6 quick ways you can save money in your business this month
If there’s one thing small businesses are always going to keep an eye on, it’s their budget. However, it’s even more important in 2020, when COVID-19 has pretty much turned every business out there on its head. If you know you really need to find a few great ways to save money this month, and perhaps even next month, look no further. Read on for 6 quick ways you can save money in your business this month:
1. Don’t pay renewal rates
Whatever you do, never pay renewal rates for the services you pay for. Look for new suppliers – even new business premises if you have to. Your daily operations can seriously collect a lot of junk, so dive into your expenses and see where you can negotiate and save money. Call your suppliers and see if you can discuss new rates if it’s not quite time for your renewal yet. With just one call, you could end up saving 25% on your expenses. Building relationships with suppliers like www.nboljor.se who offer both a great product and great customer service is key if you’re going to do this correctly.
2. Find ways to improve productivity
Productivity is key if you’re going to save money and potentially make more of it. Squeezing every last drop of productivity out of your processes is important. You can do this by:
- Using tools and software that makes the work easier.
- Put off hiring new people when somebody leaves and instead redistribute the workload.
- Don’t micromanage.
- Allow employees to manage their own schedules – sometimes, allowing flexible hours can even help.
Photo by Karolina Grabowska from Pexels
3. DIY your content marketing strategy
When you’ve got more time than money, see if you can become an expert in something. Content marketing is a good place to start. Contact influencers in your industry via DMs or their email, or even their agents if they have one. You could then write up an interview with them, or create content alongside them in other ways. Of course you don’t always need influencers to master your content marketing strategy, but they can help it to become more successful.
4. Use free software
You can try out lots of free software products that could help you to be more productive or manage things more effectively.
5. Buy second hand equipment
There’s absolutely nothing wrong with buying second hand equipment. In fact, it’s better for both your budget and the environment. Check out social media, charities, and auctions to see what you can find.
6. Implement a new energy saving strategy
A new energy saving strategy doesn’t need to mean installing solar panels onto your business premises. It can simply mean installing new lights and more energy efficient computers and phones. Getting everybody on the same page when it comes to energy saving is crucial, so ensure this is the case.
Saving money in business is always going to be a consistent effort. Making sure you have a solid budgeting plan to accompany this advice will be the best course of action!