One of the many advantages of a direct sales business is that for the most part, the initial investment is minimal, especially when compared to a traditional startup. Whether your startup cost is $100 or $1,000 though, it is important to keep costs down when you are just starting out or looking to grow your business. The good news is that it’s not necessary to spend a lot of money up front in order to build successfully. Here are some tips for building your direct sales business on the cheap.
- Don’t pay for marketing. There has never been an easier time to market your business for free. Start with your social media presence. Most social networks allow you to create a page for your business. Take advantage of this option, and engage your contacts by regularly posting content that sparks an online dialogue. Check here for some effective ideas to get started on the most popular social networks. Aside from marketing online, however, you can easily market your business in more traditional ways. Always keep yourself looking professional when you’re out and about town, and arm yourself with business cards and some catalogs. Consider wearing a button advertising your business or if applicable, a noticeable product itself. People may ask you about your business, resulting in instant bookings or at least requests for follow-ups. Finally, don’t forget to post information about your business in community bulletin boards and similar places. Many businesses will also allow you to leave a catalog in their waiting rooms or reception areas as well.
- Use the power of word of mouth. Get used to talking about your business in ways that are relevant to the conversation. Relay anecdotes, discuss how or why you got started, and what you’ve accomplished so far. Encourage other satisfied customers to do the same, as people take great stock in user reviews, both written and oral.
- Before you spend money on something, ask yourself if the return is worth the expense. You’ll of course have to spend money on certain things, but make sure the return will be worth it. Although it may be tempting to buy a ton of promotional merchandise with your company’s logo and your contact information on it right away, it isn’t necessary to get a good start. Those types of purchases are best saved for when you’ve already started making a profit. Always think of your potential expenses as a possible risk. Think seriously about whether or not spending the money is worth the risk, and as your business grows, your needs and “risk factors” will change. Adjust accordingly.
- Spend the least possible money to get your products/services to the market. When you do pay for getting your products to your market, do some research and comparison shopping to make sure you aren’t overpaying. For example, a friend has booked a home party for your direct sales jewelry business and is expecting a large amount of guests. If you are just starting out and don’t have a large inventory of samples, you might be worried that the guests won’t order as much as they would if they were able to try on the pieces. Instead of hurrying to order more from your company, ask your upline if you can borrow a few pieces for this one party since there will be so many people there. By getting creative and using resources available to you, it is possible to find ways to spend as little money as possible to get the results you want.
Building your direct sales business on the cheap is an effective way to maximize your investment and set yourself up for long-term success. What other suggestions do you have for building your business in an affordable way? Please share your ideas below!