5 Ways to Cut Small Business Expenses
Most small business owners experience ups and downs. Any reduction in expenses is always welcome and can result in increasing the profits. Here are a few relatively painless ways to cut costs and make your business more profitable.
1. Use Free Service Providers
Why pay for something when you don’t have to? There are a number of free things online. Web sites, e-mail addresses, fax numbers and teleconference services are all among the solutions small business owners can use for little or no charge at all. Just enter “free phone service” or “free fax service” in Google, you will be amazed at what comes up. Check out the Small Business Administration for even more tips and ideas on how to cut business expenses.
2. Do It Yourself
How much money do you pay your accountant monthly? $200 or more? With no more than $100, easy-to-use pay-roll software like ezPaycheck (from halfpricesoft.com), you can handle the payroll job effortlessly on your own. Most payroll software may be downloaded from the website and you can try it free for Thirty Days. Just pay for the software after you feel comfortable. And, do you employ a professional to generate e-letters or brochures? With software like Microsoft Office Publisher, you can choose from pre-built templates to rapidly and effortlessly produce professional-looking e-letters or print brochures promoting a sale in house with a color printer.
Outsourcing does not always imply sending your business overseas. This is an idea to locate capable people not limited to your local location. From guru.com, elance.com or other online sites, you can find web masters, bookkeepers and other individuals that work for you on a subcontract basis.
4. Advertising Proficiently
If you mail a printed newsletter or discount coupons to consumers, might it be more cost-effective to send out an e-mail? You can save not only print and paper costs, but also shipping fees. Rather than buy ads from traditional newspapers, you can also digitally advertise on the internet. If you have an ad budget, you can use pay-per-click program from Google, Yahoo or other agencies. But do not forget there are a great deal of no-cost and practical means to promoting your company on the internet, for example, blogs, book marking, article-marketing, directory-marketing, media announcement, email-marketing and so on.
5. Cutback Transportation Expenses
Here are some questions to pose:
Do all your sales or support service calls have to be in person?
Can you assist your clients with internet-based technologies like online conferencing and devices?
Can your company allow full-time personnel to telecommute?
It will slash your rent overhead, travel and fuel expenses and several studies have revealed the home-based workforce tend to have increased output and stronger commitment.
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