By
Joe J Smith
Frugal business owners will reap the rewards when they follow these tips and save money around every corner. When you're just starting out or struggling through a dampened economy, saving money
is a priority. Many businesses may suffer, but being tactful and
purposeful in your spending will help you ensure that your business
profits exceed your expenses.
1) Depending on the nature of your business, you may be able to save money on your website. It can cost thousands of dollars to hire someone to do it for you, or you could simply spend a few hundred on a program that walks you through building your own. Sometimes this works out better because you are adding in personal touches all over the site. Just keep your brand image in mind and be willing to put in the hours.
2) Promote yourself as opposed to paying for lots of pricey advertising. In today's day and age, you can build meaningful personal and business relationships using social networking sites online. Stay active on the sites at least weekly. Offer special promotions, contests or benefits to your fans and followers. Word of mouth will have you building your business for free in no time. Plus, you can directly target the customers and clients that you would like to have.
3) Save money on office or store décor by featuring artwork provided by local artists. Artists are generally more than willing to display their work in public places. Allow them to put business cards in your office or near the register so that people can contact them if they would like to purchase their artwork. This is an easy way to make your space unique without spending a dime.
4) Be your own accountant. There are all kinds of software on the market that will help you to track and run your business. Doing your taxes online through a program that walks you through deductions and reporting is really not that difficult. Some programs even upload your financial software and do most of the work for you. For small businesses, this type of tax reporting is generally sufficient. If you're nervous or think that it's getting too complicated, go to a tax advisor. This is still a lot cheaper than hiring an accountant.
5) Most small business owners end up hiring a secretary or personal assistant to help them keep up with everything. You can avoid this cost by using planners and services that help you keep track of everything, without depending on an employee. Online calendars can pop-up reminders, e-mail you when something is due, or even send a text to your phone. You can pay under $10/month to access mobile concierge services that connect you to a live assistant, 24/7, from anywhere in the world. This service is really helpful when you need phone directory information, flight statuses, restaurant recommendations, turn-by-turn directions, stock quotes and more.
1) Depending on the nature of your business, you may be able to save money on your website. It can cost thousands of dollars to hire someone to do it for you, or you could simply spend a few hundred on a program that walks you through building your own. Sometimes this works out better because you are adding in personal touches all over the site. Just keep your brand image in mind and be willing to put in the hours.
2) Promote yourself as opposed to paying for lots of pricey advertising. In today's day and age, you can build meaningful personal and business relationships using social networking sites online. Stay active on the sites at least weekly. Offer special promotions, contests or benefits to your fans and followers. Word of mouth will have you building your business for free in no time. Plus, you can directly target the customers and clients that you would like to have.
3) Save money on office or store décor by featuring artwork provided by local artists. Artists are generally more than willing to display their work in public places. Allow them to put business cards in your office or near the register so that people can contact them if they would like to purchase their artwork. This is an easy way to make your space unique without spending a dime.
4) Be your own accountant. There are all kinds of software on the market that will help you to track and run your business. Doing your taxes online through a program that walks you through deductions and reporting is really not that difficult. Some programs even upload your financial software and do most of the work for you. For small businesses, this type of tax reporting is generally sufficient. If you're nervous or think that it's getting too complicated, go to a tax advisor. This is still a lot cheaper than hiring an accountant.
5) Most small business owners end up hiring a secretary or personal assistant to help them keep up with everything. You can avoid this cost by using planners and services that help you keep track of everything, without depending on an employee. Online calendars can pop-up reminders, e-mail you when something is due, or even send a text to your phone. You can pay under $10/month to access mobile concierge services that connect you to a live assistant, 24/7, from anywhere in the world. This service is really helpful when you need phone directory information, flight statuses, restaurant recommendations, turn-by-turn directions, stock quotes and more.
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