When you are first starting out in the world of business, you quickly find out that costs can mount up and start spiraling out of control if you are not careful. You need to have a clear plan of action which details how you are going to save yourself some money on the essentials. Otherwise, you could find that you are having to shut up shop when you were only just getting started. Here, we will give you a bit of inspiration of the ways in which you can make small business essentials more affordable.
Cut Your Office Overheads
The cost of office equipment can rise quite steeply, but you don’t have to buy everything brand new when you are first getting started. You can save as much ad 60 percent of the original cost by buying used computer equipment and furniture. You could also look into buying recycled printer cartridges instead of ones which are brand new. In terms of software, there is plenty which you can download for free which can help you out in doing the basic jobs.
Automate Where Possible
Paying staff members is one of the biggest expenses in any business, but the digital world has played a big role in helping you to manage your everyday practices without spending a fortune. So, instead of hiring a receptionist to work for your company, you could instead look into virtual assistant services. You may find that automation is just a temporary solution or something which proves to be more long-term for your company, but there is no doubt that it can be very beneficial when you are first starting out.
Learn to Negotiate
Being a business person means never agreeing the first price that you are set. You need to learn to negotiate so that you can get a deal which is beneficial to you. So, when you are looking into suppliers, you should always get multiple quotes. You may find that you are able to leverage a better deal from your supplier of choice simply from stating that someone else is willing to give you a lower price.
Use Free Advertising Channels
When you don’t have a hug advertising budget, it makes sense that you use what is available for free or cheap. And this essentially means that you take advantage of online channels such as social media and search engine optimization. Obviously, you will be competing against thousands of other websites which are all trying to do the same thing, and you need to ensure that you have a clear and comprehensive strategy which allows you to stay ahead of the curve.
Keeping a close eye on your finances is one of the most important things that you can do as a small business owner. There are bound to be certain essentials required to run your business, but this doesn’t mean that you should be paying a premium price on them.
Emily Sprinkle, also known as Emma Loggins, is a designer, marketer, blogger, and speaker. She is the Editor-In-Chief for Women's Business Daily where she pulls from her experience as the CEO and Director of Strategy for Excite Creative Studios, where she specializes in web development, UI/UX design, social media marketing, and overall strategy for her clients.
Emily has also written for CNN, Autotrader, The Guardian, and is also the Editor-In-Chief for the geek lifestyle site FanBolt.com
