One of the most common issues that small businesses experience is cash flow, or lack there of!
Saving money as a business - especially a new one - isn’t the easiest thing to do. You're too busy putting your profits back into your business, that a savings account stands empty.
Any way that you can make your business profitable while saving cash is a welcome option, so here are six tips ways you can save your business some money!
Move Out Of The Office
It's a no brainer than running your business from home will result in less overheads and monthly costs. You may well have a wonderful team that you get to see every day, but have you considered moving your operations to something a little more remote? You could choose to use services such as https://yourvirtualofficeco.uk and have a fully managed virtual office as a front for your business. The rest of your staff can work remotely from home, saving you money in rent, utilities and commute costs.
No matter who is supplying your services, ask for a discount. Suppliers want your business as much as you want their help, and if you plan to be locked into a contract with them for some time, you can ask for some money off what you’re ordering. I know this can be an uncomfortable conversation but a discount on services will make it well worth it!
Budget on furniture and office supplies
You now have a home office, which means that you'll need to purchase office equipment. Go second hand for your furniture, rather than buying brand new and designer furniture. You don't HAVE to go second hand, you can simply shop at places like KMART or IKEA, who offer great products at a lower price point. You should also consider buying your office supplies in bulk as this saves money in the long run!
Hunting for George has great furniture and accessories at reasonable price points.
Green Is The Colour
If you aim for efficiency in your office, you’re going to cut down significantly on what you pay out in utilities. As an online business, you can also minimise the amount of paper that you use. Efficiency = money saving! You can read more about running a greener business here.
Join The Cloud
Cloud computing is getting big, and you can buy cloud based software for pretty much every business function, bookkeeping, presentation and even word processing. You can even save on hardware by doing this, which can take a large proportion of your budget.
Engage The Community
Whether it be on social media or in the world, you can save so much money if you collaborate with others on events to get your name out there. Collabosaurus is a great marketing tool that connects brands for clever collaborations and partnerships.
Social media community work can help you to expand your customer base online, and engaging with the local audience is an important tool your marketing campaign.
If you want more advice on collaborating the right way, get in touch with She Does This and enquire about our social media services.