Saving money isn’t simply the latest fashion buzzword. For many it has become a means of business survival. At a time when business is down how do you advertise more? How do you invest in your business when there’s little to invest? Get creative!
Take one more look at what you can do without. Many things such as phone or internet contracts, vehicle payments and building rent or payment can’t be changed. But many things can be! Consider an office area to meet with clients. Instead of a working lunch at a restaurant maintain easy to serve options and an on-site option.
Advertising is something that must be done but it doesn’t mean it must be expensive. Consider using social media to build a loyal customer base. It takes longer, it’s true but it also allows for a more loyal customer. It allows for personal contact with people. As many farmers and agricultural people have found it also is a great way to reach your end customer.
There are many ways social media can save money for your small business. Twitter and Facebook allow for short contacts several times daily. Informational YouTube videos need not be expensive – show your product, show what you do, give weekly minute long informational videos. This takes a little time and practice but chances are more will see it than a network spot for much less money. A blog is another way to reach out in a little more depth, with information related to your business, what you do and/or the products you deal with. This isn’t all about selling – it’s informing. Allowing others to learn from you and learn something they didn’t know before sticks in their minds more than most commercials they’ll hear.
Stock up when products are on sale. Have a cabinet or other storage area and when items are on sale stock up! Getting a year’s worth of staples, paper clips or other office supplies insures you have the items needed and at a good price.
Shop around for printer ink and other supplies. Don’t assume mail order is cheaper. Consider value as well – if a local place has the same supplies for a few pennies more supporting them may be good business. After all, if the shoe was on the other foot do you want their support or is it ok to send it out of the area?
Know when a better value is designating. Consider bartering as a means to get work done. Among the popular requests in barter groups is roofing and dental work but there are many ways that can bring in equitable trade. This usually must be accounted like cash, it just removes a step in the cash transaction.
There are many ways to save money in your small business budget. Shop smart. Invest wisely and seek the best value.