When the economy is harsh, and it usually is, business owners try to save more money than they spend. But, this can be easier said than done because the fact is if you own a business or company, you will have a lot of costs that need to be dealt with. These may be to do with marketing, tech, hiring employees or even transportation. Nevertheless, there is a way to save money in each of these categories and we know how to make that happen.
Marketing
Many firms and businesses still waste a lot of money to pay for ads on the television and radio and here is the punch line: Now that people can skip television ads and watch everything on a streaming service like Netflix, hardly anyone is watching advertisements. We are not saying you should rule them out completely but chances are if someone buys your product after they saw an ad on TV, they were going to buy it anyway.
A far better option is to use technology as your advertising tool and more often than not, you can do it for free. For instance, if you can set up a fantastic, beautiful company website that is visually engaging, it can work as an advertisement. All you have to do is make sure it is written using SEO to make sure it is seen. It is not just about websites either because you can use other tools like blogging and social networks to advertise your business.
Technology
The time has now passed when businesses needed big, expensive machinery to get their offices up and running. Instead, most things can now be done digitally and it will save you a fortune. For instance, there is no need for phones when you can call your employees and clients on Skype. Or how about faxing? We suspect companies waste a lot of money on paper and expensive fax machines. But, with services such as Efax online fax, physical fax machines are a thing of past and all information can be sent by email to clients or employees.
Employees
As a business owner, particularly if you are a small company, you should be thinking about hiring a small workforce. While some companies find success in hiring a bigger group of employees, statistically it is more likely that some of the workers do not know how to work efficiently. If you hire a smaller employee group, you can save money and carefully pick the best people to hire.
Transport
We have already mentioned how much money you could save by getting rid of some tech and replacing them with digital programs. Programmes like Skype are particularly useful because you can set up online conference calls. This means that you no longer have to send your employees across town or halfway around the world to converse with important clients.
If your employees do have to travel frequently, we suggest shopping around for the best value lease contracts on cars. If you do this, your employees will still be traveling but at the cheapest possible cost.
Photo by Andrey Burmakin
Mia Guerra
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