Small Home Business: Reducing Costs For Small Home Business Owners

Kim Beardsmore
 


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One of the advantages of conducting your own small business is you can significantly reduce your costs by controlling a few simple processes. Here are ten useful ways to reduce your business costs.

1. Network With Non Competing Businesses
This can present a fantastic opportunity for many businesses. Try networking your business with other business owners. Of course, you would not approach someone with business that is in direct competition with yours! There may be several non-competing businesses that appeal to a similar market as your business. For example weight loss, lingerie and child care businesses all appeal to women and do not compete with one another. You may be able to trade leads and mailing lists.

Make a list of all the possible business alliances in your area, work out a win-win arrangement where both businesses benefit, and systematically work through your list. This will cut down on your marketing and advertising costs.

2. Wholesale/Bulk
You'll save money buying your business supplies in bulk quantities. You could get a membership at a wholesale warehouse or buy them through a mail order or internet wholesaler. Buy the supplies you are always running out of.

3. Free Stuff
You should try visiting the thousands of freebie sites on the internet before buying your business supplies. You can find free software, graphics, backgrounds, online business services and business cards to mention a few items. There are many online sites providing freebies, and to get you started visit www.freeonline.com. au and www.ifree.com. au

4. Borrow/Rent
Have you ever purchased business equipment you only needed for a small period of time? You could have just borrowed the equipment from someone else or rented the equipment from a business equipment supplier. A quick search through the Yellow Pages or on the internet will give you a number of places that rent office equipment.

5. Online/Offline Auctions
You can find lower prices on business supplies and equipment at online and offline auctions. I'm not saying all the time, but before you go pay retail for these items try bidding on them first. If you are not able to visit a local auction, you may find online auctions such as www.ebay.com useful.

6. Plan Ahead
Make a list of business supplies or equipment you'll need in the future. Keep an eye out for stores that have big stock clearing sales. Purchase the supplies when they go on sale before you need them.

7. Used Stuff
If your business equipment and supplies don't need to be new, buy them used. You can find used items at garage sales. Keep an eye out in the papers for liquidation sales.

8. Negotiate
You should always try negotiate a lower price for any business equipment or supplies, especially if you are paying cash. It costs the retailer to operate a merchant account for credit cards and often they willing reduce the price for a cash sale. It doesn't hurt to try. Pretend you are talking to a salesman at a car lot.

9. Search
You can always be searching for new suppliers for your business supplies and equipment. Look for suppliers with lower prices and better quality. Don't just be satisfied with a few.

10. Office Upgrades
Many commercial businesses upgrade their information technology requirements every few years. When this happens offer to purchase the old equipment, which may be going to be scrapped in any case. It is likely your IT requirements are not as stringent and the ‘old’ system will still adequately run the software you need for your business. Keep an eye out for new office fit outs. When a tenant leaves a commercial building they may be required to removed their office fit out. Desks, chairs, partitions are just some of the useful home office items you may pick up for a penny!

© Kim Beardsmore

Kim is part of a network of home businesses operating across 60 countries. We urgently require people to join our expanding international team. If you are interested in earning extra income around your current schedule, we would like to hear from you. We provide full training and ongoing support to ensure your success. http://free2liv.com/?refid=csts-567887442

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