Initial startup costs are some of the biggest expenses a new business owner will have to encounter. Before you turn a profit, there are many parts of the business that need to be covered up front, and entrepreneurs don't always anticipate some of these expenses.
To reduce your startup costs and stretch your dollars a little farther, follow these tips.

1. Have a budget, and stick to it
A simple way to save money as a new business owner is to set spending and expense limits. However, a surprising number of business owners don't have a formal budget. "There is so much power in knowing what is going on in your business, for better or for worse," I advise setting up a standard time every week or month for reviewing and managing your budget."

Entrepreneurs are also to factor their own salary into the budget as soon as possible. When you don't pay yourself, you take money out of the business elsewhere to cover your own expenses, giving yourself a salary forces you to make everything in your budget work.

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