Who doesn’t like to save money? In a small business the start up costs as well as costs to maintain your business can be quite exponential. Along with a good budget plan there are a few other things we can do to reduce our overhead costs.
- Marketing: There are many ways to market your business without large costs. You don’t necessarily need to have commercials, large billboards and radio ads. Instead take a look at social media advertising. You can market your business through different outlets like facebook, instagram, LinkedIn and Twitter to name a few.
- Website: Having a website for your business is important. Not only does it provide the information about your whole business but it also shows the legitimacy of your company. There are sites such as wordpress where you can create your own website at no cost but with an option to pay to have better quality.
- Space: Does your business need to run out of a store front? If not there is the option of renting an office space part time or even hourly. This can cut down drastically on your costs as you are not paying a full time lease.
- Speaking Engagements: If you are someone who doesn’t mind speaking in front of a crowd, then speaking publicly is another great option. Using the knowledge you have about your business, volunteering to speak at different events will get your name and business out there.