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5 Costs Cutting Ideas For Your Small Business

The most important thing about running a small business during periods of rising costs is to cut expenses every way you can so that you can maximize profits. Even though it’s impossible to eliminate costs completely for most businesses, costs for basic services can be greatly reduced if you shop around. Here are some tips for making your company more cost-efficient.

1. Use VoIP for Phone Calls
Switching to a SIP phone provider or VoIP service providers is a great start since communication is a key to success and regular phone service can be expensive. You can cut phone bills by up to eighty percent and sometimes even get free phones by choosing VoIP.  Using VoIP helps you save by eliminating high cost standard phone lines, phone switch (PBX) hardware, and charges for long distance.

2. Market Your Business Online with SEO Content
Instead of gambling on expensive traditional media for marketing your brand, build a content rich website that serves a niche, which can cut marketing costs to almost zero. Use keywords that describe your business as web page titles. Concentrate on giving useful information that people are already searching for.

3. Interact with Customers on Social Media
Social media helps businesses save money in many ways. By engaging with customers on Facebook or Twitter, you can share product knowledge and get instant feedback. Social media can also help you build your client list and quantify responses so that you can quickly study how people feel about your product or service.

4. Consider Outsourcing
Instead of hiring employees you can cut overhead costs by outsourcing through websites that bring entrepreneurs and freelancers together. You can usually find experienced professionals through these channels willing to work for lower wages than regular employees.

5. Find a Low Cost Office Deal or Move to a Virtual Office
Working from home not only cuts office space costs, it can also save you money on transportation. If your work mainly involves a computer and/or a telephone, then you should definitely consider this option. Paired with VoIP phones, you can almost eliminate office rent and utility costs.  If you need to rent office space, ask a friend who owns an existing business if they would rent you space at their facility for a discount.

Your business will be much more efficient if you focus on reducing traditional costs as much as you can. Thanks to cloud computing, VoIP service providers and other modern tech solutions, it’s possible to run your business on a shoestring budget and still turn a nice profit. Keep in mind that the reason many businesses fail is because they spend more money than they bring in. Be very conscious of your accounting and you will have a much better chance of being successful.

3 Basic Ways To Lower Your Small Business’ Monthly Bills

As a small business owner, you are consistently looking for ways to save money, including lowering your monthly bills. This often seems like an impossible feat but there are actually a variety of ways to reduce your monthly bills without suffering any consequences. If you’re looking to save your business money, you must consider cutting out the things you don’t necessarily need, like your cable subscription for the lobby. You must also watch your gas and electricity usage… every little extra light or temperate degree cooler (or warmer) can make a big difference. Finally, look for ways in which you can lower your monthly phone bill, which may include switching over to a VoIP phone system – look into VoIP service providers that fit your needs.

Cut the Excess
Do you really need a large cable subscription just for the television in the lobby? By getting rid of cable all together, you can save at least $100 per month. Instead, put together a DVD promoting your company and play that on the television, or opt for basic cable. Put out some magazines or books as reading material for visitors who wait in the lobby for a bit.

Watch Your Gas and Electricity Usage
Gas and electricity usage is the number one money-eater that many business owners tend to forget about. Let’s face it – heating or cooling down an office can be tough and oftentimes, there has to be a set temperature for businesses with a large amount of computers and other technology. However, a few degrees hotter or cooler won’t make a huge difference in office atmosphere, but it can make a big difference in your monthly bill. In regards to electricity, it’s important to remind employees to shut off lights to unused rooms and you may even want to consider installing detection lights that turn off or on automatically in the restrooms.

Switch to VoIP Telephone Systems
Switching to a VoIP phone service can help save a ton on your monthly bill while giving you some great added features – all you need is an internet connection. Some benefits from a good VoIP service provider include professional greetings, music on hold, custom auto-attendant, internet faxing, conference calling, and more. You save money by eliminating expensive business phones lines from the phone company and getting rid of complex phone switch (PBX) hardware.

These are just a few basic ways to save on your business’ monthly bills. It all comes down to cracking down and using things such as electricity minimally and cutting out the excess bills while keeping up-to-date on the latest technology to save you money.

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Samantha Wideman is part of a team of writers and specializes in writing about current news events.