We are all motivated or many people would remain in bed all day. The essentials of life have to be accounted for with whatever we can earn. But to achieve more than basic needs we need a driver. A great example is a mortgage. We all want to pay off our mortgage, but actually, having that ball and chain is a driver to earn more to pay what can be an amount that wildly fluctuates as a percentage of our income in our lifetimes. Somewhere you find the money for the home you thought you could not afford. After conducting an autopsy of my own working life and expenditure I believe having a permanent mortgage would have been beneficial. Obviously age and health are pertinent. Where am I going with this?
If you don’t have a budget to start a business you don’t have a business. Don’t start a business if you don’t have six months income set aside too. Investing £x 000 in the start up essentials of a modern enterprise like a sophisticated website not only gives your business an anchor, but somewhere to market to and from and capture prospect data. Repaying initial costs is part of your driver to establish a thriving business and go the extra mile to secure sales. You can also offset against taxable income so it’s less than its actual invoice price. It’s only the modern world where clicks have replaced bricks that not having any premises to trade from could even be contemplated. Before Y2K you couldn’t open a shop without acquiring one, rent or buy. You wouldn’t open a shop right next to another one either unless demand suggested it were viable. Social media has exacerbated the problem. Yes, Instagram, Tik Tok or Twitter is virtually free to use but it’s not as effective as paying for a targeted professional campaign aimed at a specific product or service. Or the data you can extrapolate for next time and who it turns out is your customer.
How much of your start up funds would you invest in a website and marketing to drive traffic?