First-time business owners often find that their business expenses far outweigh their income. Particularly in the early days of starting a business - this is to be expected. Rather than going into debt and spending money you don't have, consider cutting some expenses until you're in the black. Here are seven business expenses you can cut today:
#1: Software. Many software products including word processing, spreadsheets, database software and more are available for free. The term for this free software is Open Source or Freeware, and quite often these 'free' products are exceptional. The reason they are so good because they have many people constantly working to improve them. The drawback to many open source products is that there isn't the customer support available that you'd find with a commercial software company. However, the general protocol when you find a bug in the software is to advise the developers via email. Chances are, there will be a fix produced in a matter of days.
#2: Business cards. There is absolutely no reason to pay for business cards when organizations like Vista Print offer them for free. You have to register with the company to get your free cards but it is a small price to pay. If you want your cards to be more detailed, consider making them yourself. You can find business card templates online or via inexpensive software packages, and you can buy high-quality business card paper at any office supply store.
#3: Marketing. Direct mail marketing can be extremely expensive but email marketing is virtually free. All you need is an email list. If you haven't had time to build your opt-in list, you can often borrow, rent or purchase a list from local business organizations or commercial companies. Be aware that when you purchase a list, they can be expensive and the information they give you might not be accurate, which means you're paying money for bounce backs. The best, and least expensive option, is to build your opt-in list first with a simple sign-up form and a freebie incentive.
#4: Do your own copywriting. Outsourcing your copywriting can be expensive, especially in the beginning when you likely need a lot of articles, sales copy and copy products for your business. Copywriting may not be something that you want to do but it is something that you can do. When writing articles, write from the heart and write like you're explaining something to a friend. When you're writing sales copy, write to solve your customers' problems. Identify those problems and show them how to solve them. Don't forget when writing sales copy to include a call to action. Tell them what you want them to do - buy your product!
#5: Office equipment. You may want that new $5000 computer but do you really need it? Before you run out and spend a fortune on new office equipment, make do with what you have for a while. Once you begin to show a profit, reward your hard work with a new desk chair, computer or printer.
#6: Websites. Number one talked-about open source software. There are also free web hosting and web design products and services available. In fact, Google have just opened up a free hosting program and there are several free website design products available. This means there is no need to hire an expert or pay for hosting. However, if you want a little extra help or a template there are economical options available - you don't have to spend thousands of dollars on a website.
#7: Accounting and bookkeeping tasks. While it may not be fun to handle your bookkeeping, you can do it yourself and save money hiring a bookkeeper. You may still want to hire an accountant at the end of the year to do your taxes, however if you've been taking care of your bookkeeping, keeping good records, and paying your taxes on a quarterly basis, doing your own taxes is certainly possible.
Cutting expenses in the beginning can pay off tremendously in the long run. Plus, you'll be learning valuable skills as a business owner, copywriter, web designer, marketer and accountant!
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Legitimate business?
By: Gwynneth Bell | 27-08-2008
We would like to know how we can find out if villa getaways, ltd. Is a legitimate business. Thanks for your help!
Gwynneth b
Connect broadband to dialup internet server possible ??
By: sangram | 27-08-2008
I have d?link dp300 internet server (internet sharer) and adsl broadband connection which have zyxel p-600 router. I want to connect my router with internet server is this possible? My d?link dp300 internet server made for dialup connection sharing which have 2 DB9 connectors And zyxel router have rj45 conector it is possible to attach rj45 to DB9 how Please tell me
What is the easiest way to start your own business ...
By: beedeeswifey | 26-08-2008
What is the easiest way to start your own business when its only you working and you just want to tax yourself?
From crappy job to dream career
By: fall03grad | 26-08-2008
I am a 28 year old college graduate. I have a B.A. degree in History of all things. I am currently working a crappy job as a teachers aide at an elementary school that I absolutely hate.It is completely thankless and the aides at my school (degreed or not) are treated like complete idiots and underlings. My true calling is the fashion industry. I have been designing clothes since I was 8 years old. I know I should have maybe went to school for fashion merchandising,but my dream to become a high end buyer with my own line was always seen by my parents as just that.....a dream so to make them happy I stuck with the norm. As of now, I plan to start graduate school in the Spring for my M.B.A. to develop my business savvy. I read that this was a useful tool to have when one wants to become a buyer and own their own company. My talents as far as fashion trend forecasting, designing, and just complete style were God given. I am ready to live my dream. Does anyone have any advice on other things I should do to push forward to this career? Am I too old to start over?
I am checking out how creditable Is John Beck's ...
By: nandenis8 | 26-08-2008
I am checking out how creditable Is John Beck's Free & Clear Real Estate System
Can anyone help me with this? The board of ...
By: grace | 26-08-2008
Can anyone help me with this?
The board of trustees of a local church is concerned about the internal accounting
controls pertaining to the offering collections made at weekly services. They ask you to
serve on a three-person audit team with the internal auditor of the university and a CPA
who has just joined the church. At a meeting of the audit team and the board of trustees
you learn the following.
1. The church?s board of trustees has delegated responsibility for the financial management
and audit of the financial records to the finance committee. This group prepares
the annual budget and approves major disbursements but is not involved in collections
or recordkeeping. No audit has been made in recent years because the same
trusted employee has kept church records and served as financial secretary for 15
years. The church does not carry any fidelity insurance.
2. The collection at the weekly service is taken by a team of ushers who volunteer to
serve for 1 month. The ushers take the collection plates to a basement office at the
rear of the church. They hand their plates to the head usher and return to the church
service. After all plates have been turned in, the head usher counts the cash received.
The head usher then places the cash in the church safe along with a notation of the
amount counted. The head usher volunteers to serve for 3 months.
3. The next morning the financial secretary opens the safe and recounts the collection.
The secretary withholds $150?$200 in cash, depending on the cash expenditures expected
for the week, and deposits the remainder of the collections in the bank. To facilitate
the deposit, church members who contribute by check are asked to make their
checks payable to ?Cash.?
4. Each month the financial secretary reconciles the bank statement and submits a copy
of the reconciliation to the board of trustees. The reconciliations have rarely contained
any bank errors and have never shown any errors per books.
Instructions
(a) Indicate the weaknesses in internal accounting control in the handling of collections.
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