Budgeting For Your Business: Low Cost and No Cost

Yes, you can build your Direct Sales and Network Marketing business on a shoestring, but it is going to take some available funds with which to invest into your business.

Just like you can’t work your business on spare time, you also can not work it effectively on “spare change.”

Let’s cover budgeting for the tools of your business as well as budgeting for ways to advertise and build your business.

Spend some serious time going through your finances and determine exactly what you have to put into your business.

If you are really struggling to come up with money, look closely at your current expenditures and find areas to pare down. I gave up “date night”, cable and lots of other things early on in order to have money to invest into building my business. It was tough at the time but well worth it.

Always invest back into your business in the early days. Any profits you make from retailing, sponsoring, etc., should be poured back into your business.

Use retailing to create money for you to work with to expand your business. Imagine if you retailed a little product each day. In most cases, that would give you about $100 – 300 a month to put into other aspects of your business.

Also, as holidays approach, don’t be afraid to ask for business items as gifts. What business tools or books/training could help you? Who needs another sweater, right? Add these things to your “Christmas Wish List” for family.

Determine your monthly recurring expenses. Determine your add-on expenses such as advertising, events, etc.

Think about the flexibility and opportunity you have through product retail to create a nice budget for your business. You don’t have to pull from the family budget necessarily to make things happen in your business.

Let’s talk about some “no-cost” ways of promoting your business once you have the tools you’ll need. Yes, the tools themselves cost, but please look at this as an investment!

Business cards, product samples, brochures and CDs/DVDs; and company Logo Wear – these are all tools to assist you.

You can do “no cost” methods such as “lifestyling” (talking to people as you are out and about, visiting shows and expos, networking events, etc. Remember, it’s promote, promote, promote. Do not underestimate these highly effective ways of building a retail customer base and finding others who see how fun and simple this form of business can be and want to join you.

Here are some things to be careful of, though. Littering cars; restrooms and public places with your information. I know this is taught by a lot of Networkers, but think about it. Does this seem like a professional approach? Use some forethought and always have integrity. I am totally turned off by anything placed on my car.

Get creative and find other home businesses and develop a “business pack” of ideas and samples to distribute to others looking for a home business. This is done very well by joining a networking group.

Flyers – there are grocery bulletin boards, coffee house boards, colleges and lots of other places where you have permission to post a flyer on your business. Here is where it is okay to place your information.

While you are out, always wear your company logo wear. I even have shirts for my kids and my husband.

Find some ambassadors in your friends and family. Is there anyone who might be willing to take some of your information to work? Consider giving a referral bonus on people who will help promote your business. And, you never know – if they see enough interest, they may just join you!

Develop your elevator speech. This is your “60 second” commercial that advertises what you do. When people ask what you do, don’t reply with your “day job!” Have a planned blurb that tells them about your business. And, of course be prepared with samples, brochures and a card.

Carry information with you everywhere. Put your business out in front whenever you can. This doesn’t cost a dime, but can bring in a fortune.

Coffee Shop Store front – take the kids and grab a mocha. Let them do homework while you put together business information packets; label brochures, etc. People will ask you about what you are doing.

Here are some “Low Cost” things to consider.

Advertising in Penny Savers and other low cost papers is affordable, as are College Newspapers; booster programs, community newspapers, etc.

Do a Google search to get started finding some of these papers and publications. Keep your ads short and to the point. Don’t give them too much to ponder, but send them somewhere to find out more.

Craft Shows, Boutiques and Expos – costs on these vary. Local schools, groups and other home business owners often put these together. Watch newspapers and ask others about how to find them. Call the Chamber of Commerce. $15 – 1000’s, depending on the show.

Join the Chamber of Commerce – meet and network with others. $200 annual

Join Networking Groups – monthly dues and cost of meals. Pass around a basket and showcase your “product of the week.” Be prepared to make sales.

Now we’ll cover some “More Cost” methods…

Business Opportunity Leads – make sure you are ready to move into the cold market and have a strong posture in speaking about your business first. This is not for the faint hearted!

Advertising – Larger newspapers; online ads, find communities of people who are your target market. There are website where you can do advertising.

Web decals

Magnetic Signs

Banner for Shows

Yard Signs

Shows and Expo Booth set up

And, remember that budgeting your time is as important as budgeting for expenses.

Get a day-timer and block out every time that you can NOT work your business. Then, slot in times that you will work your business and commit to those times.

It’s not always easy, but it is always worth it!!

I would love to hear your feedback and comments. Let’s exchange ideas
below. Just leave your thoughts/questions. If you think this would be helpful to others, “tweet it” at the top of the page or “share it” right below!

And, if you would like to learn the methods, tips and secrets I have used, please get my report below!