When you run a small business, money is always a little tight. That is why small business owners are always looking for a way to shave a few dollars off operating expenses and keep costs down. While saving money is difficult in any situation, that does not mean that there aren’t ways to keep costs under control while growing your business.
Get Economical With Your Marketing
Instead of investing in a lot of marketing giveaways that may or may not be popular, you should invest in custom bumper stickers instead. You can get all of the stickers you need at a very reasonable price, and you can encourage your family and friends to put them on their vehicles. Bumper stickers are like moving billboards that get seen by hundreds of people a day, which means that you will get a good return on your investment.
Use Independent Contractors
One way to keep the cost of labor down is to use independent contractors for specific tasks such as marketing and accounting. With independent contractors, you only pay for the work you need done and there are no extra payroll expenses. Independent contractors supply their own equipment and supplies, and you don’t have to pay overtime to make sure that the job gets done by your deadline.
Do More On The Internet
Do you send vendor payments out via standard mail because it is an old habit that is hard to break? It is time to break that habit and start paying your bills online. When you do things online, you save your own time and you save the added expense that comes with activities such as mailing out payments. You can also get involved in free video conferencing services that will allow you to have business meetings without having to spend money on travel expenses.
Sometimes the best advice is to just be practical with your money. Instead of always eating lunch in restaurants, you should start bringing your lunch from home. Instead of buying cups of coffee from the local coffee shop all day long, you can bring your own coffee and save a lot of money.
For the small business on a shoestring budget, saving money is not always easy. But when you start to take a look at the way you do things in your professional life, you can see ways where dollars can be saved.