Cut Costs with Video Conferencing
Business travel expense can take up a huge amount of a company’s annual budget. Travelling to attend meetings, seminars and trade events can prove a costly procedure, especially when accommodation, food and salary are all included.
Although much of this travel is necessary for the development of a business, it’s not only the company’s budget that is under threat but the environment as well. Planes, trains and motor vehicles all release harmful emissions and fumes into the atmosphere, spelling disaster for plant, animal and human life alike. Cars alone discharge around 4 tonnes of harmful chemicals into the air every year which affects people’s health and well-being. Businesses need to address this matter as they are potentially harming the people in which they serve.
Although businesses are becoming more and more open to the idea of ‘going green’, it is a surprise that most haven’t picked up on the benefits of video conferencing. Whilst many have adapted to procedures involving recycling and reduced paper waste, journeys that could be eliminated through the use of this technology are not being practised by the majority.
Video conferencing gives businesses the ability to set up client and colleague meetings without the need to leave a desk. Via an internet connection, people are able to undergo real-time face-to-face interaction whilst situated at opposite ends of the world. Whether it’s communicating with present clients, potential clients, work colleagues or giving a talk at a seminar, businesses are able to conduct compulsory and necessary activities without the hassle of arranging transport and accommodation.
Helping the environment whilst saving valuable money is just one of the many advantages associated with video conferencing. Although the initial cost may seem steep, the increase in productivity and reduction in paper usage cannot be ignored. This is due to the fact that all footage can be saved and downloaded, meaning there is no need for hand-outs or copies of slides because all of this can be done electronically, over the internet.
Businesses should not neglect the benefits of such equipment. It has already proved extremely useful for those who have already implemented it into their routine. Necessary conversations regarding the general running and the future of a company can still be done but without the travel and expense.
About the Author: This is a guest post by Nicola Winters on behalf of LifeSize, a leading supplier of video conferencing equipment.
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Guide to Renting Desk Space for Small Business
When you’re starting out in business, or even if you’re already up and running, then the cost of office space is often one of the biggest headaches facing any venture. Little wonder then that so many people simply decide to work from home, because this can be a great way to cut costs and keep overheads to an absolute minimum.
However, for anyone who has even gone down this route, or who is thinking of giving it a try, working from home comes with a whole array of cons that stack firmly up against the pros. Sure, there’s no commute, you’ve got creature comforts all around you and it’s cheap and easy.
The downsides can soon pile up though, because working from home can be solitary. There are also the interruptions that you’ll probably get from well-meaning loved ones. And working from a spare bedroom, study or even the garage soon loses its appeal. In fact, when you weigh it all up, the working from home scenario can be a double-edged sword.
Moving on up
It’s not suprising therefore to find that many small businesses are biting the bullet and moving into rented desk space locations. This can actually be a great way to go, and if you’re already leasing an office, then it makes sense to consider this angle too. One of the main benefits is that contracts are invariably on a short-term rolling basis and highly competitive.
With landlords keen to maximise profits from their dead space, you’ll find that many locations in inner cities and prestigious business parks are often way more affordable than you might have ever imagined. Of course, if you enter this desk space rental market with just a desk and chair option then there will be precious little in the way of frills. But, if you’ve got a desire to keep it simple and dip in and out of the office, then this may be all you need.
Saving cash
Cost saving will be instantaneous, because the landlord takes care of all the upkeep, the cleaning and all the rest of it. Desk space rentals often come with broadband internet but almost everything else will be absent. But the plus side to that is you just need to turn up, plug in your laptop and get working. Then, at the end of the day, simply unplug and head off home.
The added benefit of all this is that it’s highly flexible and you can be in and sitting at your desk in a matter of days or even hours. There’s certainly none of the protracted legal stuff to go through when you’re considering something like a traditional office lease. The same goes for when you want to leave or move on, with those rolling contracts providing much more freedom for people who don’t want to be tied into a contract or lease for years on end. With the current business climate proving to be tricky to say the least, then this sort of flexible working approach suits many people, both start-ups and those in an existing venture.
About the author: Rob Clymo writes on behalf of office space site www.officegenie.co.uk, the online marketplace for serviced offices and shared office space in the UK.
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Small Business on a Small Budget: 3 Simple Ways to Save on Costs
Every budding entrepreneur and small business owner wishes that they could launch their business with an unlimited amount of funds. But for many, unless they find a shiny gold genie lamp that wish isn’t coming true. If you are trying to start a small business with an even smaller budget there are still simple things you can do to come up with some capital and save costs on other areas so that your business can flourish. To learn the top 3 ways, continue reading below.
1) Use your Customers to Find Capital
It’s well known that it takes vast amounts of money to launch a small business. And if you are selling products rather than services, it can take even more capital—after all, you need to have funds to develop, test and manufacture the product(s).
But if you’re gaining no luck with investors and don’t want to turn to loan officers for the money (or maybe you don’t qualify for a big loan), another option you have is to depend on your customers. You can easily sell annual subscription memberships to big shot executives who can afford to pay fees up front and in full for example.
You can in–turn use that money to hurriedly jump-start your business—just make sure that your customers receive what is promised to them or you will be responsible for paying all that money back. While this option may not be possible for every business model, it certainly can help out a few small business owners.
2) Hire Unpaid Interns
One of the easiest ways to cut back on costs and still get the extra help you need is to hire unpaid interns. There are tons of eager college students who are dying to get their hands dirty in order to learn the tricks-of-the trade, earn college credit, and boost their resumes. Some will even work for the experience alone without earning college credit.
That said, interns can be most helpful. It’s up to your own discretion to decide where you feel an intern would be most useful however—maybe in the marketing or accounting “department.” But at the very least you can most definitely find a college student to be your social media intern. The duties of a social media intern typically include monitoring and updating all of your businesses’ social networking sites (Facebook, Twitter, Google+) and passing out fliers/business cards.
Your social media intern maybe even be able to do some small secretarial work such as answering phones and sending e-mails while in the office. To make sure that you get some qualified applicants, contact the nearest college(s). They may be able to get your business on a official school list serve so that internship-seeking students can easily find you.
3) Take care of Financials on your Own
As soon as your business starts to really pick up then by all means hire all the professionals you need to take care of all of the financial projections, cash flows, budgets and book keeping. But if your business hasn’t really expanded yet and you’re really strapped for cash, you can hold out for a while and save a hundreds of dollars by taking care of these matters yourself.
Granted, you want to make sure that you are properly educated in this field so that you don’t make a major mistake that can severely jeopardize your business. While returning to school is a plausible option to expand your skills in this area, you just don’t have the funds to go back to college. Instead, you can brush up on your skills (or learn then entirely from scratch) by taking some free online classes like the ones listed below:
- Introduction to Financial and Managerial Accounting
- Fundamentals of Personal Financial Planning [UC Irvine]
- Business Skills for Success [Kutztown University of Pennsylvania]
- Introduction to Economics [Utah State]
About the Author: This is a guest post from Carol Wilson who writes for business insurance guide. She contributes articles about a variety of marketing, business, stock market, small business topics. She can be contacted at: wilson.carol24 (at) gmail.com.
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How to Manage a Business Without Stepping Foot in an Office
The costs of managing a business from a traditional, physical office are numerous. Small business owners must factor in all of these business costs when calculating their bottom line:
Rent, insurance, utilities (including gas, electric, water and sewage), parking, Internet, phone, and cleaning
By choosing to manage your business from your own home, you can eliminate many of these costs and enjoy the freedom of setting your own hours and working in a familiar environment. Since you already rent or own a residence and pay for many of the aforementioned services, managing from home will allow you to free up more financial resources for your business, allowing you to purchase computers, project management software and wireless mobile devices.
Step 1: Prepare to Manage Multiple Work-From-Home Employees
Managing several employees without the luxury of a central office can be a difficult task for any beginning entrepreneur. For this reason, it’s important to ensure that your home office is technologically capable of handling managerial tasks. If you own an older laptop computer, or if you don’t own one at all, now is the time to buy a latest-generation laptop with plenty of hard drive space, RAM and a fast processor. Consider purchasing a large external monitor, which will give you additional screen real estate for multitasking. Solid-state drives, or SSDs, offer fewer moving parts, enhanced reliability and reduced access times when compared to traditional hard disk drives.
Today’s business world is managed on-the-go. To keep pace, it’s important to invest in mobile devices such as a smartphone or an iPad. These devices, when paired with wi-fi coverage and the 4g network, allow you to manage your business regardless of your current location.
The 4g network, which serves as the successor to the slower 3g network, is becoming more widely available in many areas of the country. 4g coverage, which offers speeds comparable to those of cable and DSL, can be used to provide Internet connectivity for your computer, mobile phone, or other devices such as the iPad. For a variety of different options, 4g reviews will help narrow down your choices, and supply you with a good place to start.
Step 2: Invest in Online Project Management Software
You can choose between two popular online project management programs which facilitate the management of your company’s workload. These programs include Central Desktop and BaseCamp.
Basecamp is a project collaboration tool that allows you to manage your projects and employees from your home computer or mobile phone. Basecamp emphasizes ease of use at a low cost, with packages starting at $49 per month including a free 30 day trial. The most basic Basecamp package, entitled Basecamp Plus, allows you to simultaneously manage 35 projects with 15 GB of storage and unlimited users. According to surveys conducted by Basecamp, over 98% of Basecamp users said that they would recommend the program to others. Basecamp is available in multiple languages, making it perfect for those managing international businesses from home.
In comparison to Basecamp, Central Desktop offers enhanced functionality at the cost of potentially higher monthly fees. The most fully-featured version of Central Desktop, entitled Enterprise, is ideal for companies with 20 or more online employees, includes over 100 GB of storage space, and allows for unlimited workspaces. Enterprise, which costs $299 per month, includes state-of-the-art security features such as TLS encryption, off-site data backups and the ability to manage IP restrictions. More basic features such as file sharing, online spreadsheets, discussion forums, online calendars, online diagrams and MS Office integration are included in each edition of Central Desktop, including the free Basic package.
Step 3: Obtain Free Business Software
Next, you’ll need to obtain free business software programs such as Skype, Gmail and Dropbox. These programs are designed to facilitate business management communications and file transfers.
Gmail is a free email service provided by Google. When you register for a Gmail account, you’ll receive an email address and approximately 7.5 GB of online storage space.
Skype is a popular communications tool used for text-based chat, video chat, voice chat and screen sharing. Skype, which can be downloaded from www.Skype.com, is compatible with Windows, Linux and Mac OS. You can call other Skype users for free, or make calls to land lines and mobile phones for as low as 1.2 cents/minute with a monthly subscription.
Dropbox is a free program designed to facilitate file sharing. When you and your employees install Dropbox on your business computers, you’ll have access to 2 GB of shared storage space. The Dropbox folder will appear as any other folder on your hard drive, except that anyone with the proper administration privileges will be able to access its contents. Additional storage space is available for a fee.
Step 4: Find Employees and Consider Outsourcing
At this point, all of the technical aspects of managing your business from home should be in place. From here, you’ll need to find employees to staff your business. You can accomplish this by using job posting sites such as Indeed.com and elance.com.
First, direct your browser to www.Indeed.com and click the Employers link. From here, you may click on “Advertise a job” or “Advertise many jobs.” You can then create a job posting, including the job title, name and location of your company, and a job description. You must also enter your job budget, which represents the maximum amount of money you’re willing to spend on advertising for the job through Indeed. After completing this process, Indeed will highlight your job posting as a sponsored link in their search results. This will make the job more visible to job searchers. This service follows a pay-per-click advertising model. You’ll only be required to pay when someone actually views your job posting.
Consider using a site such as Elance.com, a productivity hub that allows you to outsource your work to freelance workers around the world. The workers registered at Elance.com specialize in a variety of areas, including web design, programming, content writing, administrative support, finance, engineering and legal administration. Simply post a description of the work you need completed, as well as your budget. You’ll then receive bids from potential employees, along with their payment requirements, experience and references.
About the Author: Michael Cash is a twenty something freelance writer and internet consultant residing in western Michigan. When he’s not coaching people out of 1990s era web practices, amateur astronomy and hiking take up his time. A completely random fact about Michael is that he used to “ghost hunt” as a youngster.
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4 Effective Ways of Cost Cutting in Small Businesses
A lot of small businesses around the world continue to lay off employees and cut benefits to beat recession that’s taken strong hold on the economy of the country.
The recession and debt of a country cripples the economy of that country. In your own way, you should try to get out of debt so that the economy improves a bit. For small businesses, cost cutting is a way to avoid falling in debt and if you’re a small business owner, you can check out the ways you can cut costs.
4 Ways Small Business Owners Can Cut Costs
It’s not just the employees who are feeling the pinch of getting pink slips, but the small business owners are also feeling the money slipping away from them. So, every decision you make has to be thought well before. So, take into effect the following ways you can go for cost cutting in your business:
#1 Employee Cut Back
The best way to cut costs in your business is to lay off your employees. This decision has to be thought over before you take any action. You need to review the quality of work your employees do and who are the employees you need to lay off. If there are any employees that take a lot of leaves and don’t work that effectively, you can consider them. The employees who need a lot of time to complete the work can be laid off. If you think that a certain employee is good in something else rather than what he’s doing, you can altogether dissolve his position and put him in any other rank and position. If you’re in debt because of your business, you can take help of all these ways and get out of debt with the money you save.
#2 Salary Cut Back
This can be another effective way to handle the recession in the economy and cutting costs in your business. You can cut back on salaries of your employees and also certain benefits that were given to them. You can talk to your employees about certain cut backs on salaries as well as voluntary cut backs on hours so that they are not laid off. It’s anytime better to cut back on salaries and hours than to lay them off. You can also increase the deductible of the health insurance policy that your company offers your employees. This can also help in cost cutting strategies without cutting back on benefits. High deductibles can also help the employees. You can also ask your insurance provider as to how you can use this plan to cut costs but still provide your employers benefits.
#4 Software License Cut Back
Getting a software license can be quite costly. These licenses are charged by machines. If you buy additional licenses for your business, it can get costlier. You can make use of software license by having your employees work in shifts. If your employees work in alternative shifts, they can share the software licenses and help in cutting costs. But before you do anything with your software licenses, just review your agreement so that you aren’t violating any part of the agreement. This way, by alternate use of the software licenses, you can easily save the money to get out of debt and cut costs.
#4 Working From Home
This is another way to cut costs. If you allow your employees to work from home, you can help save money from paying on furniture rent or utilities and other additional charges that are needed to maintain your office. Telecommuting can be an excellent idea to cut costs as well as make your business flourish.
If you’re trying to cut costs as well trying to get out of debt because of recession, you can take help of these measures. This’ll make you successful as well as help you save your business from going bankrupt.
About the Author: Ryan Smith is a contributory writer associated with the Debt Consolidation Care Community and has written several articles for various financial websites. He holds his expertise in the Debt industry and has made significant contribution through his various articles.
Photo Credit: dboy
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How Businesses Can Save Money This Holiday Season
The holiday season can be a busy and somewhat expensive time for companies. There are parties for staff, gifts for select customers and clients, and decorations – just to name a few expenses. But the holidays don’t have to drain the company bank account. There are things that your business can do to save money during the holiday season.
Choose Potluck
For this year’s party, why not go potluck? It can be very expensive to book a restaurant or hotel for a holiday party. And because of that cost, you may end up having to charge your employees for attending their own party. But, if you rent out a room and have a potluck gathering, it will not only cost the company less, but also cost your staff less. It also adds a nice, homey touch to the party. Staff can bring in their favorite food and even share recipes. This option usually means more food for less cost. Also, since the staff is bringing in the food, you can be guaranteed that they’ll like it! And at the end of the party you can send the leftovers home with everybody so there’s no waste.
Bulk up your Holiday Cards
If you send out Holiday business greeting cards to staff and clients, order them in bulk. This will save you a lot of money since you can cash in on bulk discounts. With most business greeting card companies, the more you order at once, the cheaper the order is. You can save quite a bit of money by ordering the same cards for your clients and staff. And instead of mailing out your client Holiday cards, consider hand delivering them. If your clients are local, you can save money on postage. Also, it’s more personal to drop off a Holiday card than it is to mail it. If your clients Holiday cards have to be mailed, consider doing it in bulk to save money.
Furlough Employees During the Holiday Season
Everybody is busy during the holiday season, but sometimes, depending on your business, it can be a slow time. If you don’t need to have your staff at full capacity, offer extra days off. Some staff members will be more than happy to take a day or two off without pay during the holiday season so they can get caught up on holiday tasks or spend extra time with their family.
Forgo Client Gifts
If you send your top 50 clients a holiday gift, that can add up, even if it’s something simple like a box of chocolates. You have to pay for the chocolates, wrapping and shipping. That can equal a lot of money. Instead of sending out a gift, why not offer a discount coupon? When you send out your Holiday business greeting cards, include a special Holiday coupon. It can be for a certain percentage off or a free item with a minimum purchase. Not only do you save money on the purchase of Holiday gifts and shipping them out, but you can bring in some extra business during the Holiday season. If you do opt into sending certain clients a Holiday gift, look into ordering them online. You can save money on shipping and there is often a discount if you order in bulk.
Recycle Holiday decorations
If your office decorates during the holidays, make sure to reuse your decorations from year to year. This can save you from having to buy new decorations. If you do need to replace some holiday decorations, shop after the holidays are over, when decorations can be on sale for as much as 80% off. Another option is to let your staff bring favorite decorations from home. If each employee decorates their own office or work station, then the company won’t have to provide decorations.
The holidays don’t have to be an expensive time for your company. By following just a few money saving tips you can have a happy holiday without breaking the bank.
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Author Bio: Diane Ferraro is a writer for a business greeting cards company and is always looking for ways to save money –especially around the holidays! When she is not writing or blogging, Diane loves to spend time with her twin daughters.
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4 Ways Small Businesses Can Creatively Cut Technology Costs
Out with the old and in with the new. The philosophy we often apply to spring-cleaning works just as well for starting or maintaining a successful small business.
More often than not, small businesses come to a point when its time to leave behind old business practices to stay on par with budget. And chances are, your small business needs to get creative at finding ways to cut back monthly operation costs.
So reconsider practices you thought you needed, and take a closer look at what is necessary for the business’ success. Make room for new best practices that can reduce costs, without reducing your ability to work successfully or service your customers properly.
Out: Leasing office space
In: Virtual offices
There is something thrilling about having an actual office to go to; nothing says “legitimate” like an office. But if you’re trying to conserve cash, pass on leasing office space in favor of some thrifty alternatives.
Have everyone work virtually from home. There’s no cost for the space, and you can use online services to store and share documents, creating a de facto network for the organization. You’ll also save on many of the things you don’t think of at first, such as office furniture and decorating expenses.
If you feel you need an office that’s separate from your home, see if you can sublet space from another company in your area. With all the downsizing that’s occurred recently, especially in service-oriented businesses, many companies could be paying for empty space.
You can also look into common office space – the type where several organizations share certain resources, such as a common lobby, conference rooms and admin support – while occupying different offices.
Out: Business phone systems
In: Smart phones and virtual phone services
Smart phones are rapidly replacing land lines among consumers. In fact, a recent report from the Centers for Disease Control and Prevention shows 25 percent of U.S. households are cell phone-only homes. And now the technology exists to move business phones in the same direction.
Virtual phone services for small business allow businesses to overlay an entire business phone system on top of any working phone number – including a mobile number.
When you sign up for a virtual phone service you are assigned a phone number (which will become your “business” number). Usually you can choose between a toll-free or local phone number. The service provides business-oriented features such as a virtual receptionist to greet callers and direct them to the right people, the ability to assign extensions to different people in the company (even if those people don’t work in the same building), enhanced voicemail, smart call forwarding and more.
Each of the extensions can be linked to your employees’ own mobile and/or home phones, saving on the cost of phone equipment. Anyone on the system can initiate a conference call, and in some cases bring in as many people as they want. All of this functionality comes for a monthly fee that’s often less than the price of one land line – and with no added cost for equipment or technicians to run it.
Out: New computers
In: Used or refurbished PCs and laptops
OK so this one’s more “out with the new and in with the old,” but it’s an idea that can save your small business money up-front. While everyone loves a bright, shiny new PC, most small business owners really don’t need all that processing power. Take a look at what you want the computer to do. If you’re planning to use it with basic office applications such as word processors and spreadsheets, send and receive email, and surf the Internet, a used or refurbished PC will likely work just fine.
You can purchase used or refurbished computers online at a significant discount. Many of these computers are units that have come off-lease from large corporations, so you know they should have the core capabilities and speed you need.
If you need to share files or resources with one or more co-workers, you can build simple file and print sharing networks with used wireless routers or low-cost devices available at local retailers. Or you can use an online file storage service that allows you to access files from any computer, anywhere you can get an Internet connection.
Out: One-task wonders
In: Multi-purpose tools
Look around your office or through the applications on your computer. How many things do you own that have only one function? Can that function be performed by something else?
A fax machine is a good example of a piece of office equipment that is only capable of performing one task. All it does is send and receive faxes. Yet there it sits, costing you money for a dedicated phone line, paper, toner, even the power to keep it running and ready to receive an incoming fax.
You can eliminate almost all of those additional costs by moving to an Internet fax service that allows you to send and receive faxes on your PC or smart phone. Not only will this keep a little more green in your wallet, it also adds convenience since you can send and receive faxes anywhere you can get an Internet connection.
When it comes down to the software you are using to run your small business, consider a pay-as-you or Web-based service model – also known as the “cloud.” With this model you pay a small monthly fee rather than buying the software up-front, and you still gain access to feature-laden applications that are normally found only in expensive packages.
For example, for roughly $10 per month you can access services that help you design, manage, send and track promotional emails to your customer and prospect lists. With these services you can build high-value email campaigns that look like they were created by high-priced professionals, but were actually created by you.
Cutting costs doesn’t have to mean compromising on quality or usefulness. In fact, the ideas above will actually help you work faster, better and more efficiently.
Take a look around your office and see how a little “out with the old, in with the new” thinking can help you work smarter – and keep more cash in your coffers.
About the Author: Steve Adams is the vice president of marketing for Protus, a provider of communications tools for small-to-medium-businesses and enterprise organizations, including the MyFax internet fax service; my1voice, a virtual phone service; and Campaigner, an e-mail marketing service. He can be reached at sadams@protus.com.
Photo Credit: batega
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5 Tips On How To Create a Business Website With Minimal Expenses
Nowadays many people deal with Internet business. Some use World Wide Web as an additional marketing channel to engage their target audience. For others – domain and hosting resellers, web-designers, social media marketers, etc. – all the Web is actually the primary target market.
Whatever your business is, you need your own website to run the desired project. If you are just starting out, you may get easily trapped by big expenses and the choice of costly and sometimes unnecessary solutions.
Here are some tips to help you build your own site without a risk of money waste:
Free domain name – the domain name is much needed for a business site – it should be catching and easy-to-spell. But who said you should pay for that? Many hosting providers offer free domains along with their hosting packages, so you should search for one, which does. Usually those domains are provided free-for-life, which means, that you’ll keep using this domain for no fee for as long as you stay with your host.
Cheap hosting – in the world of hosting the word “cheap” does not stand for “low-grade”. Modern technologies allow hosts to have hundreds of clients on one server and provide great services. Of course, there are many limitations on such so-called shared servers, but if you are only starting it may very well server all your needs. Once you feel your business needs a step-up – you will be always able to upgrade to a bigger plan or to your own powerful server.
Promos and discounts – constant updates and competitive spirit of hosting companies makes them constantly release new promotions and discounts. If you are lucky, you may come around a 30%, 50% and sometimes even 75% discount. But even if you get a 15-20% discount – the most usual rate – you may consider you’ve got a couple of months of free hosting.
Scripts-installers and sitebuilders – if you have never dealt with website building, it’s not really advisable to start training while creating your business page. On the other hand, no one says you should hire a webdeveloper. Many hosting providers provide script-installing and site-building tools, which let anyone create a simple but nice and professionally looking web-site with the help of couple of clicks.
Feedback – if you have just launched your business website, make sure your “Contact Us” page has only your current telephone number and a shared email address (e.g. info@mycompany.com). As you are only starting, you shouldn’t expect too many calls and emails to arrive, so you’ll be able to cope with them on your own, without involving additional staff.
Those tips should not be taken for a universal cure, as some projects may need a hi-end, top solution, which cannot be cheap or free. However, if any of those helps you make sure your online business is granted a smooth and affordable start.
About the Author: Arkadij Shkolnik is the PR director for SiteValley.com. SiteValley.com is a reliable Cheap Web Hosting provider that can help you meet your online business challenges. They exist to provide the highest levels of quality and service in the highly specialized area of Internet hosting and deliver value and performance to our customers.
Photo Credit: hellochris
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The Top 5 Ways for Small Businesses to Save Money
When starting a small business, it is tempting to go straight for the biggest, best, and newest of everything.
But if you’re like most entrepreneurs, you’re doing this on your own, without the wallet of a big investor or a silent partner to see you through the tough times. That said, you need to save money wherever you can.
And chances are, unless you are offering some sort of specialized technological services, you don’t really need the most expensive new toys on the market.
So, to get started, here are the top five ways you can save when starting a small business.
Computer Equipment
This is an absolute necessity for small businesses nowadays. At the very least, you’ll need to conduct some amount of business online, so you’ll have to have internet access. In addition, you can do all of your bookkeeping via software like QuickBooks or Bookkeeper. However, buying hardware and software for your small business can get very pricey, so to save money, think about searching for something refurbished.
Most computer companies offer older (but still viable) computers at discounted prices. Or if you have to have it new, look into offers from Dell. They have all kinds of cost-effective solutions for small businesses and they will be able to offer more discounts if your business grows.
Ditto on software. It’s natural to gravitate towards known brand names, but less expensive software may do the same job or even fit your business needs better than the high-priced option.
Office Equipment
This could be anything from furniture to the paper in your printer. For starters, skip the stuff at office stores. The furniture is too expensive for the quality you get.
Instead, look at other options like Costco (a business account has other benefits, as well) or estate sales, especially if you’re outfitting a small space. As for office supplies, look online. You’ll pay for shipping, but you’ll probably save a lot on everything else. And buy bulk when you’re able.
Staff
Don’t be too quick to hire on a large staff. You may want to go big right out of the gate, but try to remember that this is a marathon, not a sprint.
Cutting head count initially is huge money-saver, and depending on how fast your business grows, you don’t want to have to fire and re-hire. Plus, if you start small, you will not only save on salaries, you’ll also spend less in extras like insurance and bonuses.
Office Space
The same as with head count, you want to start small. Leasing a huge office space is a great way to waste money.
Instead, opt for a smaller space with better visibility and accessibility (if you’re counting on foot traffic, this could be a much wiser use of your funds). And try to start with a short lease in case you do see outrageous growth and need to expand.
Finally, Shop Around
This applies to absolutely every aspect of your business. A little legwork can get you better rates on everything, from phone and internet service to the bagels you bring in on Fridays. As a small-business owner, you can’t afford to throw money around, so take the extra time to make every penny count. In the long run, it could make the difference between whether your business sinks or swims.
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5 Ways to Save Money on Your Small Business Website
If you have a website of your own, chance are you are paying fees out every month or year to have the site.
While conducting research recently for reseller hosting company 34SP.com, I discovered that website fees can force site owners to abandon their sites. Often, the burden of paying monthly fees takes a toll on the webmaster. Sometimes the webmaster simply closes down the site rather than sustain the loss of money every month.
If you have a website, and if you pay fees to maintain it – you may want to consider these 5 easy steps to save money on your website right now.
1. Pay less for your domain name – While you definitely need to have a distinctive domain name and brand, you don’t need to pay top dollar for the privilege. Here’s a good example – if you have your domain name registered with Register.com you’ll pay $35.00 per year for a .com domain name. That same domain name if registered at a discount registrar like GoDaddy.com will cost just $10.69. That’s a price reduction and savings of nearly 70 percent. Imagine the savings if you have multiple domain names for your websites.
2. Pay less for your website hosting – You will absolutely need great web hosting as well. However, why pay for what you don’t need? If you run a straightforward WordPress website, then you shouldn’t need a hosting plan that charges $89.95 per month (I found this plan doing a bit of research into pricing). Great web hosting is available for less than $15 per month. Shop around and start saving – especially if your paying anything over $50 per month for a basic hosting setup.
3. Get an advertiser (or two) – No matter what the topic or content on your website, it is very likely that there is an advertiser willing to pay real money to get in front of your audience. If you are sales-minded you can likely figure out which niche you serve and approach a few companies about becoming an advertiser. Don’t be discouraged by hearing the word ”no”. This is simply necessary to get to the ”yes” that the ideal advertiser will say. You could also consider getting paid by a third party to advertise on your website. For example both Pay per post and reviewme will pay anywhere from a few dollars up to hundreds for a site review or blog post on the subject of their paying advertisers. See their websites for details.
4. Put AdSense ads on your website – Another great option to get paid ads on your website is to use Google’s AdSense program for publishers. The system is ubiquitous around the Internet and requires no selling at all by the website owner. If fact, Google will even figure out which ads perform best on your site. You simply sign up for the program and then put some AdSense code on your website. The ads appear automatically. You can find all the details here: http://www.google.com/services/adsense_tour/index.html.
5. Ask for donations – Depending on your audience and site content, it may be appropriate for you to ask for donations to keep your website operating. Large scale sites like Wikipedia operate this way, as do smaller non-profit sites. PayPal has made the process very easy with their pre-configured donation buttons. Similar to AdWords, to get the donate button on your site you simply cut and paste html provided by PayPal into your website. Once set up, you can accept donations made with credit cards, debit cards, or PayPal. There are no set up fees with the donate button – but you will pay a transaction fee for each donation. See the PayPal website for details.
Good luck with your website, and don’t forget that a penny saved on your website is a penny earned.
About the Author:Derek Vaughan is a web hosting industry veteran, marketing consultant and writer. Mr. Vaughan has architected the marketing growth of several prominent web hosting success stories leading to acquisition including Affinity Internet, Inc., Aplus.Net and HostMySite.com. Prior to his entry into the web hosting industry, Mr. Vaughan was responsible for online marketing at The Walt Disney Company where he marketed ecommerce for the ESPN.com and NASCAR.com brands. Mr. Vaughan received his M.B.A. from Vanderbilt University and currently serves on the HostingCon Advisory Board.
Photo Credit:Alan Cleaver
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