14 Ways to Save Money When Starting or Growing a Business

1. Mentors and Advisors

Instead of paying for advice on legal, accounting, funding or other key business issues, use your brain trust of mentors and advisors as much as you can for advice, feedback, and meeting other important contacts.

2. Free Consulting Services

Organizations like SCORE and your local Small Business Development Center (SBDC) offer free consulting and training. SCORE has more than 300 chapters in the United States, and everyone who calls gets an appointment. There are nearly 1,000 SBDCs in the United States that offer free consulting and educational services.

3. Barter or Trade

Bartering -- swapping one thing for another -- has been an effective way of doing business for centuries. In recent years, bartering has evolved into a sound strategy for finding goods, trading services, conserving cash, moving inventory, and locating excess production capacity. The International Reciprocal Trade Association (IRTA) helps match up companies interested in bartering for goods and services.

4. Nonmonetary Incentives

Members of your team will often work for equity or deferred payments rather than initial salaries. This will help you keep costs down during the launch and early growth stages of your business.

5. Supplier Partnerships

The right suppliers can save you a great deal of time and money: They can provide high-quality materials, help with product development, offer on-time delivery, and allow extended payment terms. Obtaining 30 to 90 days of trade credit is the best business loan you can get.

6. Customer Partnerships

Partnering with customers during your launch is an excellent cost-saving strategy. Select a few key customers, and offer them deals they cannot refuse: discounted pricing, special packaging, strong support, etc. In exchange for these deals, ask for long-term commitments to purchase your products. And whenever possible, get customers to pay early -- ideally, even before you deliver their products or services.

7. Outsourcing

Outsourcing is a multibillion-dollar industry. You can find outsource partners to provide just about any product or service you need. Outsourcing turns what would normally be a fixed cost into a variable cost because you only use the service when you need it.

8. Distributors, Reps, and Affiliate Partners

Most industries have distributors, manufacturers’ representatives, and affiliate partners who will sell your products through their existing distribution channels, which can be extensive. This is a great way to build sales quickly and conserve cash because you don’t pay the partner until your products are sold.

9. Commissioned Sales Force

Use a commission sales program when you’re ready to hire team members to sell. This will attract people who really believe in you, your products, and your purpose. It also conserves cash by keeping your fixed costs low.

10. Work Virtually

In this new age of technology, it’s possible to work from just about anywhere: from home, in your car, at the airport, or in a hotel room. By working virtually -- and allowing your employees to do the same -- it’s not necessary to take on the expense of establishing an office when you’re launching your business.

11. Borrow, Rent, Buy Used

Find ways to use other people’s resources in addition to your own. Whenever possible, borrow rather than rent; rent rather than buy; and buy used rather than new. Some industries have excellent equipment available for a dime on the dollar. Also, go to bankruptcy sales and auctions to see if you can find what you need.

12. Use Free Software

Free and inexpensive software is plentiful online. Various available programs can help you manage your finances, plan your projects, track your customers, and much more. You can also take advantage of free trial periods for most business software. This gives you a chance to use the application for free for 30 days or more to determine if you really need it.

13. Minimize Your Expenses

Keep your personal expenses to a minimum when launching your new venture. This isn’t the time to buy a new house or a new car or take on personal debt. The longer you can live with minimal expenses, the better off you’ll be. Likewise, don’t take on any ongoing business expenses unless they’re absolutely necessary.

14. Sell, Sell, Sell

In startup companies everyone is in sales. All your team members need to talk about your company, promote your products, and assume responsibility for producing revenue. Remember, low costs and early cash flow are critical to success.

1 Day Left Until our National Conference 2016!

Yesssssss!!! Only 1 more day and our National Conference Weekend begins with ‪#‎JairekRobbins‬. Networking with ‪#‎entrepreneurs‬, businessman, business woman, cocktail hour, dinner, & so much more.‪#‎ModernMarketingDetroit‬ is EXCITED!!!!

4 Days Until our National Conference

Kheir Maxwell Executive Promotion!!!

(Pictured: Kheir Maxwell; ETL)

Modern Marketing Detroit would like to announce a promotion that has been truly earned to Kheir Maxwell! Mr. Maxwell is now an Executive Team Lead here at Modern Marketing and at just age 19, he has accomplished so many promotion here with us! He was born and raised in the hearts here of Detroit, Michigan while enjoying his favorite hobby of basketball. Mr. Maxwell continues his college education majoring in mechanical engineering on a basketball scholarship while being his own entrepreneur here at our company. This young gentlemen definitely has extraordinary drive and the mindset of "You can never be too young to be successful." 

Mr. Maxwell wants to prove that you can be successful if you stay humble and open-minded throughout your life, because there will always be bumps and bruises down the road of gaining experiences. But that's what makes an entrepreneur and an employee different, because and entrepreneur continues to stay motivated and dedicated throughout all of the tough times. They understand the purpose of the set backs to get to their dreams and goals that they continue to work so hard for. At the end, he understands that you learn to not make those same mistakes as well as anyone can accomplish the same goals as him, because "We all breath the same way, tie our shoes the same way, eat the same way, and walk the same way."

Help Give Back

Check out our Charity website Soles 4 Souls and learn how to give back! If anyone would like to donate any old or new pair of shoes, stop by our office for our donation drop box. Any help is great.

Address: 530 Stephenson Hwy
               Troy, MI 48083

Check it out now --> Soles4Souls

At the Golfing Range

On Thursday evening, the office decided to go to the golf range right by our 

office to get some relaxing time in and the chance to enjoy some time with each other. 

The whole office works so hard that it is always good to just be able to take off our 

suit & tie and take some swings. Some of the guys would love to be on the 

golf course all day and every day, while some of us would just 

love to be some what decent. We are always looking for new ideas of things to do. 

So what are some of your favorite hobbies? We would love to get some suggestions. 

Comment below.

Amra Saljic Promotion

Another promotion at Modern Marketing! It's great to be a part of a business with endless growth and opportunity! Congrats to Amra Saljic for continuing her dedication and drive to show that hard work definitely pays off. When she wants something, she goes after it without being stopped. Amra continued to push with her all and understand why you are wanting to build and develop yourself for your successful future! 

"DO NOT give up & YOU will get there some how some way!"

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Here are some ways to help anyone who wants to get promoted from a position they are currently in :

Surround yourself with people who challenges you.

Don't expect or want the need to get praised, get criticized with information on how to improve your work to get better.

'No Drama' - Those in the office should not effect your working capabilities.

Enjoy what you are doing, so just simply SMILE.

Take notes in order to learn from others and the speakers.

Never skip an office party, because a strong office relationship will create a great and strong dynamic.

Ask for help if needed.

Have a solution when things are not working out.

Know your job & just do it.

IDOLS becomes RIVALS

IDOL: Person or thing regarded with admiration, adoration, or devotion.

RIVAL: Person or thing competing with another for the same objective or for superiority in the same field of activity.

Every one has an idol who they want to model their life after, especially entrepreneurs. Entrepreneurs has their own vision but also understands success. And in order for success, entrepreneurs need to understand other successful entrepreneurs vision in order to one day become as big if not bigger. We all will become idols to others and rivals to some but it will mean nothing if we do not create our own success for ourselves. 

Prencis Chism Promotion!

Congratulations are in order to Prencis Chism on her wonderful promotion. 

The one thing that has really helped Prencis Chism get her to her promotion was thinking positively. With a positive attitude, we experience more of a pleasant feeling that brings energy, brightness, and happiness to our eyes as well as success. So Prencis definitely shined through her days since she started just weeks ago. Positive thinking is contagious and Prencis has definitely brought her energy into our office by affecting the people who she would meet in one way or another. For her, it happens instinctively and on a subconscious level, through words, thoughts and feelings, and through body language. 

We are all so proud of you! 

Thursday Night Hangouts!

We had a couple of our other offices visiting us yesterday night, so we all decided to go network with each other and to just have a relaxing evening. Even though we all work hard, we all still need to remember to enjoy some things in life and to build those great relationships with out business partners. The great thing about our company is that everyone has their own goals but are always willing to give out a helping hand. Every person in the room last night had an amazing time full of stories and laughter. Let's continue to build memories and the wonderful relationships we already have with one and another.

Thought of the Day

'Things may come to those who wait, but only the things left by those who hustle.'

-Abraham Lincoln

At times, there are those out there who believe they deserve the best things in life. In actuality, they do not deserve such things at all. The most cherished things in life are deserved and earned with blood, sweat, and tears as they all say. Which is definitely true. We all will have to wait for our time to come and the ones who hustle are always sharing their earnings. So make sure the hustle is on our mind every second in order to achieve the best things in life that we want and deserve.

ELC

Emerging Leaders Conference

We are excited to reconnect with all of our other offices around the states in just about a month. It will be great to see how much we all have grown and the development of old and new faces. We will also be discussing our new expansions we recently had to our organization and our upcoming Top Performers Retreat to Las Vegas this September 2015. So let's get everyone promoted and have fun at our upcoming conference!

So lets get ready for our ELC Conference this July 25th till the 27th.

PUSH THROUGH PAIN

"Times will come where it feels as if the weight of the world is on our shoulders. Make a conscious decision to refuse failure and push through the pain."

Don't you ever think and say to yourself: "I don't want to do this anymore!" or "I can't do this." At times we all forget about why we started the fight so it's extremely important to make sure we push through the pain no matter how hard it may get or seem. What motivates you to work so hard that you know you can never give up? Constantly think about your whys because that will be the only thing to give you the strength to continue. Are you fighting for your family, your friends, for time, for wealth, for freedom, for endless options, or for the world. You are the only person who knows how to motivate yourself.

Promotion Time!

Congrats goes to MaKenna on her promotion! MaKenna was born and raised in Grayling, Michigan. She graduated Grayling High School then to Lawrence Technological University and continued her education at Oakland Community College. Some of Miss. MaKenna's favorite things are the color orange, to read, to cook, and to play team sports. Great job on your hard work lady, you deserve the great things in life for all the time and effort you put into the different tasks you want to acheive.

Unstoppable Partnerships

For a partnership to be successful each member needs to feel a sense of support and optimism about the collaboration. When partnerships are supportive they are infused with hope. What sustains motivation is the belief that with partnership things can only get better. When you feel supported in a partnership they become inspired to more clearly visualize the process of achieving the goal. It is essential that the partnership be grounded in an unwavering belief in the integrity of the goals and values of the desired purpose.

Trust is a basic need for a successful partnership. All partners need to know the relationship is collaborative, loyal and solid. If the partnership is in need of support or guidance, the partners trust they can come together in a way where needs and concerns can be met and realized. Elite partnerships are made up of people who view each other as necessary equals and show mutual respect for each other's differences. They find ways to focus on solutions, not problems and are committed to open communication to keep things together.

In successful partnerships, there is an unceasing commitment to equality, diversity and flexibility. Each member leads by example, has sense of personal freedom and an undying commitment to the goals at hand. Collaboration is build upon open and honest communication, direct and consistent interaction and the personal time to think things through. Each person understand their role in the relationship dynamic and what each must do to be successful. Each member is fully supported and encouraged by the partnership to fulfill all of their individual and collective goals. In this way a successful partnership is made up of strong individuals being supported in a collaborative and collective relationship dynamic where all are striving towards shared success.

Be Your Own Boss

Imagine a life in which you can live on your own terms, have the freedom to choose how you spend your time and the projects on which you work. With enough planning, patience and determination, this situation can be yours. While self-employment can be tough at times, as it comes with its own problems, stress and setbacks, the sense of accomplishment and pride you'll derive from it is worth the investment.

Why should you be your own boss?
1. The flexibility to work anywhere because you can choose your location you want to work in and with your laptop or iPad, you can work anywhere.
2. Do work that you enjoy because we spend about 80% of our lifetime spent working. So while you're working, why shouldn't you have fun? Be an entrepreneur and get paid to do something that you actually enjoy.
3. You have the opportunity to create jobs for others. There's no greater accomplishment than being able to support others to help them pay their bills and feed their families.
4. You will leave a legacy behind for your family and close ones. Working for yourself is an adventure. It will provide you with great stories to tell, wisdom to impart and a reason for people to remember and to respect you.

Inhale Confidence!

Confidence is a tool you can use in your everyday life to do all kinds of cool stuff, not to second guess yourself, not to manage your fears, and to have the strength to do more of the things that really matters to you. But not many people realize that their lack of self-confidence hesitates them to do so and self-confidence works like a muscle - it grows in response to the level of performance required when used. Either you will use it or you will lose it. 

Here are some tips to grow your own CONFIDENCE:

1. Learning is a good thing, so build your knowledge by taking classes or reading.

2. Get out of your own head by asking a close friend what they think.

3. Go to a networking event and focus on how you can help others rather than being nervous about your own.

4. Write a list of things you're tolerating in your life and see how you can remove, minimize, or diminish each one.

5. Acknowledge and welcome all of your experiences - the good as well as the bad stuff.

6. Don't feel like you have to do everything yourself - sometimes the most confident thing is to ask for help.

7. Stop comparing yourself to others.

8. Don't get disheartened or demotivated when things go wrong.

10 Life Hacks From a Millennial Millionaire

You are young, ambitious, confident and you want to be a millionaire? Or maybe you're just ready to take things up a notch and finally start that business you have been dreaming of, but are afraid of the financial risks and not sure you want to give up the perks of a salary and benefits. The biggest question you may be asking yourself is: What are you willing to give up to create the life and business that you really want?

Here are some tried and true hacks from a millennial's perspective that just may lead you to become a millionaire; click the link below

10 Life Hacks From a Millennial Millionaire
1. Keep it simple.
2. Be frugal.
3. Invest in yourself.
4. Meditate.
5. Stay healthy.
6. Network.
7. Give, give, give.
8. Think outside the box.
9. Be yourself.
10. Don't give up.

Executive of the Week

Congrats to Joshua Jordan for being the top gentlemen this week by motivating others with his daily morning quotes which he posts onto our GroupMe chats where the office all stay connected in. 

"Successful people are givers and not takers of positive energy. My point is, if you maintain a positive 'tude its transferable to other people. Staying positive will get you to your goals a lot quicker. This is a way to success, and success should be your only option. #Jordan23"

Mindset of Success

Mindset is probably the major determinant of success in pretty much every walk of life. In other words, the thinking patterns you habitually adopt largely govern the results you achieve. But different cirsumstances and situations require different mindsets, something that anyone looking to leave paid employment and strike out on their own, must be aware of. Unfortunately, not all would-be entrepreneurs understand the dramatic mindset shifts required, without which business success is unlikely.