Starting a business is always an expensive process, but some steps aren't quite as costly as newcomers might think. With the right approach, it can be possible to make appreciable savings on a range of important business startup factors, if you know where to look. Consider the following options and you could see some serious advantages in the long and short term, alongside the always appreciated benefits of lower stress levels.
Finding the Right Mortgage
If you operate a physical business, then the most profound ongoing cost is likely to come from your mortgage. Though many local businesses can help deliver expertise in this area, people juggle hectic lifestyles and need to deal with their mortgage queries in a convenient and flexible manner around work schedules and other responsibilities. Luckily, online options now exist to make things easier.
Trussle is an online mortgage advisor which utilises advanced AI, as well as human experts, to quickly compare more than 12,000 different mortgages, with decisions returning within five days. Rated 4.8 on Trustpilot, this system boasts average customer savings of £290 a month, with no cost to the customer. For physical businesses, online options such as Trussle are beneficial because they are an affordable, time-saving alternative and massively convenient for modern-day users.
Online Visibility Through Social Media
The other methods we consistently see new business owners underestimate are the benefits that come from free advertising via early and ongoing social media engagement. According to Pew Research, around 72% of Americans use social media, with similar numbers extending to the rest of the developed world. In other words, if you fail to engage within this market, then your business is going to start on the back foot.
The most basic way to begin on social media involves setting up a Facebook page. As noted by Overlo, roughly 2.8 billion people use Facebook monthly, making it the single widest-reaching advertising platform in the world. At the very least, work on a Facebook page should include general operational data like hours and target audience, as well as basic contact information. Depending on how much your demographic engages with Facebook, you also might want to consider daily updates.
Outside of Facebook, social media integration again depends on demographics. If you run an artistic style of business, then Instagram or TikTok could be a great way to engage your customers. This is especially the case if you can illustrate your products or services directly through images or video, which tends to be more appealing than a format of text dumps.
Finally, if you want to advertise quick specials and savings, Twitter can also be worthy of investigation. As one of the low data and more fast-paced social media options, Twitter users are likely to be better primed to timed offers than customers of other social media sites. Boasting 206 million daily active users according to Backlinko, this is another potential audience that can't be ignored.
Rounding out social media, the last suggestion we'd have is to ensure that each platform you use links to the others and that each offers strong cohesion between the rest of the group. You always want users to be able to relate your pages both to the other social media sites and to your business as a whole. Failure to achieve this goal can lead to confusion and lost customers, so putting the effort into consistency is key.
Though managing a mortgage can be achieved in the short term, social media engagement is an avenue that's going to require ongoing work. Just because it's free doesn't mean it will be easy, so be prepared to make mistakes and adjustments as you. Remember, it's not a race, and every failure can present another opportunity to learn. Take your time, listen to customer feedback, and your odds of success will be better for it.