When setting up business many new entrepreneurs fail to develop an important piece of their overall business plan, a business budget. Though an often scary piece it is necessary and can often be the key to whether a business will sink or swim.
When thinking about what are the must have categories for a business budget there are a few areas to keep in mind.
Marketing – Without marketing a business will never get off the ground, but even more than that a business owner must realize that marketing is a necessary and on-going piece of the business budget. Money should be set aside every month for the business to use for marketing. There is just no way around it.
A Website – A website is a necessity but does not have to cost you a fortune. WordPress makes it easier than ever to create and maintain a professional website on any budget. Even the big league businesses, including Ebay use WordPress.
Help – As your business grows you are going to need assistance in order to keep all the balls in the air. Don’t ever feel like you have to be a one woman or man show. Take into consideration that in order to continue to grow and succeed you will need to hire others to partner with you in your success. Possible help may include a virtual assistant, a bookkeeper, a graphic designer, etc. You need to set aside money in the budget for this help.
Communicating with your audience. If you’re going to spend money anywhere else this is the place. Communication. You want open and consistent communication with your audience. This means you will need the right tools in place to make this happen, including: an autoresponder, a mailing list, a consistent and quality newsletter, maybe even regular calls or webinars. Whatever way you choose to communicate do so effectively. This is worth spending money on.
Trust me, I realize the topic of money and budgets can be a hairy one. It is probably one of my least favorite, but it is a valuable piece of business that I wish I had incorporated into my business sooner. I encourage you to do so as well. I encourage you to invest in the pieces of your business that will enable it to succeed like the ones I have mentioned here.
Alyssa Avant is a professional speaker, trainer, and tech magician. Alyssa has been working virtually since 2007. She has years of experience working with online professionals and business owners. She is passionate about sharing her knowledge with others so they can avoid the years of trial and error that she experienced as a new online business owner.
Need a website or to improve yours? Schedule a FREE 15 min assessment to get started: http://tungle.me/alyssaavant