Read Time: 2 minutes
If you happen to find yourself in a tricky situation wherein you have all the passion and determination to flourish your small business to great extents but do not have enough funds to support your dreams, then find yourself amongst many others facing a similar situation.
The two vital ingredients for any business to grow are: Money and Innovative Ideas! Thinking of innovative ideas is entirely up to you, and we leave it on you; however, in this article, we will show you how to make and save money wisely for your business to grow.
1. Learn to negotiate
Never make a mistake of considering your vendor’s amount to be the final amount that you need to pay. Remember that your vendor will be ready to lower the cost than lose a customer for good. Cultivate the art of negotiating as it will help you in saving a considerable amount of money from your operational costs.
2. Be environmentally friendly
By being eco-friendly, you will not only be doing a big favor to our beautiful planet but also to yourself. Learn to inhibit and develop a working culture that fosters reusing and saving resources. As, for instance, learn to turn off the equipment when not in use, replace your printer with the one that prints on both sides of the paper, use recyclable stationeries and so forth. By doing so, not only will you be saving energy but also costs.
3. Start writing
It is not uncommon to see small sized entrepreneurs to write relevant articles online to mark their presence in the online world. Writing blogs or press releases help you gain trustworthiness and credibility in your business. Writing for online blogs is usually done at very low cost, and it sure is a brilliant way to get the ball rolling.
4. Use local business directories
Getting a free listing in local business directory is a brilliant marketing tactic from monetarily point of view. It is a great way to improve your SEO ranking in a cost-effective manner. Credible local business directories do an excellent job in organic search rankings . For example a business which based in Australia that cannot get their sites ranked high for a specific term in the global platform can appear on local business directory of Australia to rank better for a particular term.
5. Take feedbacks and criticism positively
As a small business owner, you must stay open to receiving honest feedbacks from your current customers. Learn to take criticism with a happy heart as it will help you do better in your future endeavors. A good business owner will want to stay productive and save money. Getting constant reviews from customers will help in cutting extra expenditure. Ask for customer reviews on online portals such as Twitter, LinkedIn, Local Business Directory, and alike. Take those reviews seriously and grow.
6. Schedule meetings only when required
This tip comes in handy for all small businesses. It is true that you cannot avoid conducting meetings but you can sure alter the way you deal with it. Meetings usually end up in waste of time and loss of money because your employees are not working in that time-frame. Therefore, it is strongly recommended that you limit the number of people attending those meetings. Make sure that your employees’ time is well utilized.
7. Get interns!
Hire interns from marketing schools and utilize their skills to build a marketing campaign for your business. Hiring interns is better than employing full time employees since it helps to cut down a lot of expenses including exorbitant salaries to benefits of office space.
About the Author:
This post is written by Ella Rich. She is an advertising expert, who is keen on learning and sharing her knowledge about free local online business directories in Australia and Internet marketing at My Business Central.