Running your own business can be one of the most rewarding things in the world and it can be even better when you can do it from your own home. Haven’t you always wanted to work from home? You can wake up a little later in the mornings and have your breakfast at your desk while you get started on the day ahead.
Of course, running a business does not come without its costs and many people struggle to make ends meet even when working from their own home. The good news is that there are some great ways that you can cut the costs of your small home business without having to do too much work.
In this article, we are going to give you some of our best tips to help you get started with this. We’ll talk you through everything from having meetings over video call software with your clients to using freelancers for your staff. Make sure to keep reading if you’d like to find out more.
Talk To Your Suppliers
If you want to cut costs on your home business, then you need to think about the suppliers that you are using not only for the materials you use but also for your energy and internet access. Are you spending extra money to have a dedicated WIFI provider for your home business when you could be using the WIFI in your home if it stretched a little more to your garage? You might be able to get a booster that allows you to access this WIFI from another room in the house and save money on this bill.
When talking to your suppliers, you should also try to discuss your energy prices. You will likely be using the same energy that you use in your home, but it is possible to save money on this in the long run. Think about asking for a reduction, say you are going to switch providers and see what they say. You might end up getting a much lower price for these services and you can cut costs on your business.
Many people are afraid to talk to their suppliers, but it can actually be very beneficial if you make the changes now. You could save valuable dollars that you could use to buy some more materials or try some new marketing strategies so make sure to consider this. Get in touch with your suppliers today and make some changes that will benefit both your business account and your personal funds as this is your home after all.
Use Freelancers
Many people who run home businesses think that they need to hire staff that either come to the home office or work remotely. This is only the case if you really need an extra hand as you could end up committing to them working full time even when you don’t yet have the business. Many people go ahead and hire people right away but then regret it further down the line when they are spending too much money.
To get around this and save some money in your home business, we suggest that you use freelancers in order to get the job done. Yes, freelancers will cost a little more off the bat as you will need to only pay them for the job. Of course, this will save you money in the long run when you don’t need any help and you can spend this money on your business.
You can find plenty of freelancers online so make sure to have a look at this and see if you can save some money on your business this way. Whether you need a web developer or a copywriter, there is a freelancer out there willing to do the job and they probably have some great experience that they can offer at the same time.
Try Solar Power
If you are sick of all of the energy that your small business is using for your equipment and day-to-day operations, you might want to think about making the switch to solar power. Solar power is becoming an increasingly popular option in California and other states that have plenty of sun year-round. If you live in Vacaville, for example, a quick search online for the best solar company in Vacaville will provide you with plenty of options.
Semper Solaris offers solar panel installation in Vacaville which you can have installed in no time at all. If you are trying to save money on your home business, then you will find that the solar panel costs in Vacaville and other cities in CA are worth it because you will save money in the long run. Your energy bills will be greatly reduced, and you’ll be doing your part for the environment.
Use Your Smartphone
Many business owners feel like they need to have a landline to look professional, but this is not entirely true. Many people don’t mind calling a mobile number in 2019 as this is something which they are much more used to. This means that you don’t need to pay for a landline that is specifically for your business, you can either give out your personal phone number or invest in a business smartphone that you can use. This will be much cheaper throughout the course of the year and will help you to have more money to spend on really growing your business.
With your smartphone, you can do much more than just receive calls. You can call clients, call around your local area, do quick searches and send emails to clients when you are out and about. Many business owners enjoy using their smartphone for their home business as they typically are working all of the time. Of course, if you want to keep a good work/life balance then you should maybe try to avoid this.
Its time to ditch the landline and use your smartphone for your home business. This way, you will cut costs and be more free to move around.
Try Skype Meetings
When you work from home, it can often be tricky to have meetings with clients. Will they come to your home office? Will your kids be around causing a distraction and making you look unprofessional? Do they have an office you can go to? This can often be a big issue for people who are running a business from home and so they need to look for alternatives.
Many people turn to having meetings in coffee shops or other public places. Not only can this take extra time out of your day, but it can cost a lot on travel and spending money when you are in the coffee shop. The good news is that there is a way to still have your important meetings without having to head into town every few days – Skype.
With Skype, you can have video calls with your clients and other people in your team at the same time. Skype meetings are becoming much more popular as the years go on and more people are working from home. This can be especially useful if you have some team members who work in a different state and cannot make it to the local coffee shop as well as having international clients. Make sure to consider Skype for your business and you will cut costs in no time at all.
Look After Your Equipment
One of the biggest issues that you might face when it comes to paying the bills for your home business is the equipment that you have. If you have all of your equipment just lying around your home then you are putting it at risk of being damaged or broken, This will have a major impact on the running of your business and will cost you a lot to replace.
This is why we suggest that you look after your equipment as well as you can and get it serviced if you think that it could use it. This is your equipment that you are relying on to keep your business running so make sure not to neglect it.
If you have any kids in your home, then you should make sure that you keep all of your equipment in a room that is locked away. This will make a huge difference to both the safety of your kids and the equipment, saving you money in the long run.
Use Social Media
Many people believe that they need a lot of money to market their business properly. There are a lot of rumours about marketing that are simply not true, and it is important that you understand basic marketing principles and do your research if you want to be able to grow your business and get some new clients. One of the best ways to market your business in 2019 is to use social media channels and the great thing about these is that they are free to use. You can simply set up a social channel for your business and get your friends and family to spread the word.
The great thing about social media marketing is that it is free, but you can do even more by adding a small budget and running some ads. You can find plenty of information about how to run a Facebook Ad online so make sure to have a look at this.
Social media marketing is not only the cheaper method for your home business but it also one of the most effective methods that you can use in 2019.
Go Paperless
Our final tip for those who want to cut costs on their home business is to try to go paperless. Many companies not only waste money on printing out documents every week but they also are harming the environment when they don’t need to. Having a paperless office can make things much easier to deal with and it can be perfect for those who are working from home and don’t have a lot of space to keep things.
While you might want to print out the odd thing and take some notes, have all of your records on your computer and this should make a big difference to your outgoings. You won’t need to pay for a printer, ink or paper which can all add up to quite a lot if you aren’t careful. Many businesses waste money on ink every year and paper is much more expensive to buy than you might think.
You should be trying to reduce your waste as much as possible to help the environment as it is already in a very bad condition. Wasting paper on documents that you are just going to print out again is not going to get you anywhere. Try a paperless office if you want to save money on your home business and you will never look back.
Final Verdict
If you are planning on running a small business from your home in the near future, then you should make sure to save money where you can. Many people find it hard to save money when they are already saving on the office space by having the business located on their own property. Of course, there are many changes that you can make to really give your bank account a boost and give you more money to spend on growing your business.
Think carefully about the energy that you are using in your home office and consider switching to solar power and making use of the Californian sun. You should also try some social media marketing and don’t forget to get rid of that landline if you want to save some money.
These steps are really quite simple, but they can go a long way if you put the effort in. Start saving money on your home business today and it will be booming in no time at all.
