The phrase "You have to spend money to make money. I use to try and do things for the least amount of money and for some people that may be Okay. Here are a few things I think you should not bootstrap or try and buy for pennies.
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Your web development. Please do not spend low amounts of money on this unless you can develop yourself at an intermediate level. You can shop around for a good bargain but don't look for dollars on the penny.
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A website is crucial to your business and in most cases your website is your business in terms of ecommerce stores. A website isn't just a visual thing there is also background technical aspects that come into play that can ruin your business and is the reason why you should put the money forward for a good developer s.
- It should be something you actively engage in every day.
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- In fact, quite often when people think that they are saving money they are actually being penny wise and pound foolish, and are hurting their businesses.
You can purchase a baby plan from hostgator or whatever at the beginning but once you see your business gaining traction online even if to earn money you need to spend it only been a month please reinvest some of your hard earned money into upgrading your plan appropriate to your websites growth. The last thing you want is your website crashing at users with them all browsing your store, at the checkout or good forbid going through the payment process this can kill a business.
Think about it, have you ever been at the checkout and the website is slow and you end up thinking "fuck it" and don't end up purchasing what you wanted? I sure have. If you have employees. Hire the right employees for the right amount.
We have all seen videos of the UPS people tossing packages out of the trucks, ruining merchandise. This is all due to them not being paid enough for the tiring work they do.
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Obviously shipping is non your fault, but this example relates to those who have small boutiques or brick and mortar stalls. Don't hire the lazy, apathetic stoner for 9 bucks an hour, instead hire the ambitious, hardworking college student who won except anything lower than 13 bucks and hour.
These aren't cardinal rules, they are just tips for people who might be doing what I was doing when I started my businesses. Once I had changed these small things, I noticed the growth and I realised that the money I spent ended up being repaid in the long run.
There are plenty more but these are the most important ones.