7 Ways to Grow Your Startup – Even When You’re On a Tight Budget

The number one thing that stops businesses from growing, or even starting, is money. There is a big misconception in all industries that you need a large amount of money to market your product, or you won’t receive a significant return on your investment. The truth is, there are plenty of low-cost or free business expansion tools you can engage your audiences, sell more, and keep growing.

1. Use Contract Templates for Freelancers

Instead of hiring a marketing agency to help you with your expansion strategy, you can enlist the help of freelancers. There’s just one problem: you need to create a contract which usually requires a lawyer. Instead of spending more money than necessary, consider using marketing contract templates for all of your new hires. You may need to tweak a few things per hire, but they’re a lot more cost-effective and straightforward than a heavily worded legal document.

2. Create Your Own Content

It sounds intimidating to create your own blog posts, podcasts, or videos, but you absolutely need some sort of content to drive traffic to your website. Writing blog posts will be the least time-consuming, but if you’re unsure your writing will convert, you could always hire a freelancer. However, if you do have some video editing skills or have the charisma to be an engaging podcast host, use what you have to entice your viewers to check out more of your business.

3. Focus on Your Customers

Your customers are the lifeblood of your business because they’re the ones that leave reviews, purchase your products, and talk about you on social media. Make sure that you use reliable freelance job sites to look for new clients. If you have too little of a budget to find new customers, focus on existing ones by giving them the best experience possible. People love to support small businesses because of their personable attitudes, so give your customers a reason to come back. Stay positive, answer their questions and be honest.

4. Make Your Employees Proud

While repeat customers can help support your business, your employees will also aid you in any way they can if they’re treated well. If someone asks your employee about who they work for, and they respond negatively, that will severely impact your company and their morale. Keep your employees happy by giving them benefits for working with you like extra holidays, flexible work hours, or better pay. Overall, treat your employees like your best customers.

5. Wear Your Logo

While driving around the city, you’ve probably seen cars and trucks wrapped with a company logo. Putting your company logo is a great way to advertise, but if you are on a shoestring budget, you may not be able to adorn your car with new paint. Instead, print your logo on t-shirts, business cards, pens, uniforms, on the company door, and anywhere else that could draw eyes. Even a little bumper sticker on your family vehicle will bring eyes to your small business and stimulate business expansion.

6. Target Influencers

Influencer marketing sounds like a really expensive prospect, but that’s because you’re looking at the uber-popular pseudo-celebrities that have millions of followers. There are plenty of influencers with 50K followers or less that are happy to promote your business for free or with incentives, like a free product. People buy from people they trust, which is why influencer marketing is so powerful. Use high-engagement influencers to your company’s advantage for business expansion.

7. Start Cold Calling or Emailing

Cold calling and emailing is still an effective way to obtain new business prospects; it just takes a lot of time. If you want someone’s business, you need to go after it, but don’t just call or email everyone in the phone book. Instead, find companies online that may be looking for your services before issuing your opening statement. If you wow them with your presentation, set up an appointment, be pleasant, and be persistent in grabbing that lead and holding on to it.

These business expansion tips stimulate new leads and help close new business without a large investment.