We have worked with clients from a range of industries, helping them grow their audience, increase their lead generation and build their reputation. One of the biggest problems we find many businesses experience – both start-ups and existing organisations – is being financially viable.

Without money, whether it comes through savings, investments or sales, there’s no way a business can maintain itself and continue running. So what are our top tips for establishing a financially viable business?

  • Write a business plan with a clear budget. Use this as a strategy that you don’t deviate from
  • Only outsource work when you absolutely need to (and where it fills skills gaps for you)
  • Invest in a good accountant and keep on top of your accounts
  • Shop around for quotes
  • Cut your cloth accordingly
  • Don’t rush to do everything at once – build it up in phases
  • Seek to build contra-relationships where possible
  • Don’t over-commit
  • Make sure people definitely like what you’re selling before you invest in a lot of stock
  • Always put lead generation at the heart of what you’re doing and good ROI
  • Keep track of your bank account to look for subscriptions or ongoing payments you don’t need to be making
  • Don’t think that just because you’re a new business, you need to haemorrhage money to grow it
  • Don’t hire staff until you’re at breaking point yourself
  • Only sell out to investors if you absolutely need to – otherwise try and maintain majority control
  • Don’t get locked into retainer contracts that deplete your budget