Starting, running, and growing a small business is tough. You’ll have to do battle with your competitors and come out on top. You’ll have to inspire and motivate a workforce. You’ll also have to make the key decisions and come under fire when things go wrong. The single biggest challenge to your small business will be money. You’ll either not be making as much as you want or you’ll be spending too much. Here are some suggestions for curbing your spending and saving cash…
Tackle Your Technology
In today’s world, you have to have updated technology to survive. It’s no use relying on a fax machine and printer, these are seen as dated pieces of kit. Don’t get overtaken by your competitors because they understand tech better than you. Small businesses are often encouraged to invest in extra hard drives. This makes sense when you’re storing large amounts of data and have multiple laptops and desktops.
The problem is, compared to other options out there, like hybrid cloud storage, storage hardware is pretty expensive and inefficient. HubStor is an alternative to traditional methods of storage. It works for a small business because it means you can take the hassle out of storing data. No more copying data to different hard drives and configuring apps. Basically, make sure you shop around and do your tech homework. There are cheaper options out there for those in the know.
You can often make small savings easily, which is why they’re so overlooked. We often neglect to try and save money on stationery and office supplied, because it’s only a small amount. Start small and work from the ground up with your saving. Negotiate better rates with your suppliers. Haggle a bit and make savings wherever you can, no saving is too small.
Try going green in your office and saving money and the environment! Re purpose old furniture or buy second hand rather than getting brand new chairs and tables. Of course, your employees need to be comfortable and happy at work so get old pieces reupholstered and painted. Functionality doesn’t have to come at such a high price. Another small saving for you and the planet is to print double-sided and turn off all office equipment when it’s not in use.
Social Media Savvy
Social media isn’t just for recreational use, it could secure you some new clients/ customers and bring in some extra money. A leaflet or word of mouth doesn’t compare in any way to the number of people you can reach on social media. Once you post something thousands of people will be able to read, share, like, and promote your business. Keep it professional but also appeal to the channel you’re on. Hi-res photos are best for Instagram and keep captions short and sweet. By increasing your social media traffic you’re getting your small business noticed.