The BizFilings blog covering business tips and trends.
4 Simple Ways to Save Money for Homepreneurs
Published on Oct 19, 2010
Check out our 4 Simple Ways to Save Money for Homepreneurs at 'Time to Start Up,' the small business blog by BizFilings.
If you think I'm going to recommend dining on ramen noodles and macaroni and cheese for a year, you're right. Two ways down; two to go!
All kidding aside, sustaining life as a homepreneur certainly has its challenges. But keeping an eye on expenses is something that you can do throughout the different cycles of your business -- not just when profits wane. But there are ways to run your business smoothly without sacrificing the polish and professional appearance you worked so hard to build.
Rely on yourself. Isn't that what an entrepreneur does every day? There are certain things you can still do yourself to save money, including starting your own blog with programs as simple as WordPress or implementing your own social marketing tactics. There are literally millions of resources available online that walk you through the steps of utilizing these tools for your small business.
Hire students. Local colleges serve as a great resource for cultivating talent for a low cost. Many students may jump at the chance to work for you to gain professional experience as part of an internship program.
Cover your assets. Investing in incorporation will help you save money in the long term. Taking on additional employees, landing a new contract or purchasing new equipment may encourage you to incorporate for that extra padding known as liability protection. A money-saving method some business owners consider in today's Internet age is using an online incorporation service provider - which is more cost-effective than using an accountant or attorney.
Haggle with vendors. Swap services or products as a creative way to save on costs. If you need a Web designer, is there something you can give in exchange? Could you provide a link to his or her site? Or if you are a writer, could you offer to do some public relations mentions in future blogs or articles?
What other ways would you recommend doing (or eating) to save money?