Penny Pinching Tips For Your Business
photo credit: swimparallel
Most entrepreneurs will tell you that skimping on pennies will add up after a while, and today in this economy…it really pay’s to be a penny pincher to the extreme. The more you save, the more you can bank for when you need it the most during slow times to offset your costs. Below are a few penny pinching ideas obtained from Entrepreneur.com for your business.
- Cut some costs when setting up your online store. Going online with your business doesn’t have to cost you an arm and a leg to get it going.
- Spread the word yourself. Yes…fancy advertising helps a great deal, but it is not needed to get the word out about your business. Pass out your own hand made flyers, hang up your own hand made signs and coupon offers.
- Buy recycled printer cartridges for your business.
- Buy used equipment and look for free software that meet your business needs.
- Use independent contractors.
- Hire your children for part time work.
- If you are near your suppliers, go and pick up your order yourself.
- Get at least 3 bid’s on everything before you make your final choice.
What penny pinching ideas can you share?
Donald on May 12th, 2009 2:24 am
“Hire your children for part time work. ”
I think that’s a particularly good on , Jaclyn. It’s a cost-effective strategy that ultimately incredibly beneficial for the kids (presuming, of course, they’re of a working age)
Dane Carlson on May 12th, 2009 9:53 am
The only problem with hiring your children is that they have to pay federal income tax at your tax rate, instead of at their own.
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