Many insignificant items can add up to major savings for you. Practice the following “6 Simple Money Saving Tips for Your Business” and watch your bottom line improve significantly:
Bartering works, plain and simple! It is also a great way to help your cash flow. Always check with your accountant or CPA for tax consequences.
2. Energy consumption
Remember to utilize auto setback thermostats and automatic light switches. Costs can be dramatic when managing a business. Saving is key!
3. Toll free calling
Calling toll free can add up to major telephone savings. Numerous vendors and suppliers have 800 directories. Utilize toll free calling whenever possible.
4. Use fax/E-mail/Social Media
Using fax, E-mail or social media will save the cost of postage, paper, envelope, mailing time and it gets your message across instantly. Send messages in the evenings or weekends for further reduced telephone rates and save even more.
5. Shop by mail order
It is convenient and economical to shop by mail order. Use a credit card for mail order purchases. Also, there are lots of bargains to choose from with mail order. Be a smart shopper and always compare prices. Many vendors will haggle their price just to gain your business.
6. Negotiate everything
Always negotiate products including services. You can frequently purchase at a discount by just asking. Request a discount if you pay cash up front or intend to pay within 5 to 10 days.
When it comes to managing a successful business, every dollar counts. I hope these money saving tips will increase your bottom line and help your business prosper!
Can you think of other money saving tips? Share your comments below. Thank you.
About the author: Sonia Colon is writer/publisher of My Fashion E-Mall Blog & The Biz Buzz of A Latina Mom Blog. She is also owner at Books About Me. Sign up for the newsletter and never miss a powerful business marketing article plus receive a FREE eBook on ‘How to Rock Your Business with A Blog.
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