As a small business owner or an entrepreneur your resources are very limited, which means you have to watch your cash flow very carefully. Every penny saved is a penny earned. Making your money go further will help you stay in the business longer and compete effectively in the market. There are number of ways in which you can save money on your everyday operations. Here are few of the important suggestions you can follow to succeed as an entrepreneur.
Source used office equipment
Don’t spend hundreds on funky office furniture – head to garage sales, Gumtree, even the spring sale at Ikea – to kit out your workspace. If you’re creative, upscale the bargains you find in charity shops or even from a skip! When it comes to office supplies you can save a bundle by buying inkjet cartridges from vendors that are selling them up to 80% cheaper online.
Bring back bartering
Bartering is a great strategy to get products or services without having to pay cash. Talk to friends, associates, old colleagues and neighbours and see if you can’t do each other a few favours. Your hairdresser could accept some of your flyers in return for you posting a good review on Facebook, or you could offer some tax advice in return for some carpentry.
Use free resources for managing daily tasks
Don’t buy pricey management software or sign up to a subscription service before looking at the free software alternatives. You might download the free version of a more expensive programme – ok it doesn’t have all the whistles and bells, but it helps – to tide you over until you’re a bit more flush.
