The start of a new business is so exciting. So many small business owners get caught up in the excitement and forget to take some time to plan.
Unfortunately, many new business owners forget to plan a budget around what they are going to need their first 6 months to a year. This leads to many small businesses closing down. Because we see this so frequently, our team at Abundant Marketing wanted to help you outline what you should plan for when starting your business.
3 key items that you need to budget for at the start of a new business are:
- Logo: A logo is very important. Having a logo will imprint a new business in a customer’s head forever. The most memorable part of a product is often time’s the logo that comes to mind when thinking about the product. Creating a solid, memorable, attractive logo is simple, finding the right person to make it is difficult.
- Website: A website can change the seriousness and quality of a store. Not having a website makes it seem like the store is new and inexperienced. Having a bad website makes the store seem untrustworthy and almost like a scam. When a store has a professional, user-friendly, pleasing website the store value goes up. When a customer accesses a good website they want to shop at that store increases.
- 3 to 6 months of marketing: Knowing how a new business is going to market is important. Many businesses think that it isn’t that important but in reality, they need a plan. Having a written-out plan on how they will market, where they will market, and even when they will market is very important to a company’s success.
We can help with all of the items above and we can even do it in a financeable plan so all the money doesn’t have to be spent right at the open date of a new business. For more information, set up a free consultation with our team today!