When starting a new business, entrepreneurs often take on loans to get the ball rolling on their new venture but the question every new, budding entrepreneur has to ask themselves is how much should i borrow? Becouse at the end of the day the more you borrow now, the more you have to pay back later.
Money is needed for everything in business, materials, manufacture, employees and marketing; to name a few. Now the biggest one of those is marketing. Marketing your business is very important and is not like buying materials. It takes alot of thought and more importantly can also take alot of money.
The following are my 5 tips to business loans and marketing you business:
1. Take Your Time! - Dont make quick, un-thought threw decisions about loans and marketing; if you do theres a good chance youl regret it later!
2. Dont Borrow To Much! - This is an obvious point to make but the mistake is made all to much. Dont take on to big of a business loan, its better to have a small business -- with all debts paid off -- after 3 years than no business -- becouse you couldnt pay back the debts you owed -- after 3 years.
3. Read The Small Print - As always with things like this, make sure you know what you and your business are agreeing too!
4. Value For Money When Maketing - When marketing make sure you get good value for money, i sugest using online marketing for great, cheap and effective results.
5. Experiment and Shop Around - Experiment with different ways of marketing your business -- after all not every business is the same -- and then shop around for companies offering the skills and services you need to market in this way.
No comments:
Post a Comment
Leave A Comment!