While on a mission to make money, it seems saving it has become a whole other obstacle. It feels like you’re going about your business aspects the right way and yet it you’re spending a lot more than you anticipated. Where is all that money going, and more importantly how can you get it back? Check out these simple tactics to help your business save more money!
1.) Clever Advertising!
Every business owner has an online presence these days, so why not make yours work for all it’s worth? Digital marketing cuts numerous costs from traditional tactics such as printing catalogs and brochures, minimizing the need for phone calls, and reducing the amount for in-person appearances. Embrace search engine optimization, social media marketing, and hone your creative side by forging enticing content and call-to-actions! Placing relative tags and keywords to your webpages through SEO increases your rank in the search engines, therefore allowing your target audience to find your business faster. Being active on multiple social media pages, whether it be sharing interesting blog posts, surveys, or testimonials, increases your business recognition. Creating intriguing content and irresistible call-to-actions is a sure-fire way to lure customers to your website. And the best part? Most of these tactics are free!
2.) Get Green With it!
Papers here, energy there, money flying everywhere! Have you considered transforming your cluttered, cash-draining work space into an organized, money-saving haven? Going green is simpler than it sounds. Start small by limiting paper usage by sending more emails and setting reminders on your smart phone rather than using sticky-notes. Exchange your traditional lighting with LED bulbs as they are more cost-efficient, save more energy, contain no harmful toxins, and are the most recyclable. Speaking of recycling, not only will you save more by doing so, you can even earn some extra cash by taking your bins to a local recycling yard. And that’s just the start! There are many more ways to save money by going green.
3.) New Doesn’t Always Mean Better!
An appealing office makes for happy clients! But that doesn’t mean you should instantly splurge on expensive, new products. In fact, it’s more risky to do so, especially if it’s a brand you’ve never used before because you don’t know the item’s quality or lifespan first hand. Newer products could also be assembled with cheap materials opposed to older products which could be more durable and long-lasting. Also, opting for a used furniture and other office essentials over recently released ones will save you more money upfront. Do your research before investing, and you’ll be able to save money in the long-run as well.
4.) Reconsider Travel Expenses!
When business calls you away from your daily work space, you’re probably like, “Yay! Road trip!” until of course you see just how pricey traveling gets. What a way to put a damper on things. But if you’re smart about your travel expenses, you’ll realize you’ve been throwing money out the window on your way to and from your destination, and will be more careful in how you go about your business travels from here on out. Consider all your car rental, lodging, and dining options in order to find the best deals and don’t miss out on corporate discounts. Keep in mind going through a traveling agency will offer you some exclusive savings, airport hotels are usually cheaper than the alternative, and traveling in the economy class can save you close to fifty percent more than the business class.
5.) Know Your Deductions!
Taxes… not a single soul enjoys this part of the business world. Luckily, if you’re aware of what aspects qualify for deductions and keep track of each one you engage in, you can find yourself walking out of the accountants office owing less than expected. Any business purchases including supplies, equipment, auto expenses, start-up or expansion costs, advertising, training, and even telephone and internet usage all qualify as tax deductions. So if you used it, keep a record of it, and don’t be afraid to claim it!
Losing money was never the goal, so don’t feed the habit. Engage in these money-saving tactics and you’ll have the time and cash to fulfill future business plans! For more tips and tricks to make your business great, visit our blog!