Lawyer Fees Can Be Circumvented
While it is absolutely necessary to get your business registered from the start and to ensure that all your documents are legal, there may be ways to avoid handing over hundred if not thousands of dollars to an attorney. Legal sites such as LegalZoom.com may be able to offer the same service for a fraction of the cost. Comparison shop before you commit to a particular site and even a listed lawyer to make sure you are getting the best deal.
Limit Your Scale to Your Budget
There may be a way to start your business off on a smaller scale. You may have grand dreams but chances are you can cut back on the number of product variations you offer or the number of services you start out with to limit your expenditure at the beginning. As time passes and your business starts to earn revenue you can start to expand slowly.
Start the Business at Home
One great way to save on start-up costs is to operate out of your home. Lots of different business types don’t need the exposure of a commercial address and this is usually one of the most expensive aspects of starting a business. If you can find a way to start from the comfort of your own home you can save the money that would go into renting and maintaining a commercial presence and pump it into marketing your new venture.
Use a Drop-Shipping Service
If you have to deliver a product to your customers you can use a drop-shipping service to save on your start-up costs. A drop-shipper ensures you don’t have to handle the merchandise and this saves on both storage and shipping.
Finally, instead of relying on others to get the job done, commit to doing it yourself. Often an entrepreneur starts off wearing several different hats because it is cheaper to manage independently than it is to hire staff from the beginning. Eventually, you can hire some much needed help but doing as much as you can on your own can certainly cut the capital needed to get started.