10 Ways to Improve Your Bottom Line : When running a business even one from home it pays to use different methods for saving money in all business dealings. I want to share some of the most dynamite ideas to help improve you bottom line. After all a shoestring budget has to go a lot further these days.
1) Bartering for goods and services:
You can see evidence of this making a comeback these days. There are coupled of barter networks on line that may be helpful. You might even have a local barter network in your area. It would allow you to list what you are willing to trade goods or services. I set up a deal with one of my clients that is a lawyer where for every 5 searches I do one is free and goes to building up hours of billable time so that if I need a legal advice or contract drawn up it is covered.
2) Networking association:
When you join an association and go to it’s functions you can develop new clients but also network with folks that do similar businesses in order for you to get referral business for an area that you work in and they can get the same from you in their area. In other words say I ask you if you cover so and so county for searching…you can have a great outlet for sending business to an associate and they will do the same for you, that way cutting down marketing etc.
3) Buy Wholesale:
Look in the phone book there should be a place listing all wholesalers in the area. They can include items like paper for your fax, pens and other office supplies. Depending on your business this is a great way to buy product at a steeper discount and increase your profit margin.
4) The Freebies:
When you start your business and say are looking for graphics for designing a logo or need even office supplies, there are on line channels that give away many items so this should be look into for possible savings too.
5) Lease items:
Also to help with costs look at big ticket items like cars and see if leasing them would be better. In the long run it may save just from not having to worry about mechanical issues. Other smaller items can be leased too, office space, office equipment and even a computer if necessary.
6) Auctions and closeouts:
Another resource for business equipment is to look on auction sites to see if you can bid on a good piece of equipment without paying retail. I would also suggest that you go into stores and ask for floor models and or returns that have to be priced lower cause after someone got the item home changed his or her mind and sent it back. Because it was opened it has to be marked down, so it doesn’t necessarily mean it is defective.
7) Plan your expenses:
As you build a business and know that you’ll need to make a capital expenditure you can watch for sales and other cheaper pricing.
8) Garage sales:
If your equipment does not have to be new then by all means see what you can dig up at a garage sale because some other home business may need to upgrade and may give you an opportunity for a good deal.
I’ve seen this happen everywhere even in supermarkets on food. So when you buy office equipment do not hesitate to negotiate for a lower price. The worst that can happen is you pay what they were asking..if they agree then hey good deal.
10) Searching for better deals:
When your in business a long time it can be very easy to be come complacent with the suppliers that you have. Do not stop looking for new ones that may offer better deals. This will give you a negotiating tool to use with present ones as well. If they can not meet the new price you can go elsewhere.
Michael Scott is a title searcher, author and educator for work at home individuals and has a blog about title searching at http://www.titlesearchbusinesstraining.com