11 Tips to Help You Save Some Bucks
Have you noticed earning money takes a lot of time, yet spending it goes much faster?
When starting out, the money set aside to secure the things you’ll need in the beginning may not go as far as you hope.
You’ll plan, you’ll monitor, but there are so many uncertainties along the way that will derail your spending plans.
Keep a watchful eye on every penny you make and spend, right from the start.
In fact, train yourself to question every purchase and invest wisely throughout the entire life of your business.
Freebies and resources to help stock your business are out there and readily available to help you and your business, which is why I’ve taken the liberty to write a few down for you.
Saving a dollar here and a bit of research there will help keep your checkbook balance at a more attractive number.
Frugal Business Tip No. 1 — Eliminate Paper
For years, I’ve heard individuals refer to their filing system … inability to maintain … cost of file folders … need for cabinets.
Why do you need a traditional filing system?
Do you know that an estimated 80 to 90% of paper filed never again sees the light of day?
I know this from my own file system.
Why go the distance to preserve paperwork when you factor these estimated statistics?
Here are several ways a filing system can be downsized to save resources applied for setup and maintenance:
Print documents front and back to cut back on paper and filing space.
Paper can be expensive over time, and as business professionals focus their energies on resource conversation, resume writers can do their part too by using less paper.
Avoid using manila or hanging file folders.
I like to print client materials, such as old resume and cover letter, which also gives me a place to jot notes when I speak with the client.
To avoid using files to maintain these docs, I staple an information card, containing quick information for the client: preferred nickname, email address, services requested.
I also note whether I issued an invoice, and processed payment.
I utilize a piece of colored paper, so each stack of client material is easily noticeable.
Exam and criticize what you’re filing.
Don’t print everything (I struggle with this!) especially when it may be unnecessary.
It may not always be necessary to print every old document the client provides; i.e. reference letters, old cover letters, and other miscellaneous notes.
Why have files?
Every piece of paper can be an obstacle.
Every time you place a hand on a piece of paper, your yearly revenues are affected.
Frugal Business Tip No. 2 — Bartering
While operating your business, the services you need to grow and prosper can be painfully out of your price range.
Website design services come to mind.
Don’t fret.
The Internet has paved the way to others in the same boat.
Bartering has become a valuable asset to small businesses trying to grow, cultivate clients, and well, get things done — all without a cash exchange between you and the provider.
What do you need and what can you provide in return?
Determine the exact type of assistance you require before contacting a bartering site.
In addition to determining your needs, decide what you’re willing to provide in exchange for this need.
Ensure you offer is wanted and needed by the other party.
Also, the offering should be comparable to the value, pertaining to cost, time spent, and/or resources committed, to what you’re receiving.
Find a bartering relationship at bxinsider.com.
Frugal Business Tip No. 3 — Inexpensive Business Cards
Business stationery can be costly, especially if you’re uncertain of layout or wording to incorporate during those initial months of start-up.
It’s common for individuals to create a business card one way, only to completely revamp it a few weeks or months later.
Business is a continuous evolution of ideas and strategies.
Don’t be afraid to change your mind … and yes, your stationery.
A great site that offers business cards is http://www.vistaprint.com. The service provides beautiful and colorful business cards.
Frugal Business Tip No. 4 — Affordable Office Furniture
If you opt for an office, stocking it with furniture won’t be as costly as you think.
New furniture can be expensive, therefore, seek out bargains at local flea markets, garage sales, second-hand stores, or utilize pieces located in your house.
Secondhand furniture will give your office the appearance of being in use rather than revealing a newbie with shiny and unscratched furniture.
Frugal Business Tip No. 5 — Discount Office Supplies
Shop local and online office-supply catalogs.
One of my favorite suppliers is Viking Office Supplies (http://www.viking.com), yet another way to stock up on office supplies is by purchasing stationery, binders, staplers, paperclips, and so on, during August and September when area stores are promoting back-to-school supplies.
Many of the items are usable during the everyday operation of a business.
Frugal Business Tip No. 6 — Discount Books
Personal development is a necessity to staying ahead on technological advancements while also ensuring you and your business continues to grow.
Therefore, reading material pertinent to the career industry can provide the continued growth necessary to advise your clients on up-to-the-minute job-search techniques, and reflect the value of your business.
There are many resources offered at your local library, from magazines and newspapers to books and videotapes.
Another great site for purchasing used books is http://www.half.com (now Ebay.com).
The site offers books at a fraction of new book prices while providing a large selection of topics.
Frugal Business Tip No. 7 — Free Magazines
Below are relevant and free business magazines, each covering a slew of topics, including website development, customer relationship management, and so on.
Click on the magazine cover to request your subscription.
Frugal Business Tip No. 8 — Free Music
Do you like listening to music while you work?
Me too! After months of paying a monthly fee for an online music provider, I was introduced to Pandora.com, one of the Internet’s best (and free!) music resources in my opinion.
It takes two minutes to register, and Pandora’s music box opens.
Beyond the no-cost benefit, I love that the site plays music based on my preferences.
For example, I built my own music station based around my favorite rock bands such as Nickelback, Seether, Creed, and 3 Doors Down, yet I also include country singers Aaron Tippen and Rascal Flatts in the mix.
To round things out, I also have my all-time favorite artists: Patsy Cline, Enya, and Natasha Bedingfield.
The playlist expands based on songs I rate with a thumbs up and thumbs down. I love it!
Need a boost building your station?
Here is a sampling of a few in my radio station:
- Audioslave
- Big Country
- Blue Oyster Cult
- Breaking Benjamin
- Buckcherry
- Depeche Mode
- Duran Duran
- George Michael
- Hinder
- Hootie & The Blowfish
- Lifehouse
- Michelle Branch
- OneRepublic
- Puddle of Mudd
- Tears for Fears
- The Police
- Three Days Grace
- Toad the Wet Sprocket
Frugal Business Tip No. 9 — Employment Statistics
It’s a great idea to keep your finger on the pulse of current employment statistics so you can identify opportunities and adjust your business and marketing strategies accordingly.
The Commissioner’s Statement of the Employment Situation, available directly by email from the Bureau of Labor Statistics (BLS), is a great source for learning such information.
The BLS also offers other select notifications that can help you mold your business into a profitable entity.
Mass Layoffs, County Employment and Wages, and Regional and State Employment and Unemployment reports can keep you informed on happenings in and out of your geographic area.
If you discover that the unemployment rate in your area has risen dramatically, for example, you may wish to contact a local job center to offer free resume-writing classes or provide pro bono work.
To subscribe, visit http://www.bls.gov/bls/list.htm.
Frugal Business Tip No. 10 — Virus Protection
Viruses are reaching catastrophic proportions … few consumers will argue that fact.
Small to large businesses alike are struggling to stay operational while being attacked by unknown assailants.
Businesses are seeing increased numbers of incoming emails containing viruses, sometimes debilitating operations and straining even the most prepared web servers.
Viruses can disable your business within a matter of minutes.
One wrong move while opening your email, or downloading something from the Internet, and your company may have to temporarily close its doors while you rectify the problem.
What business can run without a computer these days?
The added expense for virus protection is a necessary such as virus/spam blockers and tools to report unsolicited email, so if you can’t afford it, in the beginning, be sure to place it on your “must invest in …” list for the near future.
Well-known brands, such as Norton and McAfee, offer top-of-the-line protection and appear to seamlessly keep up with latest virus threats.
For a free alternative, AVG Antivirus/Antispyware Software has received continued positive feedback for software quality and the thoroughness of testing and updating.
Other great elements include a top threat alert column, virus encyclopedia, and virus removal tools.
Download the freeware by visiting http://free.avg.com.
As always, read and understand the terms and conditions thoroughly before utilizing any software.
Frugal Business Tip No. 11 — Fax Services
Do you remember when businesses had a separate phone line for a fax machine?
Mention now that you pay for a dedicated line for faxing and you’ll get “what the heck” looks from people. 😉
As technology progresses, the options available to business owners continue to rise.
A particularly terrific advancement: ability to send and receive faxes without the need for a fax machine.
Online services to receive and send faxes are perfect opportunities to avoid the cost of a fax machine along with a fee to the phone company.
Remember, you need to offer clients amenities, such as the ability to fax you, but don’t spend your hard-earned money — especially when there are cheaper alternatives that get the same results.
Paid fax services available:
Ureach.com: Offers 800 numbers, incoming and outgoing faxing, and single mailbox features.
The company sometimes waives the activation fee during promotional periods, and charges a small monthly fee ranging from $5.00 and up for a toll-free fax number.
The company also applies a per-page or per-minute fee.
Maxemail.com: A more cost-effective option, fax-to-email services start at $24 per year, averaging $2 per month for the MaxEmail Lite option.
Faxes arrive as a TIF-F (graphic) or PDF (portable data) file.
For a free service, check out faxzero.com.
The site offers free submission service for faxes containing up to three pages in size and places a maximum send of two submissions per day.
Since FaxZero doesn’t charge a fee, they recoup expenses by placing an ad within the cover sheet of each fax — maybe not a completely professional alternative for your business over the long haul, but for those initial months of start-up, the service should work in a pinch.
