When start-ups and small businesses make financial decisions, they often have to consider them carefully and make every dollar count. When businesses can find ways to save money, they can leave their savings in an interest- bearing account, purchase additional merchandise to sell, or pay for valuable advertising if needed.
1. Be Your Own Advertisement
In everything you do, you should be a walking advertisement for your business whether it’s by presentation, what you’re wearing, or what you say. Business owners can wrap cars or very inexpensively add a logo on the side (which can sometimes result in a tax write-off), wear t-shirts, pass out business cards, and more. Be sure to include your website on everything. Doing a lot of your own advertising can save thousands.
Doing good business in general will speak volumes to your customers and will naturally create word of mouth advertising. This is the best kind of advertising you can come across.
2. Hire Low-Cost Assistance
It’s very difficult to find an expert in the field with years of experience behind them at an affordable salary. When you are starting a new business, it is likely that high salary employees will be out of your range, but there is a way to get wonderful help for little to no money at all.
Students or interns are excited to work for little pay in exchange for experience and college credits. It is actually highly valuable to them. Students are also being taught the latest trends and methods in certain areas of the market and can impact your business in a positive way.
3. Save On Bills
There are many ways to save on basic bills and utilities.
Consider using laptops
- They use less energy and electricity than a standard desktop does.
- If you are the sole operator in your small business, consider utilizing your cell phone and connecting it with Google Voice to have a unique business phone number that will connect to a phone that you are already paying for.
- You can save on travel reimbursements to employees by utilizing online meeting tools and conference calls.
- Virtual offices are a great way to have a receptionist that will forward calls on to you, conference meeting space, a mailbox, and even a temporary office to work in on days that you need a more professional environment, all for a very low cost compared to leasing office space and hiring a receptionist.
4. ACH Payments and Affordable Processing Services
Any business takes payment in some form or fashion and ACH payments are a great way to do that. There are also affordable credit card processing services that will save you money over the competition.
ACH processing is when payments are debited from a customer’s account using a routing and account number. They can be used in any type of transaction, but are especially useful for recurring payments or payment plans. The processing times are typically less than credit card processing times and fees are significantly less, so small businesses can get their money quicker while paying less out of pocket.
An added benefit is that regulations are much stricter when it comes to reversing or blocking charges to the account as opposed to credit cards.Recently named the best check processing service, National Processing offers both ACH payments and credit card processing services for businesses. We also offer the lowest rates, so it is more than worth it to give us a call for a quote.