Is Money Tight? Well Stop Stressing!
We’ve all been through a little personal money issues at some point. But when you go through money issues in terms of business, things start to get a little scary. Your whole life depends on your business, so making sure you’re managing everything to do with your finances is so important. If you feel as though you’re going through a little tight spot at the minute, don’t worry. There are ways to cut some costs and make sure you’re doing things as effectively as possible. Take a read on if you need a little help through your tough times.
The first thing you need to do is look at ways you can effectively reduce your business running costs, without affecting the running of your business. Look at where you’re spending the most each month. Is it on marketing? Rent? Employees? All of these things are super important to business, but all of them can have their costs reduced.
Rather than being in a more expensive managed office situation, why not look into going to unmanaged. Most of the rent you’ll pay at your current address will go towards the maintenance that rarely ever needs to happen. The only downside about unmanaged is you have to do the cleaning yourself, and you’ll have no receptionist. But fear not. Even though you may own your own company, you are allowed to get your hands dirty. If you and your employees spent five minutes at the end of the day just having a quick hoover and wipe down, you’ll keep the place looking brand new.
If you’re worried about the lack of receptionist, there’s ways around this too. You can get virtual receptionists, like the eReceptionist app that can solve the issue for you. You’re rarely going to need a receptionist, so going virtual and cheaper will be a much better option for you.
Then there’s the more expensive side of business, marketing. So much money gets poured into different marketing methods by so many different companies. Most of the time is the cost is going to the person you’re outsourcing the job to. The solution here is to stop outsourcing. Some parts of marketing are rather hard, but if you spend a week or so getting to know the ins and outs, it starts to make a lot more sense. You’ll never truly understand marketing, and will always be learning on the go. But unless you try it, you won’t know how much money it’s going to save you. On the whole, keeping things in house is a lot more cost effective, but we understand this isn’t always the best solution. But with marketing, we can assure you it is. If it’s your employees that seem to be taking up too much money, it may be time to look at making people redundant. As horrible of a job as that will be, you need to put the future of your company first. If enough sales aren’t being generated to keep the staff, you will just have to let them go.