You should take various factors into careful consideration when deciding what gadgets to splash your cash on – especially with a low starting budget.
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Before I begin – the reason why I have chosen to write this article based on the new iPad and not on any other tablet is purely from personal experience, if you are thinking to buy any brand of tablet, I would most definitely recommend to go for the Apple brand.
You’ve got to begin asking yourself the following questions:
Budget: If it means spending half of your initial budget on ‘the new iPad’, maybe it isn’t such a good idea. To see whether your budget can stretch for luxuries such as an iPad you can simply refer to your business plan. After calculating your budget and you have purchased all of the necessary current assets (short term assets), non-current assets (long term assets), and taken into consideration a provision for any costs your business may incur within the first 1-2 years – ask yourself, do you still had money to spend? If you do, firstly I’d like to mention that you have a brilliant sized budget, and secondly maybe it won’t hinder your financial statements if you were to invest in one. When Oz (my business partner) and I launched our first business: Levzi.com, we had a very small budget. We didn’t have the luxury of time to research grants, however you lucky readers can browse the grants that you may be eligible for, from the click of a button! These grants may dramatically help the start up of your business – allowing your business to be able to afford the extras, such as the new iPad. Or if you really want one, you can set up an extra income stream part-time to be able to afford one.
Necessity Vs. Desire: To get to this stage of spending your time to read this article, it is most likely that you are considering to set up your own startup business or indeed already have. Thus you will have a brilliant unique business attitude and ethos. So don’t let yourself down, if you don’t have the funds to afford one, don’t give into temptation to buy an iPad if it simply a desire and not a necessity. Tell yourself repeatedly that in a few years or indeed several months, you may have broken-even and began to build a healthy bank balance with the success of your business. At this point and at this point only, is the stage where I believe you can have this luxury to even consider purchasing items that will boost your ego or fulfil your desire.
Nature of Business: On the other hand, if your business involves constant access to your emails, word processing software, continuous real-time updates of the sales your business is making etc – then the new iPad may be an investment worth £399. Will it dramatically increase your businesses efficiency? After all the new iPad to me is like my bible – I take it everywhere I go; allowing me to write articles wherever I get a spark of genius and whenever I feel like it.
I’ve found, that these rules can generally apply to any doubts you have when debating whether to purchase an item for your business. Can you afford it? Is it necessary? And will it make your business run smoothly enough to spend £399 on one? If the answer is yes all of these, then with all my support; the link for the new iPad: www.apple.com/uk/ipad