There’s a lot of reasons why we become entrepreneurs: To help others, challenge ourselves and build a lifestyle we love.
We’re creative, passionate and we’re always looking for ways to grow our business and increase our revenue.
But we’re not always passionate about—or good at—managing our expenses. And if you’re not paying attention to the expense side of the equation, your business could be leaking money.
It’s one of worst feelings in business, knowing that you’re bringing in revenue, but clearing very little profit. (I’ve been there!) 🙁
So as you look at your year-end finances, I want to help give your 2018 profits a boost with 5 tips that will help you save REAL money in your business.
Each tip will only take a few minutes of your time, but when implemented, may save you hundreds—or even thousands—of dollars a year!
Check it out in the video below. I’ve also included some bonus tips to help you sharpen your negotiating skills, so you can get more of what you want for less money.
Who knows, maybe you can save enough to pay for your holiday gifts this year—or double your marketing efforts next year! 🙂
Check out these quick cost reduction strategies and money saving tips:
Consolidate where possible. Are you paying for multiple tools that do a very similar thing? Get rid of anything that is redundant. This tip saved my business $3,600 a year! More at 4:58.
Always ask for a discount—but always let them make the first offer. If you ask for a 10% discount and they would have offered 15 or 20%, you’ve lost. Silence is your friend! Learn how this saved my business $550 at 6:56.
Be willing to walk away. In a negotiation, the person who has “walkaway power” always wins. The key is that you really DO have to be willing to walk away. If this is hard for you, just remember this mantra that Tony Robbins used to say to me: “A once in a lifetime opportunity comes around once every two weeks.” Get more tips to improve your negotiation skills at 12:56.
How will you put these tips into action to save money in your business?
Please share! And if you have other great money-saving tips—let me know in the comments!
Great financial tips and concepts.
I am so glad i’m not the only one who’s done this (double paid for forgotten subscriptions, and multiple software products doing essentially the same thing).