How to Successfully Launch Your Business*

Setting up your own business is both extremely challenging and hugely exciting- we understand the huge amount of time and effort that setting up a new business requires, it is all too tempting to get carried away and to want to launch and show the world our new business before it is quite ready.

Here is our simple list of things that you should be checking just before launching to make sure that you have everything under control and that you can head into your launch confidently and with everything in its proper place. Whether you’re a blogger, crafter or launching some other exciting venture make sure you read this post.

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It All Starts With Your Brand

Before you can launch you need to take one final step back and look at your brand to make sure that it is all good to go. You need to make sure that you have found the best way to ensure that your brand is going to connect with your customers and inform them what you’re all about. Take some time to make sure you are happy with how you have positioned your brand. Do you stand out and does your brand successfully tell a story? Do your products or service create customer desire? How does your brand make customers lives easier? Think about these questions and only move forward into launching your company once you’re happy with all the answers to these questions.

Look at the Areas You Can Save Money

When first setting up a company there really is no need to be too frivolous with money. Looking at the areas where you can keep expenses low is essential in order to focus on the more important areas that need investing in to ensure the growth of your company. You shouldn’t be worrying about impressing new clients with expensive gestures and gimmicks and slap up lunches. Generally clients are just looking for a service or product that delivers at a fair price. So all the money that you have at the beginning of your company should be put into proving that that’s what you offer.

Look at how you can also keep things tight with the new suppliers and providers that you are going to need to work with to move forwards. If you need to use the service of companies such as couriers then make sure you are putting the research into the cheapest and most cost effective options to avoid shelling out unnecessarily large amounts of money. Look for companies like https://www.shiply.com/ who offer a shared courier service which not only is so much more environmentally friendly- it also means you can pay anything up to 75% less than more traditional courier service provider.

Financial Advice

Before you really even think about launching your business you are going to need to receive some advice from a financial specialist who can help you plan for the first few months of your business. You must also protect your initial finances in order for them to grow with you as your company develops. There are are huge amount of companies that specialise in the set up, launch and initial phase of new companies so it is highly recommendable that you seek professional advice and put in some research on business advice sites like https://www.entrepreneur.com/article/250812, in this area to make sure that you feel confident that all your finances are in order so you can avoid any nasty surprises in the future.

If you’ve launched your own business and have any additional tips or advice then leave them in the comments below.

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Little Ways I Manage my Money*

I’ve always been pretty good at managing my money (thanks for that skill Dad!) so although I’ve been off from work for almost a year I’ve managed to cope without running up heaps of debt. Obviously this in part is due to moving back home to my parents following the end of my relationship- there’s no way I could have kept the flat on myself, or moved in to another no matter how much I loved it. I’ve always been very fortunate that financial help from my family has been available to me. But it would have been all too easy to bury my head in the sand and continue spending like I was on a full time wage. As it stands I’ve still managed to build up a modest amount of savings whilst still living a life so I thought that today I’d share some of the little ways in which I manage my money.

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1.: Alongside my main current account I have several other accounts that have all been given a specific role. One of these is for buying gifts, another is to fund a social life and another is my savings. Whenever I find myself with a bit of extra cash- any income generated from my blog for example the first thing I do is divide it up- a portion gets put away for end of year tax return (so I’m not left having to find a big chunk of money), and I also add a bit to each of these accounts so I’m constantly building up resources so I can accept a coffee invitation or pick up a birthday present without needing to dip in to my current account funds.
2.: For my day to day spending I use cash, my debit card rarely gets used in a shop. It’s far easier to face up to an empty purse than it is to keep a regular eye on your bank account and once my weekly “allowance” is gone it’s gone and I have to put serious thought in to whether I withdraw a bit extra to tide me over. If I don’t carry cash it because far too easy to fall in to the “oh I’ll just pay for that diet coke and magazine on my card” mindset- a quick swipe of the plastic doesn’t feel like spending money and it quickly adds up.
3.: Every pay day I put aside a certain amount of cash for shopping trips- usually £50 per month and this pays for my bi-monthly shopping trip with mum and funds a few purchases in Monki along the way. I find that by doing this I a) have something to look forward to and b) don’t tend to buy clothes outside of these trips because I know the next one isn’t too far away.
4.: If I do want something outside of these shopping trips I try and sell something on e-Bay first to fund it. This has the added bonus of a “one in, one out” effect on my wardrobe and makes me address my hoarding tendencies!
5.: I like to treat myself as much as the next person but before making a purchase I do force myself to think long and hard about whether I really want/need it or if I’m just caught up in an “ooh, shiny” moment. As I’m fortunate enough to make some money through my blog I tend to use what I haven’t filtered off in to my bank accounts to fund these purchases and often find that by the time I’ve amassed enough to make a purchase I’ve realised that it was more of a whim and stopped myself from making an impulse buy of something I’d later regret.
It might sound pretty boring and rigid but I’m convinced that this is what has helped me through the last year and being forced to be more mindful of my money means that when I am back earning my full wage through work (first day back today, woo!) I’m fairly confident that although I’ll be feeling flush I’ll make sensible decisions and focus on re-building my savings rather than splurging as soon as it hits my account. Of course I won’t deny myself and there will be treats along the way but with wanting to move out again as soon as my health and finances allow I have more reason to save than ever.

Although I’ve managed to keep myself afloat it’s good to know that had it have been needed a short term loan from a reputable company such as Cash Lady would have been a short-term solution. I’m not suggesting, or advocating this kind of loan as any kind of solution, but in an emergency it’s reassuring to know that there is a regulated website out there to bridge the gap.

I’d love to know the little ways in which you manage your money, or if any of my habits have helped…leave it all in the comments below!

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