Being a savvy spender is crucial for small business owners. These entrepreneurs have to watch every dollar to manage cash flow, make payroll, and generally stay in business. But being cash conscious shouldn't mean spending as little as possible on everything.
If you're trying to grow a healthy small business, there are some investments that are worth every penny in the long run.
Here are six things worth the investment for small business owners:
1. A robust online presence
Setting up social media accounts and a basic website can be cheap — if not completely free — but unless you're a web designer, programmer, content creator, search engine optimizer, and a social media expert, that's not money well saved. According to a 2014 Neustar Localeze and 15miles study, four out of five local searches on mobile devices end in a purchase. And if you want to be found on the internet these days, you should invest in all aspects of your web presence — from being mobile-friendly to producing high-quality content.
