Smart Ways for Your Small Startup to Save Big
Most small home based business owners can agree on one thing: money is not something easily spared. No matter how successful a garage or basement venture may be, there is rarely a dollar earned not already earmarked for expenses. Whether it’s salary, insurance, supplies, et cetera, it’s always going somewhere and it’s almost never the bank – not yet anyways.
However, that doesn’t mean there isn’t room somewhere for a small business to save big. By doing so the home based enterprise can free up some of its tight financial reins. This allows for a more calm and collected atmosphere, which leads to better decision making. This, of course, leads to greater success.
While we can’t quite claim to have the secret sauce for riding savings to massive home business growth, we do have a series of savings techniques for small startups to apply. By doing so they are certain to see net savings. Whether they use this saved money to reinvest in the company or otherwise is up to them:
Many home based companies are failing to take advantage of telecommunications package deals. By visiting the homepage of the local fiber optic service provider, small businesses can consolidate phone, Internet, and cable lines into one monthly payment, which will slash costs significantly. Why fiber optics, you ask? Because no alternative gets as much speed for as little a payment.
The working class protocol of choosing used whenever possible applies to the home based business as well. Whether it’s a sewing machine, carpenter’s tools, or a powerful computer, opting for used is a sure way to shave off anywhere from 10 to 75% of the MSRP. This can allow for the startup capital to stretch farther, and possibly be used for something otherwise eliminated from the small business budget, such as a trip to a trade show across state.
Similar to going to one provider for multiple communications services, it pays to stick to one company in other areas of the business. The rewards programs offered by airlines, rental services, hotel chains, and credit card companies can net enormous savings for frequent users. However, it’s important to double check with independent ratings and reviews to make sure the so-called deals being offered are what they seem.
Be energy efficient
Maybe you’ve taken steps to be green around the house. Don’t let your home business be any different. The Small Business Administration offers a wide variety of tips to help startups be energy efficient. While several suggestions – such as turning lights off when leaving the room – are insanely old hat – but others might be something you haven’t thought of yet. For example, are you making sure to purchase ENERGY STAR qualified business related appliances and electronics? Used, of course.
Few home based startups can claim to be rolling in dough. Chances are good they could use some to spare. Fortunately, if they opt for a few simple measures, they can stand to save big. The money kept in-house can then be used to grow the business to the point where cash is no longer a rarity.