4 Tips To Fund Your Startup Business

by | May 30, 2018

Lack of money or cash flow can put a company out of business, but it also stops many more creative entrepreneurs and startup organisations from going into business in the first place. There are many reasons why companies fail to get off the ground, and often a lack of funds is at the top of the list. Here are some ways you can help your dream come alive by self-funding your business without being forever indebted to the big banks.

Go slow

We have all heard the story of the tortoise and the hare; but, when it comes to business, we are often in a hurry to open the doors and bring in the customers. You don’t have to be, however! Starting small will help you create a business that is sustainable. You don’t have to borrow big initially or even wow the crowds at the beginning – you just have to focus on small progress over time. Start with a handful of followers and hone your craft carefully paying attention to the smallest of detail. Your future supporters will thank you for it, and you will learn a lot about customer service and sustainable growth in the process.

Stay small

There is absolutely nothing wrong with owning a small business. It allows you to practice sustainable growth and really become an expert in your craft. Foster all relationships with the customers you have and get them coming back for more. You only need a few products or services to get the ball rolling. Even if your dreams are big, staying small for longer doesn’t mean that you won’t grow in your own time and at your own pace. Build up your cash flow bit by bit and make sure that the money that is coming through the doors is pure profit, rather than money which is being paid towards a bank loan.

Keep your day job

Many successful entrepreneurs began their business while working elsewhere. It may have started as an idea which naturally evolved while they were earning money from another company and that’s totally okay. By cutting down your expenses and saving, you can take money from your day job and put it towards your startup business. When you have enough money and a few customers under your belt, you will know when the time is right to quit your day job and focus on your own business. Never run before you can walk as it can lead to long-term cash flow troubles and an inability to cover your business and personal expenses.

Work on your reputation

You don’t have to be a big business to take advantage of PR and marketing. Look out for opportunities to be mentioned in articles and try to find people to interview you, even in the beginning stages of your startup business. Each write-up builds up your business credibility and cements you as an expert in the eyes of the general public. Even before you are working in your business full-time, you can build up a list of media mentions and post them on your website. Be willing to say yes to media opportunities as they crop up as you never know what doors it may open.

By keeping your day job, working on your reputation, going slow and staying small for longer, you have plenty of time to look out for alternative ways to boost your cash flow. Keep your ears and eyes to the ground to take advantage of small business loans and grants which can help you in the long-term. But, try to avoid piling on the debt, particularly in the early stages, wherever possible. If your startup business ultimately means that much to you, then you will find a way to get it off the ground.

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2017-10-13T09:21:50+00:00

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Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.
Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.

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Councillor at Warringah Council

2017-10-13T09:25:16+00:00

Sue Heins
Councillor at Warringah Council

Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.
Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.

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2017-10-13T09:26:35+00:00

Anne Maybus
Writer and Content Creator, Clever Streak

Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.
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Strategic Resourcing Manager

2017-10-13T09:28:24+00:00

Adam Dobson
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Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.
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2017-10-13T09:30:45+00:00

Robert Gerrish
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I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!
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Director, Virtual Elves Outsourcing Solutions

2017-10-13T09:30:59+00:00

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.
I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.

Gai Hook
Virtual Sales Strategy

2017-10-13T09:32:05+00:00

Gai Hook
Virtual Sales Strategy

I have had many a chat with Sophie on the networking circuit. Sophie has a strong profile and reputation within business circles and I wouldn’t hesitate to recommend her to any soho needing direction, support and encouragement. I have a passion for educating small business myself and wholeheartedly support Sophie in her endeavour to actively reduce costs for those who may be unintentionally making uninformed decisions relating to business management. Many business owners are unnecessarily outsourcing tasks which are misdirected or can be achieved inhouse.
I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.

Jennifer Dalitz
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2017-10-13T09:50:01+00:00

Jennifer Dalitz
Gender Diversity expert, Career Coach, Award winning blogger on women, work & leadership @ www.TheSheEOBlog.com

I’ve worked with Sophie as a contributor to Confessions of a Mumpreneur – a fantastic book that she dreamt up, edited and produced. Apart from producing fabulous books that help so many others realise their entrepreneurial dreams, Sophie is an astute business person who is making her mark on her own terms. Watch this space – I’m sure we’ll see and hear a lot more from Sophie Andrews in the years to come.