The smartest ways to invest your money as a start-up

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You’ve worked for years to build up your pot of money so that you can launch your own business. You’ve put up with the stresses and strains of the office environment so that you can finally break away and be your own boss, but what’s the clever way to go about it? What should you prioritise when it comes to investing your money, and why? Hopefully, today’s post should answer a few of these questions for you.

High quality contractors

It doesn’t matter whether you’re starting off with a team of 10 people, or just you alone, you will undoubtedly need contractors to get your business off the ground. It’s unlikely that you’ll have all the skills to deliver a full service, in which case it’s better to outsource them rather than let down a client. It could even be for your own project, such as designing your logo and branding, or creating a website that will draw in customers for years. These services won’t come cheap, but if you invest your money now, you’ll have a product to be proud of that impresses clients and helps your business to grow.

Legal professionals

Unless you want to land yourself in hot water when you’ve barely gotten started, this next point is vital. Just as the hiring of freelancers should be carefully considered and budgeted for, hiring an accountant to take care of all your taxes will save you a huge amount of time and stress compared to attempting this yourself. Similarly, have you thought about the kind of contracts you need in place as security? From simple terms of agreement to non-disclosures, you’ll need to ensure these are drawn up by a professional, as well as discuss the implications of such documents. Given its speciality, investment here is a wise move.

A top delivery service

Whether it’s a company car for yourself or a new fleet of vehicles, purchasing these immediately might not be the best idea. Your funds will be low, meaning you’ll have to opt for lower-quality vehicles, so giving a lower impression to clients when you arrive outside with their products or for a meeting. The ideal solution is to rent a private vehicle for appointments, and outsource large product shipping to a pallet delivery company, as well as any important documents to a professional courier service. You’ll be guaranteed security, speedy delivery times, and far less stress about orders being fulfilled.

Paid advertising

Finally, your advertising focus should be online, as you’ll reach a far greater, targeted audience. Social media advertising can have huge benefits for very little investment, but budgeting larger amounts for campaigns and PPC will pay dividends. You should also consider either investing in some social media marketing tuition, or again, hire an expert contractor who can manage this for you short-term, until you have the money to hire a permanent employee. This area of your business is guaranteed only to grow.

What are your thoughts on where to invest with a start-up?

 

from Finance Girl http://www.financegirl.co.uk/the-smartest-ways-to-invest-your-money-as-a-start-up/