FIVE SIMPLE WAYS TO SAVE COSTS IN YOUR BUSINESS TODAY
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Check those credit card deals
You can save an average of 45 percent and as much as 75 percent in energy costs by automating lights when no one is using the room. Blackout curtains can save as much as 25 percent on energy, and they can also help block up to 40 percent of noise, making it easier to work and concentrate. Use double-sided copies by default and reuse any single-sided copies for notes or as scratch paper. Reach out to local high schools, career centers and colleges for students looking for internships who will be thrilled to lend a hand — and gain experience in the process.
Save money on marketing and advertising by doing your own social media updates.
If your employees are willing and social savvy, ask if they would like to post updates. Instead of spending on newspaper advertising, encourage customers to leave reviews on Google. Passively track your mileage with apps like MileIQ. If you have meetings outside the office or go to networking events, be sure to track and deduct those expenses as well.
Create partnerships with other small business owners and save money on supplies and services that you all use. You can join associations or local groups, or create your own network. Save those face-to-face meetings for when it really matters. For simple demonstrations or update meetings, use virtual tools like Google Hangouts or Skype.
If you have a room, space or even a closet that is unused, you can earn a little extra by renting it or subletting it out.
You may be able to get really good deals on new phones that are a model or two back from the currently advertised, lower your monthly costs, or, more likely, get more data for the same money. You'd be surprised what you can claim for as a business owner — portions of rent , elements of your phone bill, heating allowance, furniture, business equipment. But people often make this argument too early on more because they don't want to do what they'd prefer not to. This means we pay them less, and they pass on the savings to us. Talk about a time and money saver!
Consider giving yourself and your staff an extra day or two off during the month. This is a counter-intuitive strategy, but customers who are paying less but who require additional hand-holding, support and hard-to-quantify services are costing you money.
50 Painless Ways to Save Money in Your Business Operations - Small Business Trends
If your office or production space is full of clutter, unused equipment or inventory, clean it up, sell it on eBay or local Facebook groups. This will free up space and add more dollars to your bottom line. Instead of hiring additional full-time employees, look for opportunities to cross-train your team. This will reduce boredom from repetitive tasks and add flexibility to your operation. Share your budget constraints and negotiate products, services and payment schedules to meet your budget. Piggy Bank Photo via Shutterstock More in: She also spearheads the annual Small Business Book Awards.
Ivana publishes DIYMarketers , where she shares daily do-it-yourself marketing tips, and is co-author of "Excel for Marketing Managers.
50 Painless Ways to Save Money in Your Business Operations
That will help you save some money. Starting businesses need to save as much money as they can. This way, they can power their operations better. I think that it works to have a budget for everything.
And to have an emergency fund for unexpected expenses. Your email address will not be published.
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I've seen people get itchy for the next new phone or computer or what have you that comes around. Every time you spend money on something new, you're reducing your net income.
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Generally, older equipment will work perfectly fine. A PC can easily last 5 to 7 years and a smartphone usually has much more life in it that people expect. The upgrade drumbeat is the strategy of companies that want to make more money off consumers over time. You often hear people comment on the value of an hour of their time and how it always makes sense to have others do things instead. There is some truth to it. When a business grows, eventually you need to offload work because the supervision and management task becomes larger.
But people often make this argument too early on more because they don't want to do what they'd prefer not to.