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Running a business is often a rollercoaster of highs and lows. When you put so much hard work into something, you’ll want your efforts to pay off as much as possible. Perhaps you’re happy with your turnover and growth achieved so far, but wouldn’t mind saving a little money too? If you can relate, these money-saving hacks could just be all the ideas that you were looking for!
If you are in a position to have some remote workers, then you could be saving yourself lots of money. The less inhouse employees that you have, the less utilities, hardware, and furniture that you will need to pay out for. Tools like Zoom can provide you with video conferencing solutions so that you can still involve your remote employees in meetings. As well as this, platforms like Slack can allow messaging chat and collaborative operations for all types of employees.
Some businesses opt for being entirely remote to save costs. You can even get virtual business addresses if you would prefer not to use your home address for contact purposes. Of course, it isn’t possible for all types of businesses to go for these options, yet if you can see it working for you then it’s well worth looking into! (Perhaps you can allow yourself a few nice working from home days too!)
Customer Relationship Management System
A CRM system works by managing customer data; it can support sales and also team communication within your company. CRM systems can also be linked to social media. Using one of these systems can help you to manage your customer accounts, store their contact details, and view customer interactions.
If you do not have an effective CRM system, you will likely be storing your customer information in multiple places. If this is the case, it will take you longer to go back and forth. If the places that you are storing customer data aren’t digitally connected, some critical pieces of info could get lost or missed. CRM systems will track everything from emails to phone calls and meetings.
Having everything in one place ensures efficiency and saves you money because you will not be wasting any time. In addition to this, you will save money when you don’t have to make and store paper records of this kind of information. Sites like Copper, can help you out with your CRM software.
Consider your advertising
Instead of going for paid advertisements to promote your business, adopt do-it-yourself and lower cost or free ways to advertise. If you learn how to successfully implement SEO techniques via your companies website, you can end up driving lots of traffic to your site for free!
If you outsource your website and blog content, consider writing it yourself? This won’t always be so easy if you are pressed for time, yet if you it can, it’s a great money-saving idea. You could gather the expertise of the different employees in your company and ask them to write some content for you also. When we are doing the same role day-in and day out, often it can be refreshing to have a new creative task to do!
Many companies will also opt for creating Youtube videos as a form of advertising, this can be an excellent way to both save money and to get your unique branding across. Social media is another great way to practice free or low-cost advertising. Due to its popularity, growing your online presence as a likable and friendly brand can do a world of good for your marketing!
It’s no secret that we are facing times whereby it is of drastic importance to protect our environment. If you reduce your electricity usage, not only will you be cutting on costs but you will be going greener too! Make sure that you always use LED lighting in your office space because these are far more energy-efficient than traditional bulbs. Better still, make use of natural light in your office space as much as you can. Natural light is very closely connected to promoting positive wellbeing and lifting our spirits. You won’t just be saving money and energy, but you’ll also end up with happier and more productive employees!
These days, many businesses are making the switch toward green energy solutions. You could look into solar energy by installing solar panels on your roof. Once the installation fees are sorted, you’ll find that your monthly electricity bills will be less.
You can also ensure that you focus on the little things like switching off all computers and other electrical appliances when not in use. You would be surprised how much a little goes a long way when everyone chips in to waste less. Any eco-friendly appliances you can buy for your office, for instance, an eco-friendly kettle, is a good idea also.
Ditch the paper
Now that we can do so many tasks digitally, we have far reduced the need for paper in the modern business world. If you use cloud computing systems, your employees can work together on projects within the space of the cloud, with no need to print anything out. You will save costs on paper, printers and fax machines if you commit to doing everything digitally. If you feel that your company cannot get by without some paper use, you can consider printing only what you absolutely have to. It could be a good idea to implement this by giving your employees a limit on the amount that they are allowed to print per week. As well as this, make sure you only print only double-sided documents.
You can save yourself money by buying second-hand equipment for your office. This could be whatever you need, from laptops and computers to furniture or storage equipment. Another way to save money is to make use of any free digital tools that you can to help with the running of your business. Some examples are tools like Google Docs or Slack. You can also use free website tools to create your site instead of getting in a professional to do this for you. (Any nice office decorations you need to boost morale can easily be purchased second hand too!)
Sometimes, the experience isn’t everything if you have the right intelligence and attitude. Interns can have much skill and enthusiasm to offer your company. If you find some candidates who learn fast, then having less experience won’t matter so much. If you use interns, you can cut costs on salaries and get some fresh new pairs of hands who may also have some innovative ideas for your company!
Review your budget
If you want to save money, you should take a look back over your expenses and see if there are any ways that you can cut the costs that you don’t need. You can also shop around for better deals on some of your outgoings. There are some great apps out there which can help businesses to budget, for example, Plan Guru. If you can revise your budget to include more savings, you’ll quickly free up some cash.
When you’re focusing on so many different tasks from your marketing and sales to your customer service, it can be challenging to have the time to sit down and work out your savings. Hopefully, some of these hacks will help you along the way! When you reduce expenses, you’ll see more profits, so it’s certainly worth putting even just a few ideas on your to-do-list.