Rich Bitch Financial Success for Women Articles

Be a Smart Money Manager

Money. It's a hot topic just about everywhere you go, and it's no different when it comes to your web-based business. Cash flow is an important part of your business, particularly during the start-up phases. Unfortunately, this is also often the time when cash-or lack of it-becomes an issue. You'll need cash to pay for services, buy inventory, promote your business, and repair and replace your equipment. Oh, and you'll also need it to pay yourself! It sounds daunting, doesn't it? Well, relax. If your cash flow is limited you are in good company. Most successful businesses faced the same issue during their start-up phases, and they got through it. How? By being smart and savvy. You don't need to break the bank to get your business up and running. Check out the following ways to get a big bang for your buck!

o Pinch your pennies. It may seem counterintuitive, but you don't need to blow your wad on the fancy stuff in the beginning. Save the fun purchases for later and concentrate only on what is completely necessary now. For example, those magnets with your company logo might look really cute on your customer's fridge . . . but only if you have a good logo. In other words, spend on the stuff that you'll get multiple use out of. You'll be able to use your logo over and over again-on your web site, on stationery, etc. So, logo yes, magnets no! And of course you want to buy those fancy pens with your company's name on them. What sane person wouldn't. But imagine it's between the pens and, say, your web site design. What would you choose? Would you skimp on your web site to purchase the pens? I really hope not! Okay, you get the point . . . which is to spend on things that matter. And leave the other stuff for when you are wildly successful and don't know what to do with all your money.

o Know how to publicize your biz-for free. You don't need to have a huge advertising budget to get your company's name in front of your target audience. In fact, you need very little advertising budget at all. What you do need is an interesting story. The media loves an interesting story! Pitch one. Here's an example. Say your business in an online retailer that sells fitness equipment geared toward new moms with babies. It's not enough to send out a press release that says, "Hi, we're a new online fitness retailer, and we're really nice, so write about us." No one is going to pick that up and run with it. You'll have a different experience, though, if you write a story with more widespread appeal-one that gives some statistics about new moms and health and fitness trends, for example-and tie your business into it. Don't make your business the main focus; instead, make it part of an interesting story and watch the media swarm! Goodbye advertising dollars, hello free publicity!

Being a smart money manager is key to getting your business of the ground. Be smart and savvy, and think before you spend!

Keywords. smart money management.