How to save money your first year in business & beyond

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How to save money your first year in business and beyond

Money can be a huge stressor when we feel we don't have enough. Not only do we have to get out of a scarcity mindset to be and continue to have success, we want practical strategies that help us spend wisely.

Let me show you the choices you already have that are abundant.

#1 Make Use of Free. Save Your Money When You Have Free Options.

Shiny objects are enticing but they can also be costly and distracting.

You are going to be exposed to a lot of pressure to buy systems and tools that may be impressive but that doesn't mean you need them. Start with simple and free.

Take the time to get to know your business, your clients and yourself to understand what you need before you invest in a lot of paid systems and tools.

Free tools for your business

#2 Outsource. Doing Everything Yourself Costs You Money.

Once you're clear about what you do, how you do it, who you do it for and why they should care you have a mission. When you are working on things that aren't really your jam you're not really going to do a good job. Furthermore, you are taking time away from things you really kick ass at.

Right?

Don't just outsource the tasks you can't do. Outsource the tasks you can do but shouldn't be doing! Click To Tweet

Outsourcing is the entrepreneur's secret weapon. Nothing can challenge your mindset more than the debilitating moral suck of work you dislike and aren't good at, making you feel you're a failure before you've even started.

Focusing on what you do well is a rich experience in every way. Focusing on things you don't do well can be costly.

There are loads of options out there for your outsourcing needs. I can help you get things going today. If you want ongoing support there are lots of options for you online.

Check out these popular outsourcing websites:

  • Upwork
  • 99designs
  • Facebook Groups are great recourses when you need help just ask in a group and you'll get loads of recommendations for people who can help
  • Fiverr Indeed you can find some great help here. It's an inexpensive way to find some great support. Often highly skilled people use Fiverr as a way to meet great clients like you and let you use their services for 5$ as a way to show you they are worth investing in a longer term relationship.

#3 Banish Perfectionism. Inertia Costs You Money.

Go with good enough.

Doing things that are good enough will gain you valuable experience that brings you success faster than waiting for perfect. Expect failure and look at it as a success because it really is. This is how you learn and the more you get out there and fail the better you get at what you do.

TIP: When you catch yourself in “analysis paralysis” ask yourself what action can I take now to move this forward and do it. Check out “The Five Second Rule” by Mel Robins, it's gold.

#4 Start With Simple. Simplicity Saves You Money.

Keep your systems, tools and processes simple.

The less you need to do your work the better. Don't rush into buying tools and systems that will actually stop you from doing your work at this stage while you learn how to set them up and use them. Unless they are very simple and uncomplicated you're engaging in a form of procrastination.

And this is so easy to do when you're just starting out.

# 5 Cut your expenses. Find The Easy Wins To Save Money.

Many of us overspend on essentials like food, housing and credit. Here are some ways to cut costs on the everyday expenses we have that can make a real difference to our finances:

  • Move a high balance on your credit card to a 0% balance transfer card!
  • Use low-interest line's of credit instead of high-interest credit cards
  • Cancel the fluff like cable TV and choose Netflix instead
  • Refinance your mortgage if you have one or find cheaper rent
  • Get a roommate, AirBnB a room
  • Cook your meals and drastically cut costs
  • Eat in, clip coupons (use one of these handy apps) and invite people over instead of going out!
  • PC over Mac if you're in need of a computer. I love Macs but you just can't get away from how much more expensive they are than PC's in every way. If you want to save some serious pennies, go with PC. You can upgrade parts cheaply, repair them cheaply and replace them cheaply. I can't say this for a Mac.

In closing I'd like to leave you with this:

One of my favourite Money Mantras!

“I serve I deserve”

When you say this you are acknowledging all the times you serve people. You likely help a lot more people than you realise. When you give, you deserve to receive. It's okay.

You deserve to receive good things in your life.

Write down this mantra, feel it and say it often to open that flow of abundance that I want for you today.

Bye for now,

Val xo

2 Comments

  • Shel says:

    Perfect timing!! As tax season has officially ended in the states, it became quite clear I needed a book-keeping system. I’ve never heard of Wave but going to check it out ASAP. Lots of practical, easy to implement steps here, Val! Thank you!