Many small businesses have limited sources of revenue, so they must operate on tight budgets. As a consequence, cutting down costs whenever possible and saving money become a necessity. Below there are some small business money saving ideas and free advice, so feel free to put them into practice in order to increase profit.
Recruit Talented Students
Talk to a business teacher from the nearest college and tell him your needs. He can ask his students to collaborate with you as part of their curriculum. This type of work is generally done over the course of a semester and matters for the final grade in that particular class. Students can make market research, look for the best office and retail locations, identify local competition, and even write small business plans. Moreover, you can use the fact that they bring fresh eyes and encourage them to come with small business ideas, or plans on how to make your business more popular among young people. You never know which is going to be your best employee, and sometimes it is precisely those without experience who work the hardest and do their best to please you.
Thus, you are not only giving a chance to someone talented, but you’re harnessing their resources and making your business a better one. So don’t reject their small business ideas from the start, try to see things from their point of view, and you may discover what your business was lacking all along.
For recruiting talented students, you can post your offer on campus bulletin boards. Since students have to complete an internship to earn class credit, they will work for you for free.
Collaborate with a Freelancer
Sometimes, full and part-time employees are expensive and even not necessary to keep. An efficient alternative is hiring a freelancer, a contracted worker who works for you only when you need his services. This way, you forget about worries concerning payment benefits or payroll taxes calculations. When the freelancer does the work, you pay him.
Reduce Printing Costs
When the inks of your inkjet printer runs out, don`t buy new cartridges, but get them refilled at an office supply store. You can also buy recycled cartridges. These options are cheaper than purchasing a new one, so include them in your small business saving money plan.
When the toner is low on the laser printer, remove the toner cartridge and gently shake it from side to side then put it back in the printer. This trick will allow the printer to perform a few more projections until it actually needs toner replacement.
Another thing you can do in order to reduce costs for your small business is to save paper and print on both sides of a single sheet of paper.