Money-Saving Ideas for Home-Based Entrepreneurs

This article was written by Lesley Spencer Pyle of Entrepreneur.com.



Being an entrepreneur means you're independent and free to make your own decisions and set your own schedule. It also includes taking sole money-management responsibility, even when there are little funds to manage. Many businesses operate on a tight budget, especially when starting. Watching expenses is something that can be done throughout the different stages of starting a business -- not just when there is little money coming in. So how can you run a professional, productive company and still save money?

Do it yourself -- One benefit of starting your own business is the wealth of experience gained by doing a lot of the start-up work yourself. The added financial benefit is not having to hire someone to do it for you. As Melissa Yamello, founder/creator of Storybook Studio, an online children's arts and crafts business realized: "Everything I learn to do myself is a skill I'll have for the future. If I try and it fails, then I'll spend the money, but I gain experience, too."

Yamello created a product and realized cost-savings in bringing it to market. "Filing my own business start-up documents and my own trademark on USPTO -- this has actually taken a lot longer than it would have if I used an attorney." But she saved a significant amount of money. ...