Starting a Business on a Budget

Since we weren’t lucky as Trump to have access to $1 million for starting our business, we knew we had to watch what we spent. That’s when we began to build a spreadsheet and monitor our costs. Which became beneficial for the start of mapping out future and present expenses.

REGISTRATION

You must reserve and register your business and its name before someone legally takes it.

Depending on your location do your research before applying and registering the name. For us it was under the government of B.C. and costed $40. Since we are a clothing line we also applied for a label our CA# which was $100. Right there that is $140, keep notice!

MATERIALS

Depending what you are selling, making a profit isn’t easy as it seems. For example our Sensual Sinner set was delicately hand made and was created with expensive thick material. With the amount of hard work and costly fabric to make the item, there was no profits in the picture. Choose wisely on what you could afford and sell for materials!

SPREADSHEET

Like we mentioned in the beginning this is beneficial for monitoring on expenses. Money gets blown way too fast without even noticing. At least keeping track helps where all your money has gone missing. Especially with cash it is harder to back track on what you have bought.

EMPLOYEES

Finding a reasonable and well trusted employee is quite a challenge, but so is including family or friend into business. Choose wisely and make sure their are agreements beforehand. Things could get messy when working with others. Find that perfect team player!

ADVERTISING

it is 2018 there are many ways to advertise. They are mostly all online!! Whether it is through facebook, instagram, snapchat, etc. Finding connections through magazines and stores are mostly given online. Start doing your research!

Without each other we believe the process of where we are now would’ve taken more time. Thankful to have the best partner I could have ever asked for we aided each other on starting our line LUXX Intimates.

xoxo,

Mia