Running A Business Is Expensive! What's An Entrepreneur To Do?
If you're in business for yourself, I'm going to guess that you always have two things within easy reach: coffee and your checkbook. Am I right? Who doesn't need caffeine? And when you're running a business, there are always bills to pay. OMG, so many bills! Never mind if you pay online, or if your bookkeeper pays the bills, you know what I'm talking about. The money is always going out! So what can you do to lower your cost of doing business? Plenty. You may have to make a few changes, break a few old habits, but it can be done!
To start, take a look at some of your fixed expenses. Rent — can you renegotiate your lease? Move to cheaper digs? What about subletting a portion of your space for added income? Utilities — turn out the lights when you don't need them. Lower the thermostat in winter, raise it in the summer. Phone/fax/Internet — reconfigure how these are set up and shop around for better rates. Equipment — if you use special equipment, consider leasing instead of purchasing. Or buy used instead of new. Office supplies — be more frugal about printing documents. Print drafts on the clean side of "used" paper. Have supplies delivered less frequently. Use real plates and cups instead of paper goods. Some of these suggestions are easier to implement than others, but really paying attention to the cost of doing business in all areas of your business can add up to some significant savings for you.
This week I shared some quotes from one of my fave authors... moi! Hopefully you liked them and maybe they even got you thinking about how you run your company and what's going on with your business expenses.
Be Oh So Quotable This Week!
I always say running a business means the work never ends! Ain't that the truth? I bet your to-do list is a mile long! Make sure that the items at the top of your list are the things that relate to being more profitable. Everyone is so proud of being so "busy"...But Are You Making Any Money? Don't be too busy to focus!
Check out the summary of last week's business tips and motivational quotes from my Instagram page which you hopefully got to see in real time! If not, let's make sure we're following each other on Instagram!! So...here is this week's roundup of Instagram images of My Top Business Tips and Motivational Quotes.
Cost Of Doing Business – Tip #1:
Love this? Pin it to your Motivation Board.
"Uncovering hidden costs empowers you."
Cost Of Doing Business – Tip #2:
Love this? Pin it to your Business Tips Board.
"You need to understand what all of the costs of running your business are."
Cost Of Doing Business – Tip #3:
Love this? Pin it to your Quotes Board.
"If you suspect that you are leaving money on the table or working for less than you're worth, it's time to do something."
Cost Of Doing Business – Tip #4:
Love this? Pin it to your Business Tips Board.
"Coding gives you the facts so that you can improve your situation & your practices."
Cost Of Doing Business – Tip #5:
Love this? Pin it to your Motivation Board.
"When you really start understanding just how high your expenses are, it's a no-brainer to adjust your fees to cover them."
Let's talk! I'd love to hear YOUR stories on how you adjusted your cost of doing business!
I'm sure you have advice to share about lowering the cost of doing business. Which tips above did you find helpful? I would LOVE to hear from you!
Anyhoo...I publish these business tips and motivational quotes to get you fired up for your work week! And, if you want more business tips, get my book, But Are You Making Any Money? or contact me to really take your business to the next level!
xoxo M
P.S. Of course that's not all we've got! Searching for more tips about running a business?
Then definitely take a look at these:
I Spent How Much? Business Expenses Gone Wrong!
Track Your Time To Improve Your Bottom Line!
How To Be Profitable: More Method, Less Madness
I'd love to hear your ideas! So please comment below and then SHARE!
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