Post by Jokster on May 24, 2020 10:31:31 GMT -5
1. Track Prices and Buy In Bulk
Tech entrepreneur and contributor to SMEPals (@smepals), David Mercer loves to save money on office supplies and equipment — everything from pens and paper to computers, desks, chairs, electronics, software, etc. — by buying only when there are deep discounts on the items he needs. Use apps and tools like RankTracer.com to get up-to-the-minute updates on prices or try Slice App to track packages and take advantage of price drops.
2. DIY Your Content Marketing
“When you have a little more time than money, then consider making yourself the expert in your content marketing,” says Stephanie Parks, Founder of DermWarehouse.com. Start with a little influencer marketing. Find experts in your industry by looking through industry publications, interview them either via email, video or phone and then simply publish the interview. If you don’t think you’re a good writer, consider curating a few articles from your industry and commenting on them.
3. Use Powerstrips to Unplug Appliances
Did you know that up to 75 percent of electricity used is while the item is turned off? One easy way to fix this, according to business owner Steve Hatmaker, is to plug your appliances into powerstrips that are easily accessible and turn them off when you leave for the day.
4. Renegotiate with Suppliers
Like any junk drawer, your daily operations can collect a lot of fluff. Felipe Vasconcelos, owner of Elastic Band Co., recommends taking a deep dive into your operational expenses and seeing where you can find some money. Call each of your suppliers to renegotiate your rates. With one phone call, Vasconcelos’ company saved on average 25 percent in production supply costs.
5. Use Original Equipment Manufacturer’s Products
Shop around for the best quality OEM products that are comparable to the original. Vasconcelos saved about 90 percent in production costs doing this.
6. Cancel Recurring Services
You’ve probably got subscriptions to services you’re no longer using. John Kinskey, entrepreneur and founder of AccessDirect, recommends reviewing your credit card statements monthly to flush out those onesy-twosy, low-cost services that ultimately add up to a nice chunk of change. With a few clicks and emails, you can save close to 10 percent in overall costs.
7. Shop Around for Electricity
“If your small business is located in a state that has energy deregulation, one easy way that small businesses can save money is to shop for your electricity or natural gas supplier,” says Kelly Bedrich, co-founder of ElectricityPlans.com, a national electricity shopping site for homes and businesses.
8. Automate Your Taxes
When you’re a business owner, time is your most valuable asset. Barbara Karpf, president at NYC-based small business DecoratorsBest, saved about five hours a week. She’s not only saved time, but money automating her business’ taxes, which she can now put back into supporting and growing her business — focusing on marketing, specifically for her data analytics staff and programs. In her exact words: “We would be totally bogged down if we didn’t have Avalara handling all of our sales tax in over 20 states.”
9. Turn Off Your Computers
Did you know that leaving your computer on overnight can add $200+ a year in unnecessary energy consumption. Depending on how many computers you have in your office, this could be a huge savings opportunity for any small business. Evan Harris, co-founder and CEO of SD Equity Partners, encourages everyone in his company to turn off their computers. “While this sounds simple enough,in the real world it rarely gets done. This minor oversight may seem innocent, but in reality it could have profound effects on your energy usage, and thus, your energy bill.”
10. Get Free Forms
Zondra Wilson, CEO of BluSkin Care, would much rather keep the money she saves to invest in keeping others looking as good as they feel. “Cutting costs doesn’t have to be painful. It’s a matter of identifying where you want to invest and where you want to save,” says WIlson.
Instead of buying forms at your local office supply store or spending time creating them yourself, you can find tons of free forms online that you can download, customize, and print.
Tech entrepreneur and contributor to SMEPals (@smepals), David Mercer loves to save money on office supplies and equipment — everything from pens and paper to computers, desks, chairs, electronics, software, etc. — by buying only when there are deep discounts on the items he needs. Use apps and tools like RankTracer.com to get up-to-the-minute updates on prices or try Slice App to track packages and take advantage of price drops.
2. DIY Your Content Marketing
“When you have a little more time than money, then consider making yourself the expert in your content marketing,” says Stephanie Parks, Founder of DermWarehouse.com. Start with a little influencer marketing. Find experts in your industry by looking through industry publications, interview them either via email, video or phone and then simply publish the interview. If you don’t think you’re a good writer, consider curating a few articles from your industry and commenting on them.
3. Use Powerstrips to Unplug Appliances
Did you know that up to 75 percent of electricity used is while the item is turned off? One easy way to fix this, according to business owner Steve Hatmaker, is to plug your appliances into powerstrips that are easily accessible and turn them off when you leave for the day.
4. Renegotiate with Suppliers
Like any junk drawer, your daily operations can collect a lot of fluff. Felipe Vasconcelos, owner of Elastic Band Co., recommends taking a deep dive into your operational expenses and seeing where you can find some money. Call each of your suppliers to renegotiate your rates. With one phone call, Vasconcelos’ company saved on average 25 percent in production supply costs.
5. Use Original Equipment Manufacturer’s Products
Shop around for the best quality OEM products that are comparable to the original. Vasconcelos saved about 90 percent in production costs doing this.
6. Cancel Recurring Services
You’ve probably got subscriptions to services you’re no longer using. John Kinskey, entrepreneur and founder of AccessDirect, recommends reviewing your credit card statements monthly to flush out those onesy-twosy, low-cost services that ultimately add up to a nice chunk of change. With a few clicks and emails, you can save close to 10 percent in overall costs.
7. Shop Around for Electricity
“If your small business is located in a state that has energy deregulation, one easy way that small businesses can save money is to shop for your electricity or natural gas supplier,” says Kelly Bedrich, co-founder of ElectricityPlans.com, a national electricity shopping site for homes and businesses.
8. Automate Your Taxes
When you’re a business owner, time is your most valuable asset. Barbara Karpf, president at NYC-based small business DecoratorsBest, saved about five hours a week. She’s not only saved time, but money automating her business’ taxes, which she can now put back into supporting and growing her business — focusing on marketing, specifically for her data analytics staff and programs. In her exact words: “We would be totally bogged down if we didn’t have Avalara handling all of our sales tax in over 20 states.”
9. Turn Off Your Computers
Did you know that leaving your computer on overnight can add $200+ a year in unnecessary energy consumption. Depending on how many computers you have in your office, this could be a huge savings opportunity for any small business. Evan Harris, co-founder and CEO of SD Equity Partners, encourages everyone in his company to turn off their computers. “While this sounds simple enough,in the real world it rarely gets done. This minor oversight may seem innocent, but in reality it could have profound effects on your energy usage, and thus, your energy bill.”
10. Get Free Forms
Zondra Wilson, CEO of BluSkin Care, would much rather keep the money she saves to invest in keeping others looking as good as they feel. “Cutting costs doesn’t have to be painful. It’s a matter of identifying where you want to invest and where you want to save,” says WIlson.
Instead of buying forms at your local office supply store or spending time creating them yourself, you can find tons of free forms online that you can download, customize, and print.