To minimize your business startup costs and expenses (for basketball camp business), it boils down to two things:
- Get only essential items
- Gotcha’s to watch out for
Get Only Essential Items.
When getting started with your basketball camps, here are the (low) cost items you’ll need:
- Setup legal entity
- Initial checking account deposit
- Email & web hosting
- Business cards & flyers
- Security deposit for gym (optional)
- Basketball equipment
Each item noted above are relatively low-cost items, and can easily be done.
Within the Monetize Your Basketball Coaching membership, we’ll help you go thru each of the above steps and give you a FREE one-page, personalize business basketball website (that will make you money).
Gotcha’s to Watch Out For:
Often times, when starting a new venture such as basketball camps, it’s easy to go “crazy” with “shiny red objects”!
Just because something looks and seems good, doesn’t mean it’ll pay off for your business.
Be careful with the following such items:
- Expensive logo & website design
- Excessive gym rental fees, including supervisor
- Overpaying for business operations (accountant, marketing, get-rich quick schemes, etc.)
I’d be the first to admit, I’m guilty (and poorer) because I jumped at many “shiny red objects”. Not good! Please, don’t make the same mistakes I’ve made.
In summary, be extremely careful with your spending. Only get essential cost items, and stay away from those that are non-essential.