Stumble Forward

Avoid Life's Financial Pitfalls

  • Blog
  • About
  • Contact
  • Resources

Four Investments to Have During a Startup

October 25, 2013 by Christopher

business investmentHaving a business startup running successfully is a laudable decision that all serious entrepreneurs have in mind when they put together their initial business plan.

You might already be aware of this and your own business plan may already include all the necessary steps to attain the success that you expect regardless what niche your business is in, or who is your target audience for your products and services.

However, there are some investments that you should have during a startup, but you might be missing

Investing in Technology

Today’s world is dominated by technology. Computers have been substituted with major advantages over office equipment that business owners no longer require to operate their businesses.

However, you need to invest in technology continuously to avoid your business falling behind your competitors. Buying computers could be an initial business startup investment, but then it is necessary to keep investing in hardware and software regularly.

Personal and Business Protection

Being a business owner makes you liable for issues associated with your business startup operations and therefore, it is always advisable to invest in business insurance.

Furthermore, depending on the size of your business, numbers of employees that you have, and the risk they are exposed to at the workplace, workers compensation for them and life insurance for you are two other insurance policies that provides you with coverage that protect all people involved in your business.

Market Research is Worth

Investing in market research is something that you might have forgotten, but it is absolutely necessary to know who your competitors are and who is the target audience that your business startup needs to focus on.

You may create a market research department inside your own company, or investing in a market research study conducted by an external company specialized in this field.

Let People Know Your Business

In order to get a return for your investments and yet start monetizing from your business you need to invest in advertising first. When you have invested in the best technology, life insurance, business insurance, workers compensation, and the best market research study, you will not be able to go any farther if you cannot reach the people who are going to pay for your products or services.

Investing in advertising delivers your message not just to your potential clients inside your niche universe, but may attract a captive audience that helps your business startup achieve success more quickly.

So how about you, have invested in any of these things for your business?  What other things would you invest into to increase the success of your business?

Related

Filed Under: Financial Independence

About Christopher

Chris is a personal finance blogger with Stumble Forward helping people avoid life's financial mistakes and live a higher quality financial life.

Connect with Chris on
Google+

Get To Know Me

Hi, my name is Chris! I’m a personal finance and small business nerd.  Check out my blog where I share all of my favorite tips about saving money to running a small business.

As Seen On…

Top Articles

Categories

  • Budget Updates
  • Business Opportunities
  • Business Tips
  • Careers
  • Construction
  • Consumer Advice
  • Cooking
  • Credit Cards
  • Credit Reports
  • Debt Managment
  • DIY
  • Education
  • Faith & Money
  • Financial Independence
  • Financial Security
  • Health & Fitness
  • How To Guides
  • Identity Theft
  • Insurance
  • Investing
  • Law
  • Market Updates
  • Money Managment
  • Mortgages & Loans
  • Niche Site Updates
  • Online Business
  • Pets
  • Podcast
  • Reader Poll
  • Real Estate
  • Reviews
  • Saving Money
  • Scams
  • Tech
  • Timeshares
  • Travel
  • Tutorials
  • Uncategorized

Get To Know Me

  • View StumbleForward’s profile on Facebook
  • View StumbleForward’s profile on Twitter
  • View choldheide’s profile on Pinterest
  • View choldheide’s profile on LinkedIn
  • View +ChristopherHoldheide’s profile on Google+
  • Blog
  • About
  • Contact
  • Resources

Legal Stuff – Yep We Got That Too

Privacy Policy
Disclaimer for Stumble Forward
FTC Disclosure

Copyright © 2021 · Magazine Pro Theme on Genesis Framework · WordPress · Log in