NLIC.org

Jackie Said:

how do i star a business on the cheap?

We Answered:

Back in the day when financing was easy to come by you wouldn't have to worry about raising venture capital. Well, times have changed. You would be better off not attempting to raise venture capital by means of an investor. Take some of these tips on how to start-up your business on the cheap.

Be knowledgeable. Knowing your business can get you farther than you think. Start by visiting forums on your particular niche and give feedback, suggestions and answers to those who post questions. You'll soon become known on the forum. People will come directly to you with tough questions. You can take the experience you gained through that channel and begin speaking at conferences. Soon major companies might become familiar with your name and come to you. You might no have to seek out those big clients.

Outsource. One of the cheapest methods of saving a dollar is outsourcing some of the work in the beginning. It can be cost effective to source your work to many places outside of the U.S. If you have a website and need SEO (search engine optimization) work, don't hire within the U.S. as you'll likely pay top dollar. Source the work outside of the country. You'll pay a fraction of the cost and can get good if not better results. There are many things you can outsource. You might have to do some leg work in order to find the best solution and provider but it can be worth it.

Be in touch with your customers. In the beginning, don't go to the large stores/businesses asking if they can sell your products for you. Sell yourself. Get to know your customers. Know what they like and dislike. You'll then find out what works and what doesn't so you can improve. If you have to open up a tiny 100 sqft store at the end of a strip mall, so be it. You'll learn what it takes to run a business.

Have patience. These days, everyone expects their business to expand rapidly. Not the case. If you only get 100 customers the first year, that's okay. Think about what would happen if those 100 customers each told 5 friends about your product or service. And then their friends told 5 people. The expansion will happen if you are patient and continue paying special attention to your business.

Anita Said:

witch one is the cheapest insurance company for business?

We Answered:

There's no one size fits all cheapest. Depends on the type of contractor, and if you have any subs or not, and if so, what kind of subs, and what kind of work you do.

It's not cheap, in any case. You're going to have to talk to a couple local, independent agents for quotes.