Call in favors
Time to talk to friends, other business owners' and family to see which assets, time, or money they can help with. It's a common bootstrapping technique to save money, and chances are there is more help out there than you realize.
Reduced your set up costs and overheads
Look for support
Search online for what's happening in the construction industry to see if there is any support in your specific trade.
Tap into any family and friends that are willing to help, which could be cash or just a helping hand setting up and spreading the word you're in business. You'll be surprised who in your circle of friends will help.
Harness social media
You don't need a large marketing budget to build a customer base. The Internet can help you develop a strong presence for free.
Whether you decide to create a presence on Facebook, Twitter, LinkedIn, or Instagram, regular interactions, and postings are the keys to gaining customer awareness.
Possibly you can negotiate with suppliers a much longer payment cycle, free trials, or several months' rent-free in a new lease agreement.
Effective marketing can be creative rather than costly. Some ways you can get your brand in front of potential customers include:
- Email campaigns – as you begin to sell to consumers' you'll want to get them coming back for repeat services. This is where building an email contact list and sending out regular deals with calls to action can keep your business going.
- YouTube videos – images can speak louder than words, and video even more so. Whether you're explaining what your business does or showing how your services works, videos are a cost-effective medium for getting your messages across to your target market.
- Build word of mouth referrals by actively asking new customers to refer you. Don't wait for word of mouth to build over time as it tends to be too slow.
Outline all the ways that you can save money by first reducing what you need and then from what you can borrow. Spend your time like a currency and do as much as you can yourself (with friends) before you start paying others.
About The Author:
Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or firstname.lastname@example.org
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