According to a recent post on About.com’s Small Business Information page, reducing costs in small business doesn’t have to be a headache. The article points out 10 simple steps small businesses can use to make smart choices about where their funds go and ultimately improve the bottom line.
1. Use Technology
Use teleconference and online payment tools to reduce travel and paper costs
2. Ditch Your Landline
Cell phones, VoIP, or virtual phone lines can be a better less expensive option
3. Go Paperless
The cost of ink, mailing, and postage adds up
4. Start Marketing Your Business Online
Use low cost, fast-paced, high-result Internet marketing
5. Reduce Credit Card Debt
This will help with long term business management
6. Create and Stick to a Business Budget
Keep yourself on track by outlining costs beforehand
7. Explore Alternative Places for Business
If possible, exploring a coworking or home based business can be beneficial
8. Cut Back on Software
Some software goes unused, so don’t bother with anything you don’t need
9. Buy Refurbished Equipment
Refurbished equipment can be just as good as new, at a fraction of the price
10. Look Into Bartering
Exchanging your goods or services for others means no cash changes hands
Exploring these options can mean all the difference to a small business. Make smart decisions in the outset, and your business will benefit in the long run.
Check out the original article How to Reduce Small Business Costs.