Setting Yourself Up for Success: The Frugal Entrepreneur

Put away that credit card Matilda! You really don’t need to buy that x*&#$ right now.

As part of starting your business you developed a budget. (If you didn’t, do it today.) That budget listed everything you believed you needed to get started.

However, after dutifully registering your business the offers and EMAILS started to arrive! You’ll been bombarded with catalogues, offers of every type of business service imaginable, business cards and stationary, insurance, and – trust me on this – these businesses know how to make you think your business will not survive without their product.

You might, at some point, decide you need one these products or services to GROW your business, but you took the time and did the research and you know you don’t really need what is being advertised to get started.

Every service or product you buy uses not only your start-up financial capital, but your time. Not only the time it takes to make the purchase but the time to do whatever you were going to do with it.

Let necessity be the driver: only buy what you absolutely need when you absolutely need it.

Get more tips on starting your business from the book: $1,000 Start-Ups

Published by Leah Ward-Lee

Leah Ward-Lee, the author of "$1,000 Start-Ups", is a serial micro-entrepreneur. She opened her first business at ten after lobbying for and receiving a shoe shine kit for Christmas. She pulled her wagon through the neighborhood, going door-to-door, offering to shine her neighbor’s shoes for twenty-five cents a pair. Once her wagon was full, she took the shoes home and polished them. Unfortunately that business was short-lived. She hadn’t tagged the shoes and couldn’t remember whose shoes were whose, so her dad went with her to retrace the route until every pair was returned. Since then she’s had businesses developing and teaching college courses, instructing aerobic classes, owning half a plane that was rented to a flight and maintenance school, and renting homes. She’s also owned a consignment store, a gift shop, a gift basket business, a consulting firm, hosted The Executive Toolbox (a weekly radio show), and a publishing company. She also spent twenty years in the US Army, served as the Chief Information and Technical Officer for two major insurance companies, and has a second career as a management consultant. Leah resides in Dallas, TX and on Amelia Island with Sammy and Goliath, her two rescue dogs.

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