10 ways to cut on business costs
Start your business with minimal cost
Jul 01, 2011 10:00 am
Starting your business or even expanding it surely comes with higher bills. Below are ten ways you can cut costs for your burgeoning enterprise:
1. Ask people you know for referrals of people who need your products and services.
2. Split advertising and promotions costs with your neighboring businesses.
3. Set up an online store, and start chatting in online groups that cater to your audience.
4. Work from home, operate a mobile store, or lease an executive suite or virtual office.
5. Buy used or recycled office equipment, like furniture or printer cartridges, and get free software.
6. Buy the business or health insurance you need up front, and buy group insurance with your trade association, if you belong to one.
7. Think about leasing instead of buying, and hire temporary employees or college interns to handle a surge in business.
8. Clean up your mailing list and look for an overnight courier.
9. Mind your petty cash account, and avoid cash advances on your credit card.
10. Stretch your budget with barter (or exchange deals), and time your payments.