Every business owner strives to make their company as profitable as possible, but it is also necessary to spend money on several different things to keep things running smoothly. After all, without the appropriate number of employees, your productivity will drop, and this will end up hurting you financially in the long run.
Fortunately, there are many things that you can do to catapult your business into a more successful position without spending a lot of money. By taking advantage of these techniques, you can increase your customer base, reduce your expenses and generate a better bottom line.
1. Change Your Phone Plan
It is imperative for your business to have reliable phone service, but you do not need to pay the exorbitant fees that are charged by landline companies. Instead, you can turn to a VoIP (voice over internet protocol) provider to reduce your bill and increase your options. For example, it is possible to set up toll free international numbers at a greatly reduced rate by using VoIP at the office. This will make it easier for you to connect with a much larger group of customers, and it will enable you to grow your business for a very cost effective rate.
2. Use Local Outsourcing
There are many business functions that can be outsourced to other local companies to help you save money without acquiring the stigma that is attached to companies that get assistance from businesses located in another country. In order to save the most money with this option, you need to consider which aspects of running your business can be performed for a lower rate by someone who is not on your payroll. Examples of this include copywriters, payroll companies and print on demand shops. One such option is utilizing a secure online payroll system. These systems are changing the way that people handle their accounting by allowing employers to simply insert the numbers into the system and have the totals worked out for them without any hassle whatsoever. If you hire a new employee, the system allows you to insert the person's name and continue in the same manner. Employees will also have access to this system 24 hours per day and seven days per week, so you do not have to spend time providing them with payroll stubs and other information around tax-time.
3. Utilize a Data Center
Your company's critical data must be backed up on a regular basis, and you also need to have a cost-effective method for keeping everything secure. After all, a data breach could be financially disastrous. Instead, you can turn to a data center to host your files securely at a reduced rate over the typical cost of operating and storing large servers on-site.
4. Change Your Marketing
Although every business needs to advertise, you do not need to rely on expensive techniques such as buying print ads. Instead, you should turn to the Internet to help you dramatically reduce your marketing expenses while still reaching out to your target audience. Keep in mind that YouTube will let you post video advertisements for free.
5. Harness the Power of Telecommuting
If you want to save money while growing your business, you should definitely consider telecommuting options. After all, this will allow you to utilize less space, and that alone will have a major impact on your finances. It is also a good idea to structure your company so that all of your employees can telecommute one day a week because this will have a big impact on your utility bills.
6. Become an Eco-Friendly Company
When you make the decision to go green, you will improve your company's reputation, and you will also reduce your energy expenses. Additionally, simple changes such as switching to printers that have the ability to print on both sides will save you money, help the environment, improve worker productivity and make it easier for your business to grow.
Whether it is changing your advertising or your phone plan to toll free international numbers, with all of the options that are available, it should be easy for you to continue growing your business without absorbing a large increase in your operating expenses. Additionally, taking steps such as offering telecommuting will make your company stand out to qualified professionals when it is time to fill an open position.