Small businesses often struggle with keeping their finances clean and healthy; especially if they are going through the initial growing pains of starting up a company. Although, in many situations, you shouldn’t scrimp on certain things (such as technology), there are plenty of avenues where you can save money. More often than not, it makes more sense to save yourself a pretty penny, if you can. Let’s look at some tactics that you should consider, when trying to cut down expenditure.
Offer Your Expertise
Want to get a lot of exposure in your area, and set yourself up as a thought leader? Offer your expertise for an evening, educating others, and giving presentations on a topic that’s your speciality. Not only does this do wonders for your brand, but it means that you are likely to find yourself with more connections and customers. What did it cost you? Perhaps an evening of your time. How much money did you have to spend? Absolutely nothing.
Whatever you can take of in-house, just outsource the service. For example, if your company needs WAN bandwidth management, call up a business who specialises in this and agree a price that you can reasonably afford – it’s as simple as that. It will save you hiring someone and paying them an annual salary.
Research The Freebies
Software is all over the internet, and there are plenty of free tools out there that can help your business. Sometimes, some of the best programs, apps, and websites only cost you the price of an internet connection. Keep an eye out for any great freebies out there and do your research first.
For things like storage cupboards and extra desks, you really don’t need to buy everything brand new. In fact, your office will usually have more personality if you buy interesting, second hand furniture or equipment. A lick of paint or gloss can do wonders for how professional it looks too.
It’s better to fork out for insurance, than wait for something to go drastically wrong. Don’t learn this the hard way.
Work Experience Schemes
It’s likely that there are secondary schools and colleges nearby that make the students to mandatory work experience. Sign up your business for one of these schemes. It will mean an extra pair of hands for a week or two, for simple tasks.
Be A Jack-Of-All-Trades
Why hire someone to do a job that you could learn how to do yourself? Keep hoarding new skills and passing them on to your employees, to reduce the amount of money that needs to go on professional help. With the internet at your fingertips, you can learn a lot of basic or intermediate tasks that you’d usually hire someone else to complete. You’re capable of more than you think! Of course, if it’s highly technical, or could lead to catastrophic consequences, save yourself the trouble and just hand over the cash!