When you are starting or growing a business, every cent counts! And while I’m a huge fan of shopping around and getting the most bang for your buck, there are pitfalls to being overly frugal.

To avoid being penny wise and pound foolish think of the big picture and you’ll actually be able to save money and headaches in the long run. Here’s what you have to do…

Invest in your Success

Instead of obsessing about “expenses”, understand that creating your professional image takes a real budget, so you can hire a talented team of creative consultants from the start. The old adage “you get what you pay for” applies in spades here! If you want prospects and clients to take you and your company seriously, retain the services of a professional graphic designer and a web master, a copywriter, and a printer. These folks are the source for developing and disseminating your exclusive brand – the look, flavor and personality of your company, its services and benefits.

It’s not opinion – it’s a fact.

Well designed and correctly written marketing communications materials serve your best interests. Great collaterals and powerful prose help to distinguish your firm, attract clients and increase sales. Hack jobs (slapped together by less qualified and cheaper resources) look it, and can actually impede your progress! If you want to really launch strongly, add on an SEO expert (someone who can help you insure that your web coding is up to snuff, to organically raise your search engine rankings).

Keeping Competitors at Bay

Think about your behavior as a consumer. Your life is busy, and you don’t have a moment to waste trying to figure out anything. Your prospects are just as demanding. With advance planning and a good handle on your objectives, strengths and your target markets, you can develop a strong strategy (and the right approach in the right venues) to keep your prospects from clicking away to your competition.

So smart spending with a realistic budget at the get-go can actually help you achieve your goals in a shorter period of time. I’ve interviewed and worked with many booming businesses and the feedback I’ve gotten is the same, no matter what industry. Successful business owners profit from a wise investment with the right players (which includes outsourcing or hiring to handle admin and bookkeeping tasks). Bottom line: if you want to be profitable in a shorter window of time, it requires doing some homework, thoughtful planning and implementation (read investment of dollars).

Ask around and get referrals. Don’t fall into the penny-wise trap and get the professional help you need to, in order to get the results (from your unique website, direct mail, brochure, business cards, print or online ads, etc.) the first time around. Here’s to your success!

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Pattie Simone is a Business Speaker, Writer and Mentor. She covers smart career and entrepreneurial tips on ABC TV’s nationally syndicated America This Morning program and is an Ask Entrepreneur Expert at Entrepreneur.com. Simone owns Write-Communications.com, a consultancy delivering winning branding, positioning, messaging, marketing planning and strategy solutions to startups and growth-track firms. She is also the founder of WomeCentric.org, a dynamic speaking bureau which taps the expertise of diverse women thought leaders, for lively career advancement, leadership & entrepreneurial keynotes, workshops and seminars.