5 Little Known Ways Businesses Can Save Money

Most businesses are expensive to run.  That’s pretty much a universal truth.  However, if you’re a freelancer, and all you need is a laptop and an internet connection, you may well be the exception to the rule!  But that said, you likely still spend money on accounting and other costs, right?

So however big, or small, your business, listen up:

Make Advertising Accountable

Brand advertising is great for Coca-Cola, but you’re not Coca-Cola!  You need accountable advertising that gets results.  That means leads that convert into sales.

And the most accountable advertising you can do is online.  There’s Google AdWords and Facebook’s platform.  There’s also LinkedIn and numerous other options.  In fact too many to list, although the bulk of traffic does come from Facebook and Google.

The problem is, effective online advertising truly is an acquired skill.  And since you’re busy running your business, you may not have time to acquire that skill.  And really, you shouldn’t be expected to acquire that skill.

So paying someone to generate leads and sales for you can be money well spent.  Choose who you outsource to carefully, but they can significantly help your business grow.

Outsourcing is Now Mainstream

The days of having to recruit staff locally, and drag them into your office every day, are long gone.  Since now you can interview and recruit staff from all over the world.  Skype is such a blessing!

You can then perhaps bring them on as full time, or even better, keep them as freelancers.  That way, you only pay them when you have work for them.

And even surprising things like hiring Managed Print Services London can save you a bundle.  As this can show you where your paper usage is losing you money every day.

Remember to Negotiate

If you always take the first price you’re given, chances are you’re over-paying.  Now at the other extreme, always asking for a discount may put people’s backs up.  And this could lead to them choosing not to work with you in future.

Let’s say you’re buying training courses for your staff.  Well, did you know that the advertised price can often be reduced up to 50%.  Sometimes even more.  There’s a hefty margin there for their sales people.  So eat into that margin by getting a discount!

The Cloud (Of Course)

The cloud offers a wealth of functionality and apps that can make your business life a lot easier.  In fact, much of it can save you money.

For example – accounting software is moving to the cloud more and more.  You don’t need to pay for very expensive accounting software and have it on your computers any more.  You can instead ‘rent’ it from the cloud.  You get just as much, often for a lot less money.

Market More Your Customers

Now, this is more about making money rather than saving it.  But with this tactics, you’re saving significantly on marketing costs.  Because your existing customer base (even dormant customers) is one of your most valuable assets.  And most businesses don’t market to it enough.