• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Top 8 Money Saving Tips For small Businesses

May 24, 2017 Leave a Comment

Share this:

  • Tweet
  • Email

This is a post aimed towards small businesses but others should find valuable personal finance advice as well. Businesses thrive on efficient utilization of resources and the one resource that needs to be most efficiently monitored and allocated is business’s cash.

Top 8 Money Saving Tips To Get You Ahead For Your Business

For startups, managing and saving cash can make the difference between survival and demise. There are a few clever ways which can help a business save and manage their cash without jeopardizing performance.

Top 8 Money Saving Tips For Small Businesses

  1. Going with open source platforms

Never invest in licenses for software in the very beginning. There are tons of open source options for almost any office software, which are equally effective in getting the job done.

Use of cloud computing and cloud storage instead of fancy backup and expensive storage equipment can also save you much green.

  1. Go green to save green

Being energy efficient and taking an environment-friendly approach to running a business, like paperless working environment, will help in saving a ton of cash.

Making your workplace energy efficient will bring down utility bills. You can use roof insulators or roof plantation to reduce temperature naturally.

Also, use solar water heaters, pay attention to your building’s vents, windows, and doors (get tighter seals) and use blinds or curtains to bring utility bills down.

  1. Time is money

Most businesses, especially the startups, tend to have too much time to meetings. You need to assess the true value of every task, as it is chugging away yours and your team’s precious time.

Employ standing meetings in the morning and during the day to avoid obsessing over long sittings and debate.

  1. Cut down on medical costs

You need to be prepared for emergencies to avoid extra medical costs. The best approach is to have first aid kits ready and use drug testing kits to test your employees because it’s way cheaper than testing laboratories.

  1. Stop obsessing over brands

For office equipment and maintenance use generic brands. You might miss fancy packaging and nice advertisement claims, but generic ones will turn out to be equally effective and will provide better value for money.

Brands don’t get your work done, get the right mindset and achieve with what you have. Employ the same tip in managing your household and save some more for your summer vacation.

  1. Buy used and shop online

You should buy slightly used heavy office equipment like office furniture, printers, scanners, and photocopiers.

The same formula of buying can be applied to computers, as only a few computing tasks might require the latest and fastest processing power.

Opting to shop online will enable you to compare prices, thus increasing your chances of getting a better deal.

  1. Learn marketing and employ social networking beyond personal use

You and your team know your product/ service the best, so learn to market it. PR and marketing can be learned comparatively easily if you know your product and audience well.

Learn and train your team on the effective use of social media to market your product and connect with clients.

  1. Pool in your resources

You can pool your resources with similar startups and share office space, utility bills and furniture. This will bring down initial investment by at least 50%. It will also offer the additional benefit of learning from your neighboring business.

It will also offer an additional benefit of learning from your neighboring business.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« 5 Quick Tips on Frugal Male Grooming
How Do You Define Your Worth? »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media