Saving Money While You Grow Your BusinessApril Labarron
If your small business is expanding, you may be suffering from some of the growing pains associated with new growth. There are many ways to cut your expenses so that you can enjoy greater profits. Follow these five helpful tips to save on your company's expenses while you expand and grow. Double Up on AdvertisingIf you mail regular invoices, simply slip in an advertisement about a new product or service. This will help you save on mailing costs. Don't mail fliers to your existing customers. Choose low cost email marketing or drop promotional coupons in your customer's bag when they make a purchase. Print up low cost t-shirts and other promotional items that will allow you to create your own walking advertisements. People love free t-shirts and will be glad to wear your brand and logo around town, saving you money while bringing in new business. Be an ExpertPerforming a workshop at the local library, giving a speech at the chamber of commerce or writing an article for the local paper establishes you as an authority on your business. You can also collaborate with similar businesses to maximize your exposure. If you are a photographer, team up with a travel agent to do a workshop on the best honeymoon destinations. This, in turn, will generate free publicity and drum up new business without costing you a penny. Buy UsedIf you need new equipment for your new showroom or office space, try used furniture stores for the best deals. You can also rent and lease large pieces of office equipment like copiers, printers and computers. If you will be transferring furniture from the old location to the new, there are low cost storage facilities in Texas that will save you on moving costs. Many of these storage facilities offer commercial rates that will allow you to save money on long term storage. Switch to Free SoftwareSoftware can be a huge expense for a growing business. There are many free downloads online that you can access to use free, or open source, software. You can access accounting, word processing, database and presentation software that is just as good as higher priced name brand software. Use Independent ContractorsWhen your business is growing, you may need extra help. Hire independent contractors to fill in the gaps. This mobile workforce will save you money in employee salaries, benefits and taxes. Growing your business can pay off in many ways. Find the best ways to save while you grow. |
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