Simple Ways to Reduce Costs as a Small Business
As a small business, it isn’t always just about ways you can make money, but also ways to save money. Reduce your costs as a small business by going beyond changing your lightbulbs and using less water. As a small business, there are several hidden expenses that you can eliminate while adding to the efficiency of your business.
Here are what we’re talking about: 4 Simple Ways to Reduce Costs as a Small Business.
Using online marketing as an alternative is just the tip of the iceberg when it comes to cutting costs with technology.
Online Marketing is Cheaper & More Efficient
Traditional marketing methods have quickly been replaced with online marketing, and it’s definitely for the best. Not only are you saving costs, but online marketing has been proven to be significantly more effective.
We recently wrote a piece on 3 Ways to Get Started with a Digital Marketing Strategy if you need help getting started. But essentially, you’re looking at transitioning to social media marketing, e-mail marketing and making use of referrals. While we wrote an article on The Impact of Referrals on Wine Sales & How to Utilize it, it can be used for most small businesses.
The costs of printing, publishing and distributing pamphlets and brochures are all a thing of the past when you look at innovative, online marketing techniques.
Technology Saves You Money in Several Ways
Using online marketing as an alternative is just the tip of the iceberg if you want to reduce your costs as a small business.
Technology has opened up a plethora of alternatives that are not only more efficient but are significantly more cost-effective. One of the biggest expenses to a business is office space. With programs like Monday.com, Asana, Slack, Zoom and Google Teams, you can have your teamwork remotely and still be efficient! Not only will this save you money in office space, but it can save you travel costs too.
While you would need to pay for many programs and software, some of which offer benefits that justify the costs. Many of these programs carry so many benefits that save you money in the long run.
Troly has strived to be one of those companies that consistently bring value to a business and helps it grow, succeed and reach exponential sales. The software that we offer small businesses is designed to take every aspect of a company to new heights. These include powerful stock control capabilities, innovative sales management and integration with all your current software.
Our programs will transform your business. Don’t believe us? Try our Free 30-Day Trial and see for yourself.
Paperless Will Significantly Reduce Costs
Another cost, which may seem minor, is the ability to go paperless. The costs of printing documents, receipts, invoices, payslips and reports can add up quickly. These costs can be eliminated with technology, so find ways to share all these documents digitally and reduce your costs, clutter and environmental footprints!
Some ideas worth looking at include:
- Sending invoices and receipts via e-mail or SMS.
- Work remotely on documents with your team via Google Drive.
- Create and distribute digital brouchers and pamphelts.
The software that we offer small businesses is designed to take every aspect of a company to new heights. These include powerful stock control capabilities, innovative sales management and integration with all your current software.
Freelancers Can Help Reduce Costs For a Small Business
While the thought of having a team of full-time employees seems like the best idea, it isn’t necessarily viable or necessary anymore. You can have a social media manager, graphic designer or sales assistant without really having to employ them full-time.
We know how challenging it is to run a business and things like social media and marketing. However, if you employ a freelancer, you can cut the costs of full-time employees while completing those essential tasks.
There are several websites that you can hire freelancers that do admin work, marketing, accounting, video-creation, design and social media.
Switching Suppliers Can Cut Your Costs
Another factor that many businesses overlook is their current costs vs their potential costs. In other words, you might be paying more for certain products than you necessarily have to. If you are currently using a specific supplier for your labels, packaging or software, take some time to compare quotes. Trust us when we say it will reduce the costs for your small business. There have been countless cases where companies pay significantly more for a product that they can get for less from competing suppliers.
While this might seem time-consuming, you can save in the long run if you aren’t paying twice what your competitors are.