If you own a small business and you do most of your work at home, it is likely that you are probably feeling the strain of your business costs. Here are a few easy ways to save money and allocate money where it should go – towards driving your income. Having a small business can be trying, so do what you can to make it easier for yourself.
Lesley Spencer Pyle, author of The Work-at-Home Workbook: Your Step-by-Step Guide on Selecting and Starting the Perfect Home Business for You, wrote a great article recently on Entrepreneur.com. Here are a few small tips to save money while working at home, as according to the article.
Reduce Marketing and Advertising Costs
Reducing doesn’t mean you should stop advertising. In fact, this is the time you need to get as much exposure as possible to keep customers coming in. Take advantage of free or low-cost advertising.
• Use social media marketing, such as Twitter, Facebook, and blogging channels like WordPress or LiveJournal
• Find local networking events that are easy for you to attend
• Submit press releases to free news wires like PRNewsWire
• Make phone calls to existing and potential customers, send emails with various promotional offers
• Buy in bulk and share expenses with other small business owners.
• Shop on e-Bay for great deals on both office and shipping supplies.
Pay Bills Online
Paying bills online will save on the cost of checks, postage, and envelopes – you name it. It will also help you manage your time better and stay organized. Organization is the key to being efficient. Allow yourself time to take care of other things, like making money – not paying money.
It’s recommended to meet with your accountant to ensure you’re taking advantage of all tax deductions.
• Are you utilizing all possible deductions for your workspace in your home?
• Are you deducting business miles?
• Are you tracking meals and entertainment expenses?
Reduce or Eliminate Travel Expenses
It’s important in business to have a human connection. Many times we feel the need to meet in person for lunch or a meeting. One way to keep that connection but not have the expense is to take advantage of conference calls. Using a webinar service is an excellent way to connect with a group of people without paying travel expenses.
By cutting costs where it doesn’t hurt you, specifically with your marketing strategy, you can maximize your effort into improving your small business. Don’t let little things like initial business expenses take you backwards.