subject: Money Saving Tips For The City Girl's Business [print this page] When you launch a new venture, every effort should be made to keep overhead costs as low as possible.
This is important because extra funds may be needed for emergencies.
There are many unforeseen events that can occur when you have a business, and these need to be taken into consideration. The great news though is that there are a lot of creative tactics you can employ in order to save money.
Here are some examples:
Bartering. Try to look for things to trade before deciding to buy. Goods can be bartered such as office equipment, rental space or even vehicles. Try joining a trade exchange network which can be found online. If you do decide to buy, try to negotiate the best possible price.
Wholesale buying (Bulk Buying). Buying in big quantities can save you a lot of money but you need to be sure that you are able to sell everything. There are many ways to buy wholesale and these include becoming a member of a wholesale club or buying directly from online wholesalers.
Networking. Networking is a great way to get more business. Instead of spending money on advertising, you should consider social networking sites like meetup.com and facebook. Through networking, you can also find companies to trade leads with, this can help reduce your advertising costs.
Freebies. The internet is full of "free" sites that offer useful items such as graphics, legal forms, software etc. Try to look for them first and see if they can be of use to you, before spending any money. You will be amazed at how much you can get for free.
Planning Ahead. You should have a list of equipment and supplies that you will need in the future. Refer to this list when you hear of sales and discounts, so that you are able to purchase what you need at a lower price.
Second-hand. You don't always have to buy new products. The second-hand market often has bargain goods at very reasonable prices. Bargain hunting requires a lot of patience, so make sure you set aside some time to really search for products that are worth purchasing.
Finding alternative suppliers. You don't have to always stick with the same supplier. It is a good idea to "shop around" and try to find a supplier who can give you a better deal or service. You can always go back to your existing service provider with quotes from competitors and give them the option to beat them.
Extra help. If you have a growing business and really need extra help, you may want to consider virtual assistants or interns. With virtual assistants you only pay for what you need, so you don't have to worry about payroll or benefits. Hiring an Intern is also a great way to save money because they are more interested in what they can learn as opposed to how much money they make.
Negotiate, Negotiate, Negotiate. Suppliers are always willing to work with loyal customers, so try to negotiate with yours if you need to. If you are current with your supplier, try to ask for a discount on your next purchase. If you can't pay on time, try asking for an extension. You will be surprised by how flexible people can be, especially in tough economic times.
