Money Saving Tips for Small Business Owners
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Money-Saving Tips for Small Business Owners

Running your own business can be costly in both time and finances, so any opportunity to save money without having to sacrifice service is ideal. Check out these three inventive ways to capitalize on outsourcing solutions and cost reduction, all while improving your business and the services you provide.

 

  1. Advertise Alternatively

Traditional advertising has become a luxury that most small businesses are unable to afford. A 30 second commercial on prime time television can cost over $112,000 and triple that to land a spot during a popular TV show. Skip the cost of traditional advertising by taking advantage of internet marketing and advertising options.

 

People spend, on average, 1.72 hours per day on social media which means there are almost 2 hours a day where you can grab the attention of the population. Advertising on social media networks is a fraction of the price of traditional advertising and cheaper to produce.

 

Take it one step further and eliminate financial costs altogether by investing employee time into engaging with your company’s fans, creating trendy memes, and filming simple, yet entertaining YouTube videos. Tap into what the Internet offers for free to grow your advertising with little to no cost.

 

  1. Go “Green”

Turning your business environmentally friendly can help reduce waste and cost, but there is so much more than just cutting back on paper use.

  • Use a smart, programmable thermostat that allows for shutting off heat/cooling while no one is in the office.
  • Make a one-time curtain/blind purchase to keep heat out during summer and keep it in during the winter.
  • Turn off all non-essential electronics at night to reduce your electricity costs.
  • Encourage telecommuting when possible to minimize utility costs and save your employees money on commuting as well.
  • Assess your space and find ways to use it more efficiently i.e. barely used conference rooms can double as break rooms allowing you to cut down space.
  • Buy office furniture “gently used.” Yard sales often contain office furniture hardly used, large businesses and schools will purge their fairly new technology that can be purchased at cheaper prices, and vehicles you need for deliveries can be purchased used, or even solicit donations for tax write-offs if you run a 501(c)(3).

 

  1. Outsource!

The cost of employing full-time staff is already expensive, but when more work needs to be done, neither hiring additional staff, nor over-working current staff seems like an affordable option. But there is a third option.

 

Outsourcing mundane tasks such as telemarketing, lead generating, phone surveys, event registration, appointment setting, etc. can relieve your employees and your pocketbook. Outsourcing with a telemarketing agency allows you to negotiate rates well below the cost of hiring additional full-time employees and when you outsource telemarketing, you’re leaving these duties in the hands of professionals dedicated to growing your business.

 

Taking small actions to eliminate the cost of traditional advertising, assess the efficiency of your office space, and outsource telemarketing duties can help alleviate financial and mental stress for you and your employees. Find the answer to quality outsourced telemarketing by contacting ROI Solutions today.

Han Butler

As Chief Revenue Officer, Han specializes in developing clear, unique and compelling value propositions which disruptively differentiate products and brands in cluttered markets. Han has a passion for working with people on creating value and opportunity, both in companies and communities. Nothing is more rewarding than working with a group of fun and talented individuals to create something greater than we could accomplish individually.

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