When you live on a business budget, it's important to know HOW
to cut business costs. When you are a woman, then you know you
are good at the finding the best, the cheapest, the fastest, and
the biggest on a budget. Most women I know can squeeze a whole
dollar out of a nickel!
Did you know that Howard Hughes cut business costs by
eliminating just ONE drop of the 9 drops of solder on the can
lids he was sealing and it saved his company over 250,000.00 a
year?
Here are some handy tips to share that will help you reduce
those business costs and maybe increase your bottom line a
little.
1. Discounted or Free Stuff- You can find free software,
graphics, backgrounds, online business services etc., BUT always
use your virus tools and spyware before downloading anything
from the Internet. You should try visiting the plethora of
freebie sites on the internet before paying full price for your
business supplies.
2. Auctions- You can find lower prices on business supplies and
equipment at online and offline auctions. If you've never been
to an offline auction, you are missing out on some great deals.
You get to see what's going on in 'real time' and you know
immediately if you won the bid. Check your local paper for
auctions. Don't forget the storage places as well. They often
have auctions selling off contents of those people who have
abandoned their spaces or haven't paid for their spaces. You can
find some great stuff that could be handy for your business as
well as personal.
3. Watching for Sales- If you don't have time to check out sales
for yourself then delegate a family member to do it for you.
Make a list of items that you would like to see a sale on and
then have them notify you when they find one.
4. Bartering- Did you know there are several international
bartering communities available to businesses? Bartering is a
big business by itself. Barter If you have a business you should
be bartering goods and services with other businesses. Try to
trade for something before you buy it. Bartering usually
requires little or no money. Remember if you are in the US that
bartering can count the same as income so keep accurate records
of your barters.
5. Borrowing or Renting- Have you ever purchased business
equipment you only needed for a small period of time? If you did
make that purchase, recoup some of your money by auctioning the
item or trading it for something of value that you need for your
business. There are all kinds of different rental stores
carrying everything from machinery to dishes and flowers.
6. Networking- Try networking your business with other related
businesses. You could trade newsletter ads, banner ads, text
ads, signature file ads and more. This will cut down on your
marketing and advertising costs. You may also try bartering
goods and services with businesses related to your own, such as
a wine business and cheese business.
7. Wholesale or Bulk- You'll save money buying your business
supplies in bulk quantities. You could get a membership at a
wholesale warehouse or buy them through a mail order wholesaler.
If you don't have enough money to buy the minimum, then partner
with someone who sells what you sell. You can cut the cost in
half or even thirds if there are three of you needing the same
supplies. Don't be afraid to partner with someone to get some
good wholesale prices.
8. Used Stuff- You would not believe the good used stuff you can
find at flea markets and garage sales along with estate sales.
You can also check the paper for businesses going out of
business and visit their store for some good used stuff. Find
several items and offer them a one-price package deal.
9. Negotiate or Haggle- If you plan on being a repeat customer
then tell the salesperson that. Don't be afraid to ask them for
a discount for a long term relationship. You might have to agree
to purchase a minimum amount yearly or monthly but if it's
something you need all the time then go for the discount.
About the author:
Rebecca Game has been an entrepreneur for over 30 years and is
the Founder of Digital Women®, an online community for women in
business providing business resources and tools including loans
for women, grants for women and business networking tools. You
can visit her site at
Digital Women: "Women with their modems
running..."
http://www.digital-women.com
