We all know how much it can cost to run a small business. When we start a new business, we generally underestimate how much money it takes to get a new idea on the way, and we’re equally guilty of forgetting how much a company costs to run. If you keep these costs to a minimum, you can create the basics for your business and no longer worry so much when you look at the monthly expense sheet.
In the following, we describe some business areas that are worth a look to see if savings are possible. With a little ‘ cost-cutting ‘ here and there, the savings can rise, and let’s face it, saving money in business can be almost as important as making money, especially in the beginning.
Search for Cheaper Services
Have you just moved into a brand new office? Or do you run the business from home? In any case, you should check your current service contracts and check if savings are possible. Your broadband bill is an area that needs to be investigated. Most of us are now using the Internet for most of our communications, and if that applies to you, it might be worthwhile to consider a relatively new broadband style called ‘ naked broadband ‘. The whole nudity refers to the fact that the provided service is reduced to a pure data line instead of enclosing a telephone and a TV package. If you rarely use your phone and use most of your TV over the Internet or OTA, you can save money with bare broadband packages.
Look for Free Advertising
It cannot be stressed enough, advertising via social media is of great importance to any business, from small startups to large companies. The great thing about social media platforms like Facebook, Twitter, and Pinterest is that they are essentially free. While you can pay for targeted ads, they cost money, so instead, you can rely on good customer interaction and drive your brand through share and likes, which saves you a lot of money compared to the outdated forms of advertising. If you pay for ads in a local newspaper, you can get one or other customers through the door, but it won’t have the same move that an online social presence will have. You also cannot see information about the demographics of your ad, and there is no way to continue to deal with them when you are sitting on the fence in terms of using your service. If you pay for advertising and don’t find that there is a lot of traction, you may be able to invest your advertising budget in other areas and try yourself as a social media guru.
Take Advantage of Free Software
So you need to buy Microsoft Office to run a company, right? Wrong. While the office protocols are quite ubiquitous everywhere in the business world, there are now many free alternatives that work pretty well or are indistinguishable compared to actual office. Google Docs has gone a long way in recent years, just like LibreOffice, which allows you to save documents in the same way and file structure as the official version of Microsoft. If you absolutely need the Microsoft version, it’s worth looking into the Office365 version, because you can pay for it every month, scaling it up and down as needed, and getting the latest version of any application, such as Excel or Word.
Other services that should be considered are mobile phone contracts. If your phone is perfectly fine, but you need an upgrade, consider completing only one SIM contract. As beautiful as the latest iPhone or Samsung Galaxy is, they are an issue that most of us don’t need, and sim contracts are usually much cheaper. After all, these upgraded phones are not free, but the costs are hidden in your monthly contract. If your phone is OK, you may want to make a more favorable offer than to opt for the tempting upgrade.
Do Business Together
If the service you provide to your customers blurs the lines with other companies that are not competitors, it is worthwhile to maintain relationships with them. Applying to each other as useful complementary services can be of mutual benefit to all parties. For example, if you have a dry cleaning business, it might be worthwhile to work with a tuxedo rental company. You can recommend each other for different events and reciprocal links can increase traffic to your own websites. In essence, this is free advertising. Not only that, but the more links to and from active sites can help to drive your pages into Google rankings.
With a little snipping and cost-cutting, you may end up saving yourself a considerable amount of money in the long run, and the more you start to snap the more you start to wonder in what other areas of business you can make savings. Take the habit of looking for cheaper alternatives, it’s one that goes well with you. The old saying “Take care of the pennies and the pounds will care for yourself ” becomes your mantra before you know it.