Business Advice

10 Top tips for getting the business off the ground with little credit

 

  1. Credit cards (pre credit crunch I raised £30k this way, you can prob get less now but take what you can get).

  2. Website (don’t skimp on this, it’s your business front door. However, professional looking 5 page websites can be bought for under £200 by using companies that have pre formed templates. You can always upgrade later to your own when the business takes off).

  3. FFF or Family, Friends and Fools - best way to raise seed capital but also get work done. I had my father’s accountant do the accounts for us a favour on the understanding if we took off they would have us for life. We did and they have.

  4. Outsource - there are plenty of companies both in the UK or overseas who will do your invoicing, handle calls, provide PA services etc, much cheaper than you will get by hiring. Also gives you big company feel.

  5. Work from home or in the car (I lived in a shared house at the time I started my business so my car was the only guaranteed quiet space where I could pretend to clients I was in my "city office").

  6. Use a forwarding address (I had perceived W1 office space for only £30 per month by using a virtual office company).

  7. Beg, Borrow, Steal (ignore the last one, but I fitted out my first three man office with pretty much all its equipment of chairs, desks, filing cabinets etc for £40 cash from a friend. I still use the same chair to this day).

  8. Non Geographic Numbers (0800 or 0844 can give you national coverage for a very small outlay. Can also be used to forward to your mobile to hide the fact you don’t have an office).

  9. Google App (similar to Microsoft, yet free to use. If I was starting again I would probably start my business on these, again you can always upgrade later).

  10. Think big (in my book perception is nine tenths of reality, don’t apologise for being small, every business had to start somewhere. Be big with your suppliers for good discounts. You may not have much business to give them now, but they’ll be glad to have you in a few years. Don’t be shy of asking for volume discounts).

    Want some business advice?  Dominic is always keen to help fellow Entrepreneurs and business start-ups, if you would like to arrange a time in which to speak to Dominic regarding how you can enhance your business please email: marketing@comtact.co.uk