Low cost business tips

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LOW COST BUSINESS TIPS

Transcript of Low cost business tips

Page 1: Low cost business tips

LOWCOSTBUSINESSTIPS

Page 2: Low cost business tips

LOWCOSTBUSINESSTIPS

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Page 3: Low cost business tips

THEGENERALPRINCIPLEIS SIMPLE

Find something people need or want that you can access for very little cost.

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1.Turn KnowledgeOr ResearchInto aproduct

You could make a digital product

created from your knowledge or

research.

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1.Turn KnowledgeOr ResearchInto aproduct

You could make a digital product

created from your knowledge or

research.

If you can make the product cheaply

enough, you have another stream of

income once you develop a marketing

plan.

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2.Create Product At PointOf sale

You could sell a product created at

the point-of-sale like:

● print-on-demand books; or

● commissioned art

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2.Create Product At PointOf sale

You don't have to make a large

investment.

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2.Create Product At PointOf sale

You can plan to reinvest the money

from your first sales and fund future

growth of the business.

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3.StartWith aSmallProductionrun

Can you create a few products now

which will fund future growth?

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3.StartWith aSmallProductionrun

There are no economies of scale in

creating just a few products,

but there is very little risk.

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3.StartWithSmallProductionrun

If your first products sell well, you can

reinvest in future products.

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3.StartWithSmallProductionrun

If you start small, you won't lose so

much sleep worrying about your

investment.

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4.BeThe OneIn theMiddle

Manufacturing is expensive and

maintaining a retail shop is

expensive.

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4.BeThe OneIn theMiddle

You could look at making the

introduction between seller and

buyer - and that need not be

expensive at all.

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4.BeThe OneIn theMiddle

Products can be sold online without

holding stock or without the need for

a physical shop.

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4.BeThe OneIn theMiddle

A virtual shop isn't hard to set up and

isn't expensive.

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4.BeThe OneIn theMiddle

Retailers are glad to have someone

else driving sales for them and they

can take care of warehousing,

transport and returns.

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5.AffiliateMarketing

Reaching out online can make

opportunities for affiliate marketing.

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5.AffiliateMarketing

Similar to 4 above, with affiliate

marketing, you don't need to have a

virtual shop.

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5.AffiliateMarketing

You can use other methods of driving

traffic to a seller, and be paid a

commission for your efforts.

This can become a very valuable

business.

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6.ThinkLike abootstrapper

Even if you have money, think like

you have nothing, and do it smart.

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6.ThinkLike abootstrapper

Nurture a self-funding bootstrapping

mindset. Not only is it good insurance

to have a risk aware mentality, it's

also the best way to get your creative

juices flowing.

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6.ThinkLike abootstrapper

You might find that guerrilla

marketing is not only inexpensive, it

works better than traditional

marketing.

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6.ThinkLike abootstrapper

Content marketing can attract more

customers, and those customers are

also fans, which will do wonders for

your bottom line.

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THERE’S LITTLE TOLOSE

If you keep control of your costs.

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AND EVERYTHING TO GAIN

If you keep control of your costs.

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LOWCOSTBUSINESSTIPS

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