Youβve probably heard the old βyou need to spend money to make moneyβ clichΓ©.
But letβs face it: when youβre starting a business, the mere idea of spending money makes your mouth dry and your palms clammy.
How do you know if youβll be able to get your small business off the ground? How can you justify startup expenses when you arenβt earning any money yet? How are you supposed to know how to manage your business startup costs effectively? Shouldnβt you be pinching every last penny for at least the first year?
We get it. Spending money before youβve earned any feels counterintuitive. However, there are certain non-negotiable organisational costs involved in getting your new business off the ground.
Which ones are worth investing in and which ones should you put on the backburner? Weβre breaking down both the essential and the unnecessary startup expenses for you here so you can make the most of every single dollar you invest in your small business.