Thinking beyond the obvious methods of raising money, there are many other tactics you can use to help your business thrive. Some points to consider are outlined below:
- Ensure that you run an efficient, professional business. If you work from home, meet your clients at their business or meet them at a restaurant as meeting at your own home may give them the wrong impression. Make sure your selling skills are polished.
- Instead of paying for advertising in a newspaper or magazine, try to get some free PR. Find an interesting angle about your business and provide feature editors with editorial and a picture or offer to do an interview. You could also hold a competition which offers one reader a free product or demonstration with details of the competition on the same page as the feature about your business. See Public Relations.
- As well as traditional marketing, you should also consider using social media for your business. Customers increasingly look to engage with businesses or brands online, so social media can be a great tool to help you engage with existing and potential customers, with relative ease and little cost. See social media best practice for business.
- If you can use equipment on a free trial which will save you cash for a few months, give it a go. If it's possible to exchange goods or services with another business without exchanging cash, but with a mutual benefit, then that too will help you save money.
- Watch other entrepreneurs and pick up on their expertise and tips. There's no guarantee that someone else's ideas will work in your business, but you may be able to tweak an idea to work perfectly for your business or it might trigger off a creative idea of your own. See Northern Ireland business networks and benefits of business mentoring.
Most of all, have a positive attitude. Give partners and clients the impression that you are dedicated and offer an excellent service or product.