All of us are being hit by an economic recession, and for some this may be an outright depression. Since our economy is not sprawling the way it used to, everybody (including business owners) must be able to stretch their dollar as far as possible, and waste as little as possible. There are quite a few ways to go about saving money. These savings can easily tally into the thousands if you are careful; imagine how much more your business could acquire and afford if you made each dollar count.
- When you are trying to obtain furniture and fixtures for your office or business, you should visit places such as estate sales, garage sales, flea markets, and even going-out-of-business sales. Many of these people are out for a fast buck, or are simply trying to get rid of the furniture. You can find desks for as low as $20, where as they may cost over $100 brand new. This is a significant savings, especially if you must buy several desks. Lighting fixtures, bookshelves, décor, and seating are all great objects to look for in these sales. It may take some time to find several matching pieces, but it will be well worth it.
- Before obtaining bank accounts or credit card accounts, compare rates from several different competitors. This will help you to find the best deal, especially when interest rates and transaction fees are concerned. You would be surprised at just how much you can save by comparing all of your options meticulously.
- Instead of using your lawyer for different business processes, try firms like LegalZoom. They can help you with nearly any legal aspect of starting up a new business. It’s not only cheaper, but they are very experienced with startups. Your own lawyer may not be very well acquainted with starting a business, so you could be paying for consultation time that they are spending to become acquainted with startup regulations.
- Many new companies and businesses make the mistake of hiring an expensive artist or designer to build a custom logo for them. Surprisingly enough, this could reach well into the thousands for well-known artists. Instead, check around you for talented individuals in your friend circle or family. They may have no problem at all designing a logo for free, or for a small fee. This can be a drastic savings for your business. If you cannot find any personal connections, you could always look online for talented artists who are in need of some work. Fiverr is a great place to visit for such odd jobs, and there is a lot of talent to be found there. You really cannot beat $5 for a snazzy logo.
- If you know other business owners, it might be a great idea to organize monthly swap meets for supplies. Each business brings in surplus supplies, and trades them off for other supplies that they need. This not only eliminates clutter, but saves money in the meantime.