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Top Tips for Streamlining Your Business’s Spending

Posted by : Premraj | Posted on : Thursday, June 25, 2015

Money tips for the Small Business

Saving money should always be at the top of your agenda, not just in the home environment, but also for your business. No matter the size of your enterprise, everyone can benefit from taking sensible steps to get the most out of their expenditure without cutting corners. The potential checklist is almost endless, but here are a few suggestions to kick start your new frugal habit.

Marketing & Advertising

Attracting attention for your brand needn’t break the bank anymore. In the online realm, pay-per-click advertising is common, whereby you set a monthly budget and are charged according to click rate. This method can be quite effective, but in 2013 the cost was $0.92 per click according to one study.

Even if you can afford such methods, you should also be utilizing less expensive approaches to becoming noticed such as content marketing. Creating genuinely engaging blog entries, infographics, videos and photos that are relevant and interesting to your target market can be a challenge, but bring enormous value in terms of driving organic traffic to your site. This in turn will boost sales, and at minimal expense other than a little imagination

Online Foundations

Servers in particular can eat up a significant portion of your IT budget. Therefore it’s vital to think carefully about what your company requires from its website and research different servers to determine which solution will deliver the performance you need, without having to overspend.

You may want to consider whether you really need a traditional dedicated server, or whether you’d benefit by turning to a cloud server provider such as 1&1 for a more flexible solution. If you can reliably predict the demand your website will be under, then a dedicated physical server will perfectly suffice. However, if you’re an online retailer whose traffic can fluctuate wildly for instance, you may be able to save a lot of money by taking advantage of cloud servers, which can be scaled flexibly according to demand.

The Devil’s in the Detail

Neglect the seemingly minor costs at your peril. Everything adds up, so while it is obviously prudent to focus on getting value for money from your office space, workforce and so on, there’s plenty of room for saving in day-to-day operational costs. Things like basic office supplies, from coffee to staples and everything in between, are like any commodity in that shopping around always pays dividends. Certainly, this will take a little time and effort, but it’s worth the initial time outlay to prevent your business needlessly paying above the odds. This is especially so, given that these sorts of supplies are purchased repeatedly.

Think Green

This advice is equally true for both office and home surroundings – be kind to the environment and it will return the favor, more specifically to your wallet in this case. Simple steps like using energy saving bulbs in all your light fittings, which use 25-80 percent less energy and switching off unused plug sockets can have a big impact. You’re probably already doing these sorts of things at home, so make sure you aren’t neglecting these measures at work, and also ensure that your workforce is on side.

Apart from these ideas, the most important thing is your imagination, so get creative!

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