Starting a business is like bungee jumping.
It might be fun. But without the proper preparation and the right guide, it’s extremely – and unnecessarily – risky.
The more you can manage and reduce that risk, the better. But hiring professionals and working with consultants can be expensive. So what do you do next?
Well, don’t worry. This is completely normal. Most small businesses have to make every penny count.
That doesn’t mean you need to do everything yourself. You just need to know when to invest in professional business support and when to handle things yourself. This blog will help you decide.
Pick the support worth paying for
Some support is worth outsourcing from the start. Others you can muddle through for now.
Sorting your books? If you have anything more than a few simple transactions, that’s one to pay for.
Bad bookkeeping will mess up your cash flow and land you in trouble with HMRC. It’s cheaper to get it right early than to fix it later.
The same goes for contracts. A solicitor writing clear terms can save you pain later if a client refuses to pay.
If a solicitor’s services aren’t yet on the table, do everything possible to free up finances. Get your foundation firm first; the rest of the building will come.
Worst-case, purchase a draft template from a trusted source.
Then there’s branding, websites, IT and advertising. You don’t need to hire a top agency, but you do need a business that looks open, legal and trustworthy.
If that’s something you’re proficient in yourself, wonderful. If not, outsource it.
Then it comes down to which jobs actually bring in money. Think admin, social media, customer service or sales.
You’re not selling or producing if you’re answering emails or stacking shelves all day. In these cases, a part-time assistant (or virtual assistant) might be a massive help.
Find services that don’t break your budget
Now you know what to pay for, look for innovative ways to do it without draining the pot:
Getting jobs done
Start with freelancers. Sites like PeoplePerHour, Fiverr, and Upwork let you hire people per task. No long-term contracts, no commitment. You can get logos, copywriting and web tweaks done on your terms. Just be sure to check reviews first.
And don’t make the mistake of going with the cheapest bid on principle.
Sorting finances
Don’t ignore Government schemes. The Start Up Loans scheme from the British Business Bank gives loans and mentoring. You repay monthly, like any loan, but you also get guidance.
Local Enterprise Partnerships (LEPs), like D2N2, sometimes offer grants, training, or one-to-one advice. South Derbyshire District Council has listings of local support, too.
If you’re unsure where to start, give us a call. We’ve helped hundreds of Swadlincote start-ups build a firm financial footing.
Education and development
Universities near Swadlincote, like Derby or Loughborough, often run innovation programmes. They’ll match you with students or recent graduates who need real-world projects.
You get fresh input. They get experience. Everyone wins.
If you want regular help but can’t afford it now, consider equity. Offer a small share of the business in exchange for expert advice or services.
Make sure it’s fair. Use a solicitor. And only do this if the support you get will help you grow quickly.
Also, negotiate terms that fit your cash flow. Milestone payments work well. Agree to pay a deposit, then release more money after your supplier completes certain tasks. This keeps the project on track and protects both sides.
Get more from the people you hire
Money spent on help is wasted if it’s not used well. That starts with a clear brief.
Know what you want. Set a budget. Set deadlines. Explain what success looks like.
If you don’t know, they won’t know. That leads to delays and rework, which cost more.
Communicate quickly. Answer questions. Give feedback. Ask for regular updates. Be honest.
If something’s not working, say so early. A one-hour fix now can save a five-hour rebuild later.
And finally, build the relationship. Don’t just treat your suppliers like a service. If someone delivers good work, pay them on time, say thanks and stick with them.
That’s how you build trust. Trusted suppliers give better rates, more flexibility and more effort.
How can Buckler Spencer help?
As always, just because a certain offer of help is the cheapest doesn’t mean it’s the best. Rather, put your energy into finding the right help at the right time, on the right terms.
This is where a decent business adviser or management accountant helps. Someone who understands start-ups. Someone local. Someone who gets that you don’t have money to waste. Someone who tells you exactly where and how to bungee jump safely, while having fun.
That’s what we bring.
At Buckler Spencer in Swadlincote, we help small businesses spend smarter. Whether you’re in Swadlincote, Woodville, Ashby, Burton, Tamworth, or anywhere else in the area, we’ll show you how to fund the help you actually need, without signing up for things you don’t.
Reach out today. Let’s chat.