startup investments

3 Great Initial Investments for Small Businesses

Some may say that a business is only as good as the tools it uses. If you don’t start out with some form of efficiency, you could be doomed to fail. There are several initial investments you could purchase in order to start your business off on the right foot. While you don’t have to spend a great deal of money to provide stability, an investment of some kind is still required for immediate success in specific areas.

startup investments
photo credit: brianfling via photopin cc

1. Quickbooks – For the small business, Quickbooks can be one of your greatest assets. Not only does this program provide tracking for your bank accounts, but it also handles a large amount of your business practices. Inventory control, payroll, bills, and more can be tracked from Quickbooks providing a wide range of reports to help you analyze what areas your business needs to improve on.

Taxes and end-of-year business can be easily compiled and printed without putting much effort into it. As long as you entered the data correctly throughout the year, taxes could take you a fraction of the time and 1099s could be quickly produced for any contract labor you employed.

2. Computer Network – Having a computer network should go without saying. As nearly everything we do in today’s world requires access to the Internet, having a computer system can save a great deal of time and money. However, does your small business need an expensive server and network in order to function?

A file server could be beneficial if your organization uses a lot of files that need to be shared with one-another. For this purpose, a small $600 desktop server would suffice. Essentially, these servers are nothing more than a regular computer with a server software installed on it. It may not be a bad idea to increase the hard drive size as much as possible, but a file server doesn’t need to have a lot of power behind it.

For a small business, gigabit Ethernet capabilities are more of a luxury that shouldn’t be required. Again, this could greatly depend on the type of business you are starting. The basic 10/100 Ethernet network is far cheaper to build now-days and could serve your business purposes well. Unless you are planning to hammer the network bandwidth using a lot of streaming content, game playing, or other function that requires faster speeds you should save your money.

3. Website – As a large amount of people use smartphones to search for local businesses, you should have a website with all of your products and services described in detail. For less than $120 per year, you could have a website that could generate its own income or simply provide information about your business.

If you’re not interested in hosting eCommerce, your website could still serve a purpose to supply information to potential customers. With enough content, your website could generate revenue with Adsense by receiving money for hosting advertisements of other companies. There is a great deal of potential with a website and if nothing more, it can serve as a great way to advertise your business to the local community.

Although you can still start your business without any of the above tools, they are still a very wise investment. They can save you time, money, and stress from having to alter your methods of conducting business. As long as you track every dime and where it is spent, you can have a handle on how your business functions.

Author Bio: Nancy provides feedback on all elements of the site “www.enannysource.com” helping us to really make sure that we are making it as easy as possible for caregivers to sign up and find work.  In addition, she spends quite a bit of her time on freelance writing tasks.

Leave a Reply