A substantial amount of investment is not a necessity for getting a successful business up and running, contrary to popular belief. Will, determination and a lot of hard work can do the trick. Alex Miller’s successful business venture is proof of that.
He left his full time job with a very low amount of money in his bank to set up his own credit repair firm. He didn’t let the lack of investment stop him and turned his start up into a multi-million dollar venture within the course of years. Today he is one of the most trusted and well-known names in the credit repair industry, with offices in five locations across the United States.
In this piece, Alex Miller shares three tried and tested tips to set up a business with low investment.
- Build a social media presence
“In the world of today, you do not need to spend hefty amounts of money to spread the word about your business, you can just use social media instead”, says Miller. Build a presence of your brand on different social media outlets and be sure to update them consistently. Link all your social networking accounts, making it easier for people to reach out to you anywhere. The whole world is now online and one step towards building a successful business is to utilize the large amount of audience present on social media platforms, he advises.
- Excel at what you do
According to Miller being the best at what you do is key in building a client base. You must always be striving to learn more and more about the market you’re serving. Even if you can not invest much in your business initially, the quality of your work will lead you towards more sales. If you’re good at what you do, it won’t be long before your business starts generating revenue. Be efficient as well as effective when it comes to your business.
- Ask Your Clients for Feedback
It does not matter how old or new your business is, client reviews will help you bring in more customers. Be sure to ask everyone who utilizes your products or services to provide you with feedback and even recommendations for what you can do to improve further. A little appreciation can go a long way. Positive feedback will motivate you to do even better. It can also help expand your client base. In case the customers report something they did not like, you can use their suggestions to improve your product or services.
Building a business venture from scratch can sound scary but there’s no science behind it. The main thing is to keep your head in the game and never give up. A lot of investment can not guarantee that your business will be a success. If you have an idea about a product or a service that is needed in the market, there are a lot of ways you can put the idea into action without investing too much. Utilize the mediums available, such as social media and different networking sites to get the word about your business out there.