As gas prices continue to skyrocket — approaching $5.00 per gallon nationwide in some areas — what business owner isn’t looking for ways to cut costs?
Recent data from the Bureau of Labor Statistics shows the consumer price index continues to creep up, meaning the costs of goods and services — including those essential to running your business — are eating into profits.
With tax season at hand, it’s a good time to put the microscope on your monthly expenses to see where you can cut costs.
When done rationally, and with thoughtful planning, cost cutting can not only save you money, it can be less painful than you might think.
Here, in no certain order, are 5 relatively pain-free money saving tips for your small business
1. Go Online
Cutting traditional advertising in favor of lower cost online alternatives is a popular and effective way some successful small business owners are saving money without sacrificing results. Take a close look at your current marketing initiatives and consider adding low cost in-bound marketing tactics such as blogs, SEO (Search Engine Optimization), and social media.
2. Go Green
“Going green” has transitioned from being a trendy, and sometimes more costly business strategy, to a necessary and smart approach to saving money. There are lots of ways to go green. Here are a few: reduce the amount of driving (and cost of gas) by setting up conference calls with clients and other stakeholders; keep equipment on a power strip and turn it off when not in use; replace your existing printer with one that prints on both sides of the paper; and, set electronics to go into sleep mode after a period of inactivity.
3. Go Up
Up to the cloud, that is. Switching to cloud-based services, such as a phone system, can help eliminate the costs — and headaches — associated with expensive hardware A cloud-based phone service is a great way to lower the cost of doing business, particularly if you make a lot of calls. And, with features such as Auto-Attendant, Business Call Forwarding and Voicemail-to-Text, making the switch will not only save you money, but also provide you with a big business image.
4. Go Out
A smart alternative to increasing productivity while keeping costs down is to outsource services to a freelancer. Highly qualified freelancers can be typically brought on board — for a particular project or for a certain amount of time — at a fraction of the price you would pay for a full time employee. Accountants, attorneys, bookkeepers, IT professionals, marketers, and copywriters are a few examples of outsourced services that can all be found for hire on freelancing sites like Guru.
5. Go In
It might not be possible for all small businesses but when it is, telecommuting — also known as working “virtually” — can be a huge money saver. A virtual office approach allows a small business to lower costs by cutting expenses such as office space rental and operating costs. And, with a cloud based service such as eVoice, you can maintain a professional image no matter where you are, even if you’re working from home in your pajamas!
For more helpful money-saving tips, go to the U.S. Small Business Administration website.
Do you have any additional money saving tips to share? Let us know by leaving a comment below, we’d love to hear from you!
Learn more about how call forwarding services and other j2.com cloud services can be of great value to your business at the j2.com website. In addition to virtual phone number services, j2 also provides many other valuable tools for small businesses, including online fax, email marketing, hosted email and online backup.