Quite a few people might think it takes a lot of money or serious investment to start a company. That is not necessarily true. Perhaps if you are launching a hardware product or biotech company, then you probably need quite a bit of capital. But for most startup companies, what you need is not money but a good problem/opportunity, a skillset, some drive and a work ethic. Plenty of companies have started from very humble beginnings and grown to be quite successful.
Take these three companies, for example, all based out of San Diego, CA. Pura Vida (fashion bracelets) was started with just $400 to buy some wrist bracelets in Costa Rica to sell to friends in southern California to help pay for a surfing trip. Two years ago, it was sold for over a $100 million dollars. Blenders Eyewear started on a college campus with less than $1,000 to test if students wanted to buy less expensive but well-designed sunglasses. They were purchased by an Italian eyewear company for $90 million in 2019. And Power Digital, a digital marketing agency was started by the founder taking an existing client from the agency he worked at and acquiring a smaller client all on the same weekend to create $12,000 in monthly billings. They were acquired in 2022 at a valuation of over $500 million.
The one thing that can help entrepreneurs look ‘professional’ and actually help launch and run the business is the surprisingly inexpensive but powerful tools available today. Some online services and tools like $99 Designs and Fivrr might be just what you need to get your brand and logo designed. Just define your future company culture, it’s purpose, mission and values and the online designers should be able to get you something close for a fraction of an agency cost.
Then you could turn to the following online tools and services to get your company up and running for probably less than $300 a month. Here is an overview of some core tools and services you might need.
Domain registration. You need a name and a web presence. Whether you use GoDaddy or Domain.com, they are both domain name registrars, or companies that manages the reservation of domain names. You can use either one of these firms to search for a name that you like, see if it’s available for use, and then either register your domain name. The cost? Less than $20 per year.
Websites, from simple to Shopify. If you need a simple website, 10 pages or less, then you might want to use Weebly or Wix to create simple, professional websites, often for less than $10 per month or even free. Or if you are selling online, then select an Amazon like website ecommerce tool like Shopify or Big Commerce. The cost will be about $40 per month to start.
Marketing and data analysis tools. To measure traffic to your website and data related to activity on the site, use Google Analytics, its free. Need to use a simple tool to manage your social media marketing, then use a product like Hootsuite which has plans starting at $99 per month.
Email Tools and services. You will have customers and you need to communicate with them for several reasons. As prospects, then customers, then perhaps retargeting your loyal customers for sales of additional products or services. Products like Mail Chimp and Constant Contact are full featured and easy to use to create compelling and useful email campaigns, all for between $13 to $40 per month.
Payment processing. If you are selling products or services off your website, then you need a payment processor who can help you collect customer payments, usually via credit cards or some type of transaction fee. These providers like PayPal, Square or Stripe usually charge less than 3% of the purchase price to handle the transaction and deposit the funds in your bank account.
Financial and billing. If you are creating a services company and will be billing clients, then you can use any of the following to get started and keep it simple but professional. Intuit QuickBooks, FreshBooks or Bill.com will all help you look professional and stay organized. They can start from as low as $15 per month.
The tools and services available today for entrepreneurs are quite simply amazing. A small startup can ‘look’ just as powerful as a billion company and can compete using simple but powerful tools. Don’t let money be your excuse to start a company. Who knows, you just might start the next Pura Vida, Power Digital or Blenders.
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