Published on November 1st, 2012 | by Ivan Widjaya0
Startup Costs for the Mobile Entrepreneur
As a mobile entrepreneur you are likely to either do business on the move or add wheels to your brand and take a product or service to your customer’s doorstep. The perks of being a mobile entrepreneur are many: flexibility, freedom, no restrictions of time and space and low start up costs. Yes, one of the biggest perks of being a mobile entrepreneur is not having to garner loads of capital finance. Your capital finance needs are likely to be minimal when compared with someone who runs a brick and mortar business.
Here is a look at the start up costs a mobile entrepreneur is likely to incur:
Hardware and Software Needs
As a mobile entrepreneur you can run your business completely online and support it with mobile commerce. You will need a good laptop/notebook/tablet and good quality software depending on your needs. And yes…a smart phone that lets you get work done on the move.
Website/Blog and Related Expenses
Depending on your needs investing in a website or blog is the next thing you would be looking at. In the era of the internet, presence on the web is not an option; it is a matter of necessity. Setting up a blog might be cheaper and quicker when compared to a website but that’s going to be your call.
Buying a domain name and hosting will be added costs.
Internet Connection/Phone Plans
One of the best things about being a mobile entrepreneur is being on the move while you do business. But that also calls for greater connectivity. Signing up for high speed internet connection on your laptop/notebook and phone makes sense.
Setting Up an Online Store
With spiraling growth in e-commerce you might want to take your products to an online store or add one to your website. If you choose the latter you will be in greater control of how you sell and on what terms you sell.
Online Payment Options
Facilitating online payment options makes your business more customer friendly. Sign up for PayPal, MoneyGram and add an online payment gateway to help people buy with debit/credit cards.
Investing in Videos for Advertising
The power of YouTube for marketing can be tested and unleashed by mobile entrepreneurs with ease. Shoot videos on your phone or webcam and upload them to get out there and get noticed.
Social Networks and Social Media Marketing
Join social and professional networks to leverage a fan base for your products and services. Think beyond Facebook and Twitter. This does not mean you ignore them but use the power of networks like Linkedin as well. Get a premium account to get in touch and enjoy greater features and perks of social networks.
As a mobile entrepreneur, you can take your business to the heights that you want to. Capital finance should be the least of your worries as there are enough online sources you can tap. Besides venture capitalists and evangelists could be sources to consider as well.
Image by Barry Pousman