Every business owner goes on a quest to save money. They maximize their dollar by eliminating costs whenever possible. You already know a few of the major money saving tips, but you are still searching for other ways to cut expenses. Let our guide help you save even more money this year.
Make bills, receipts, invoices, and other business records digital. Going paperless eliminates some printing costs. It also saves money on paper and ink.
Set up a Digital Shop
Avoid spending thousands a month on an office or storefront, instead create a store on Etsy or eBay. This store generates revenue that you can eventually use to open a physical location.
Eventually, set up your own website to receive more of your profits directly, without having to worry about extra fees. Freelance or remote workers can advertise their services by creating a profile on a popular freelance website, such as Contently, WordPress, and Clippings Me. Once you generate enough money, invest in a website to advertise your services.
Use your Network
Find a neighboring business to split certain supply and demand costs. For example, share an office space instead of paying for the full area. Split minor expenses with another reliable small business.
Try to negotiate for a lower price. Only attempt to negotiate with companies that you already have a preexisting relationship. Based on your good history with payments, the company may be willing to cut your costs. Barter deals. Approach other small business owners about trading services. You will help their business if they provide a service for free or discounted.
During the beginning stages, ask friends and family if they would be willing to help you with work, for free. This extra free labor may make the early stages of your business a lot easier. Repay your generous friends or family members with future favors.
Find an intern who may want to help you to learn more about your company or industry. Hire temporary workers or freelancers instead of a full-time staff when you cannot afford 9 to 5 workers. Use a temp agency to find temporary workers.
Place ads on Craigslist or freelance job boards to attract a wider net of freelancers.
Approach your local news station about doing an interview. Also contact websites that focus on the same area as your business, and then ask to write a guest post.
An interview on a local station gets the name of your business out there to a much wider audience. The same goes for interviews or guest posts on websites with a large following. Take as many opportunities as possible to get free publicity for your business.
Buy Supplies with Gift Cards and Coupons
Make supply purchases with gift cards to avoid overspending and credit card fees. Buy discounted gift cards on eBay, Cardpool, and Gift Card Granny.
Print out coupons before visiting your favorite stores. They get you discounts on many of your business needs, including using coupons to get Columbia casual wear for the office.
Join an Association
Official associations for certain businesses offer discounts for things related to that business. For example, a teachers association is likely to offer its members discounts on educational software. The yearly fee might be worth it if it ends up saving you more money.