Setting up a home office? Starting a small business? It’s a real balancing act of money coming in vs. money going out, so you probably want to cut costs wherever you can. Here are a few suggestions and money-saving strategies that might be helpful as you start your new business.
1. Invest in a Yellow Pages listing. A display ad is costly and not particularly necessary. Figure out an eye-catching phrase and buy one additional line of text to go below your company listing.
2. Shop around for office supplies and buy in bulk. This will save you time as well as money.
3. Think carefully before purchasing office furniture, equipment, and electronics. Don’t spend money on items or features you’ll never use. Do some research before you shop, and know the features you’re looking for and how to spot top quality items.
4. Use your computer to design your own letterhead.
5. You can have 100 business cards made for as little as $20 at copy stores.
6. If money is tight, consider leasing office furniture or equipment. Or buy used equipment from other businesses.
7. If you plan to send out bulk mailings, find out if you’re eligible for business or bulk discounts.
8. Study your phone bills and determine where and what kind of phone calls your business requires. Shop around among phone companies, asking specifically for promotions and deals for small businesses.
9. Look for opportunities for free publicity. Attend meetings of professional groups related to your business. Send press releases to local newspapers, radio stations or cable TV stations, detailing the unusual or special aspects of your business. Volunteer your services at community functions. Always carry your business cards!
10. Find out about federal, state, or local government programs related to small business. Many offer free business counseling and other services.