Five Of The Easiest Ways For Your Business To Save Money

Businesses small and large are always looking for ways to cut costs without cutting the quality of their services and products. Here are five of the simplest ways you can save big time.

Free Advertising

Marketing takes up huge percentages of small business budgets. The best way to advertise without paying for it is to volunteer. You cannot afford to work for free, but you can dramatically increase your potential customer base by running an hour long clinic at a local church or community center, getting on the board of a non-profit, or organizing community events. Getting people to view an advertisement is a largely passive exercise, but shaking hands and thrusting yourself into the middle of the communities you do business in will make lasting impressions that people will remember.

Purchase Supplies Online

You need everything from lap tops to toilet paper to keep your office running. Buying your supplies at places like Shoplet.com saves you time and money. You can usually get everything you need from one site and pay less than you would at a retail location. Business owners spend hundreds of hours walking through office supply stores that would be better spent developing their revenue streams.

Tax Deductions

Stop leaving money on the table. Many business owners do not keep track of their expenses. This can result in overpaying your state and federal taxes by hundreds or thousands of dollars depending on the expenses. Read up on what you can claim as a deduction, and keep a file where you log and categorize expenses regularly.

Revisit Your Budget

Business needs and expenses change over time, and sometimes rather quickly. Even with the best budget plan, changes with the business may not work with that budget anymore. Be sure to revisit your budget often and make changes as needed. When you have a little extra money, for example, it might be worth it to do more advertising. 

Join an Association

Most trade groups offer benefits that far outweigh the low membership costs. Organizations like your local Chamber of Commerce offer members reduced rates for liability, workers compensation, and health insurance. This alone can be worth the cost of joining. Being a member also gives you access to potential customers.

The key to success is making money without working every single second of the day. The examples above will help you save you money, time and stress.