How to Reduce your Business’ Overhead Cost

Saving money and making profits is the main goal for the 99.9% entrepreneurs.

Yes you have been able to birth your ideas and dreams by giving it a name and also legitimise it by incorporating it with the Companies Affairs Commission. “FUNDING” “CAPITAL” call it whatever name you want, this is the biggest hurdle every start-up faces. One of our catch phrase is “Big Thought, Small Start and Daily Growth”. This simply means that you do not have to allow lack of funding or capital hinder the commencement of operations of that business idea you have.

In this post we would be juxtaposing between business needs and available resources.

1. Work Plan:

You need to identify what exactly it is you need or want to do. The idea/thought/dreams needs to be brought to live.

Solution: Pen down your goals, vision and mission statement. Don’t worry when you have to strike out half of what you have written. It’s normal.

2. Workforce:

Depending on the nature of your business, you really do not need to employ the actual number of staffs you need to kick start your business.

Solution: Why not make do with what you have. For instance, you can find one or two people (volunteers or family members who you can tip occasionally).

3. Work Space:

Yes you have dreamt of that Pent house which is located within the Central Business District but you can’t afford it now.

Solution: Why not start from your room, garage, shed or somewhere you can get the work done at the moment. Steve Jobs and his friends started from a garage. You will be amazed and impressed with yourself when you finally move into your dream office.

4. Information Communication Technology (aka ICT)

You need to spread the word, announce the arrival of your new business to the world. In the past, door to door marketing strategies were in vogue but that’s not the case today.

You advertise your business on the internet to millions (if not Billions) using services such as Google AdwordsFacebook Ads, Youtube amongst others. The good thing about the above links is that its pocket friendly.

You can create fantastic visual ad content with Powtoon which is ideal for presentation and you can get this for FREE.

Getting a domain or as popularly know as website, is essential today. There are web host that would charge you in the hundreds or thousands US Dollars but you can actually get a reliable and functional domain and web hosting for about $20 at Whogohost.

In conclusion, remember the hardest step to take in kick starting you business is that very FIRST step. So go ahead and overcome those obstacles.

You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to get first-hand information on ICT related issues.

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