Save Money: 10 Hot Tips

The stock market is on the rise, the unemployment rates are falling .... Hooray! All the reports are saying the last people to see the effects of the improvements in our economy, however, are the small business owners. With that in mind I did some research and found 10 things that I thought could help myself and other small business owners save money.

1. Have a Plan! I think making a plan is the most important way to save money. When you are on a budget you would not go to a store without a list, running your business shouldn't be any different. There are a variety of resources available to small business owners to help create the most effective business plan.

• Find a Mentor. Locally, there is SCORE Vancouver which is a free resource for business support that will match you with a successful business owner.
  
• Take Advantage of Great Online Resources. The Small Business Association has an abundance of resources.
• Hire a Marketing Agency. For some great tips on how to find an agency that works for your needs check out THIS link.
  

2. Go Green! Not just to tap into one of the hottest trends in business right now. Not just to improve your bottom line. Not just to improve the environment. Going green is good for you and for your business for all those reasons. Energy-efficient technology will save you money over the life span of your computers, phone systems and other tech tools. There are often tax benefits to green technology, too. Not to mention it'll help out the environment.

• Turn off lights & equipment that you aren't using.
• Use a laptop, not only do they use 90% less energy but you can take your work on the road with you.
• Buy recycled ink cartridges and enjoy the same quality printing as the more expensive version.

3. Travel Less! Not only will you put less miles on your car, but you will save time and money by setting up online meetings. Join Me has a great free version that will work for many of your business needs.

4. Redecorate Your Office! This may surprise you, but giving your office a fresh look with a lighter color of paint will save you money in the long run because you will use fewer lights. Add motion sensors to your remodel and save even more on your light bill.

5. Hire a Freelancer! With modern technology there are possible freelancers for just about every position ranging from accounting to graphic design. Freelance workers bill by the hour so you don't wind up paying them for 40 hour work weeks when your business load is lighter. Save money on overhead by hiring a quality freelancer.

6. Barter! The days of trade are not behind us. Many people are willing to barter services, it is a great way to save on the bottom line as well as get your name out there in ways you might not have. Some of my best clients started out as a barter situation!

7. Membership Rewards! Maximize your rewards points by double-dipping on programs for many of your office and electronics purchases. You can get points from your credit card provider as well as stores like Best Buy and Office Max.

8. Clean Up Your Mailing List. The U.S. Postal Service will clean up your mailing list for free, correcting addresses, noting incomplete addresses and adding ZIP+4 numbers so you'll be eligible for bar-code discounts.

9. Take Advantage of FREE Advertising! In an age of multi-media marketing there are many ways to advertise your business at no cost to you:

• Start a blog. You can advertise, review your offerings and give free tips as often as you’d like without worrying about running up your budget.
• Use YouTube. YouTube is a great free way for you to get the word out about your business. Note: Video searches come up higher than text or images in search engines.
• Communicate on online forums and message boards. You’ll interact with potential clients and customers — for free.
• Use email. Similar to the newsletter, email marketing campaigns will let you interact with specific customers about new products that might interest them.

10. Love Thy Neighbor! Well at least get to know your neighbor businesses. They might be interested in forming a co-op to save on things like advertising and insurance.

Happy Tuesday . . . Now Make it Monday!

Portland Cardiologist and Author of the new book The Flex Diet, Dr. James Beckerman, has a motto that "Today is Always Monday" when it comes to your New Year's Resolutions. Of course, he is talking about your diet & health goals, but I was thinking this can easily apply to your business practices as well.

Did you forget to enter your receipt into QuickBooks right away? Did you put off filing the paperwork and it is piling up on your desk? Are you behind on your blog entries? Don't worry about it ... make today your new Monday and start fresh. Each day as a small business owner we take on so much I feel it is important not to be too hard on ourselves regarding the small things, but to keep trying to constantly improve ourselves and our business practices.

See Dr. Beckerman on KGW Portland!