Tips from July 1, 2009
The Small Business tips today will be about making sacrifices in your business to save money.
- Cut back on office luxuries, and focus on spending money on the important things. For example, providing office food can be cut back to once a week instead of every day. That money can be used towards a new marketing or advertising campaign.
- Let the unproductive and nonprofitable employees go. Having staff is important, but having staff that is not doing any good for your business is wasted money.
- Go generic. Some prestigious brands are much, much more expensive than the generic ones. Stick to the basics and you will have extra cash in your pocket.
- As a business owner, set money saving trends in the office. Limit personal spending and make other employees aware. They will see the benefits and follow your trend.
Daily Overview: Cutting back on unnecessary things in the workplace keeps your business's money in the bank.