Our Blog Growing a Business with Limited Cash

Jul 03, 2016

Growing a Business with Limited Cash

We all know that being on a budget inspires creativity. Growing a business with a limited amount of cash is not impossible and we’ve found a couple ways to do just that! After the recession hit, everyone had to use their imaginations and think outside of the box, because sales were down. With competition being fiercer than ever, the rivalry for clients has heated up. Not only have customers changed their patterns of purchasing, but they have also changed the way they locate and review businesses, prior to taking the last step. No, you don’t need a billboard in Times Square, New York or in Buckhead, Atlanta to generate new leads. However, you do need to advertise strategically. For years, companies have thrown away thousands of dollars in marketing. Who says we have to follow that trend? Let’s check out how we can stop spending and start saving again.

Referrals:  This shows that your customers or other businesses see the value of your work and want to help spread the word. If you have a great product or service, it’s key to let everyone know that you are open to referrals. Also, by referring out, you can build business-to-business camaraderie. This is a powerful way to get your products or services advertised without costing a dime, all while keeping clients in your pipeline!

Website: Initially, it may not seem like it’s a huge savings, but it is a must have. Get a professionally written and designed website so that your customers have a point of reference. How does it actually save you money?

* Your business is open 24/7

* You get paid in your sleep by selling your products online, using an online payment solution

* Save on employee related expenses while your website works for you

* Save time on customer service by having a FAQs page

Shall we continue on about the benefits that a website can bring? Invest in a well-designed website and you will see your Return Grow.

Partnering up: Partner up with other businesses that are supplemental to yours. Ask them if they are interested in adding your products or services to their website, catalogue, newsletter and so forth. In exchange, you will do the same. By doing this you will be creating a mutually beneficial relationship.

Virtual sales: This one goes hand in hand with having your website. Allow your customers the luxury of buying online. Invest in an online merchant account solution that will be easy to use for both you and your customer.

Free Advertising: See where the conversation is happening and join in!

You don’t have to empty your bank account to get the word out about your business, just be creative.