Running a Low-Cost Business

Having been in business for nearly three years now I have discovered a few simple things to help reduce the costs to my business. Some of these simple tips have given me the freedom to do other things with my money AND my time.
1. Utilize Resources
Having one of the most talented web designers I have ever met as a close friend from college saved me thousands in web design fees. Kevin Krefting of Krefting, LLC has done most of my web work for a fraction of the cost of hiring a design company to do the work. I also employed the services of a my very talented sister, Aubrey Rager, to do most of my graphic design work and having a wife in Marketing/Advertising has saved me a bundle in that arena. Now I know that not everyone has the luxury of having those people in their toolbox but don’t be afraid to reach out to talented friends and family members to get things done!
2. Find Free Help
Your local SBA is packed full of very talented business minds that are just dying to bestow their life lessons on other people that are taking the leap into business. Attend free seminars, email trade associations, and you might be surprised how willing others in your industry might be willing to help you learn the ropes.
3. Swap Services
Legal fees are expensive. Office space is a large cost. Printing isn’t cheap. All of these services that you use have needs themselves. Perhaps you can get a significant break on your cleaning service by offing to clean other buildings for your landlord. Maybe your lawyer could use some graphic design work in exchange for some contract work or maybe your printer could use some IT help. Bottom line is don’t be afraid to ask and you might be surprised to find out how easily you can cut your costs down by swapping your products or services to others that you rely on.
4. Get Testimonials
Get great testimonials from your clients and, with their permission, share them on your website, blog and brochures. It’s always best to ask a client for their kind words immediately after you have satisfied their needs. Photos to go along with your testimonial can give it some pop!
5. Get Support From The Businesses You Use
You banker, lawyer, real estate agent, broker, and insurance agent have a plethora of contacts. Ask them to help spread the word about your company. After all, the more your business grows, the more help you will need from them to keep it going!

Start Small. Think Big. Grow Fast.

Gabriel

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~ by gabrielglynn on November 9, 2009.