Simple Steps Small Business Owners Can Keep More Money In Their Pocket

Even if the profits are good, a small business can fail by spending too much money on overhead, events, equipment and supplies. Saving money in the small areas could keep your business afloat and able to grow.

Look for Used Equipment

Purchase used desks, office furniture, electronics and more from businesses closing down or second-hand stores. By picking up pre-owned office equipment you can get great items and save a lot of money in the process. Try looking for a going-out-of-business office sale to get items that are in good condition and coordinated styles.

Keep Track of Spending

Set a budget and then track your expenses to see where you are spending the most money. Each quarter you can evaluate your company spending for the past quarter and make plans accordingly. Your budget should include any business-related lunches, club memberships, overhead costs and employee spending.

Cut the Excess

Printing and mailing pamphlets, fliers, business letters and other mailers are a quick way to add up the costs. Switch to Inbound Marketing- go paperless and connect with your customers through social media, a well-designed,  website, email, blogs, and email newsletters.

  • 91% of consumers check their email every day (ExactTarget)
  • 76% of emails are opened within 48 hours (Alchemy Worx)
  • 48% of consumers use mobile devices to check email (Litmus)

Your biggest areas of spending should also be your biggest ROI. Advertising, branding and business location are all important ways to attract potential customers and increase sales.

Spread The Word!

About the Author

Though his chief ambition is to one day control the entire Internet, Jim busies himself in the meantime running our little web development and marketing agency. He's a certified super nerd who ranks coding in old, outdated languages and watching Star Trek reruns just a bit too high on his list of fun things to do. Outside of work, Jim enjoys Hockey (Tampa Bay Lighning, to be specific), more genres of music than most people realize exist, riding his Harley (he calls it "two wheel therapy") and exploring the world through travel.