One of the most challenging aspects of the current economic downturn is learning how to operate lean and mean, without harming your business in the long run. The good news is that many businesses are rising to the challenge and you can learn from their success. Small Business Trends has compiled 75 of their readers most “Outrageously Creative Tips for Saving Money & Growing Your Business.”
Here are some of their outrageously successful ideas for saving money:
- Get Free Expert Advice: Mike Michalowicz, The Toilet Paper Entrepreneur, said he saved money on legal and accounting work by visiting local colleges and speaking to professors who taught the appropriate subjects. In return for the legal and accounting help, he says he agreed to be a case study for their classes.
- Ask: Heather Pauls of HPConsulting says it’s that simple, and you’ll never get anything if you don’t ask. “Call all of the companies you do regular business with. Ask them to lower their rates for services and products.” She says you’ll be amazed by the response.
- Freeze Your Own Spending: Jared Lyda, of Fire and Motion, says owners need to take one for the team by cutting back on personal spending and salary for a set period of time. Use that money to fund new supplies, employee performance rewards, pay bills and more.
Take The Tip:
Get more ideas from Small Business Trends by visiting http://smallbiztrends.com.
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