Breathe…tax time is almost over!
Saving money doesn’t require huge company change – get creative, be diligent, and start small. We can’t all be accountants, but we can all get into the mindset of an accountant.
1. Buy in Bulk and Use those Coupons
You’d be horrified (and a little amused) if you saw our late night company group texts announcing the latest target coupon deal – but you’d also be surprised at how easy it is to save. Scrappy startups need this kind of collective creativity and teamwork to help each-other, and the company, to be successful.
2. PR Instead of Advertising
It’s true, and advertising can be a HUGE money suck for a small business. PR offers a cost effective alternative. Take the time to reach out to credible publications, media outlets and blogs. When it comes to driving the right kind of traffic to your website, this method is gold. Reaching out to 100 people personally recommended by a publication is far more effective than 1000 people via an online ad.
3. Outsource, Outsource, Outsource
A huge portion of a company’s budget goes towards covering employee salaries. Don’t get us wrong, employees are absolutely essential, but some tasks can be handled by a reliable outsourced company. When you take on an employee, you are paying for down time, vacation time, sick days, and to house them. An outsourced service often costs more hourly, but they work as-needed and you benefit from the collective knowledge of a group, instead of an individual.
Tags: Accounting, Small Business