Small Business Tips for Saving Money
One of the biggest challenges for small and new businesses is finding a way to get the necessary services and products while not going broke in the process. Having started a successful business myself, I'd like to share some of the things I did when starting out to save money.
1. Work from home, or use coworking space.
Office expenses can get quite high. While it may be tempting to get a fancy office, the fact is that many businesses will function just fine with a home office. If you need to use meeting rooms and the like, consider renting out some coworking space as opposed to getting an individual office. This will save you some money while still making many of the amenities of an office environment available to you.
2. Use online contractors to get things done at low cost.
Everything from web design to logo design can be done by someone you hire online. Yes, you do need to exercise caution when hiring someone you don't know, but many sites like Fiverr and Odesk make the process pretty straightforward. Also, many such sites have ratings of people on the site, and I've found that in general, you won't go wrong if you hire someone with a lot of positive ratings.
3. Buy used items.
You'll get better deals on things like desks, chairs, bookshelves, etc., if you buy them used. Some companies sell their old furniture and I've found some great items at rock-bottom prices by purchasing used furniture.
4. Rely on online services as much as possible.
As you may already know, online vendors on the whole offer more competitive prices. Buy all your office supplies online if possible, from stores like Quill.com, and make sure you use online coupons to get the best deal out there. For customized products like branded bags, boxes, or packaging materials, online vendors like Bags and Bows can often be a great option. I use Bags and Bows coupons from Business-Reviews.com all the time when I need to buy packaging materials for my business.
5. Market yourself online.
One of the most efficient and cheap ways to market your business is to do it online. At a minimum, you should have a website that you can refer potential customers to. Building a website used to cost a lot of money, but today, there are numerous ways to create a website for free using tools like Wordpress. If you are computer savvy, you should have no trouble putting up your own basic site.