Yes, money can require cash, but there are some things you can do that require little or no cash, and those that do require an investment will pay off dividends in the long run.
Hire a Ghostwriter: Quality content can be a strong traffic and lead generator and you may be exceptionally good at creating it. But, if you insist on writing all the content that you need every week for blogs, websites, etc., it will take more hours than you have. Writing can siphon off hours of time that should be spent doing other things to make your business successful. One alternative is to hire a ghostwriter to help you generate more content for your audiences.
Some people resist hiring a ghostwriter because they feel that they are surrendering their voice, but it does not have to be that way. If you chose to use a ghostwriter for work that will be published under your name, take the time to review it and ensure it represents you (and your voice) appropriately.
In the end, the time you save from having someone else research a topic and write an article (or e-book) is worth paying for. It is much easier and faster to edit that to create. Hiring a ghostwriter is a particularly smart choice for articles and blog posts.
Have Your Readers and Friends Contribute to Your Blog: Once you have a blog established and have garnered a number of loyal followers, invite your readers to contribute. You can also invite friends and acquaintances that you meet in forums and through other social media to contribute. This is an easy way to generate more content, build strong relationships with your followers, and widen your circle of influence in the social media community.
Encourage everyone to comment on your blog posts and to submit their original work – stories, pictures, etc. Publish correspondence you get, answer your readers’ questions, etc. Not only will your readers and friends love getting involved, you will gain more readers through the excellent content they provide. However, a word of warning – never publish anyone’s name or other identifying details without permission.
Partner on a Project: Give yourself a break on your next project or product development. Find a partner with complementary skills and assets – and work together. For example, if you want to create a membership site and you have the content, but she has the programming skills, why not partner? Or, if you have a decent mailing list and someone else is willing to do a lot of the hard work in putting the project together, it is a win-win situation for both of you. Half the profit of a successful project is much better than all profit of “zero” for a project that never got off the ground because you didn’t have the time to make it happen by yourself.
Hire Your Children: If your children are old enough, put them to work. It is a prime opportunity for them to learn about business, to get some solid work experience, and to develop a stronger bond with you. You not only get some relief from your workload, this option may also have some nice tax benefits too. Check with your accountant (See Strategy #16).
Hire an Intern: Check with your local college about intern programs. Some interns work for free just to get the work experience, or they receive modest pay for their work. As you know, many of the younger generations have killer computer and social media skills. Who knows what other skills they may have that could ease your load. You get the help you need, and your intern gets some experience – you both benefit.
Outsource Your Bookkeeping: This is something many people dread…dealing with all the numbers, receipts and getting ready for tax time. It is a job that often gets put on the back burner and niggles at your brain because you know it needs to be done. It is an essential part of business and can create a lot of stress when it is ignored.
In order to know where you are going (financially), you must know where you are. Up-to-date books will give you that information. You may be able to keep the books; but, is it actually in your best interests to do so? I recommend that you find a bookkeeper and take this responsibility off your plate once and for all. A bookkeeper will provide the information you need to make sound financial decisions for your business.
Hire an Accountant: In addition to hiring a bookkeeper, you need an experienced accountant who can help you with financial planning, educate you on tax benefits, and keep you out of hot water. Having your books kept up-to-date by a bookkeeper is much less expensive that having an accounting firm to do it; but, having an accountant oversee everything ensures that you are always on the right side of the law, and that you are on course to reach your financial goals.