I run my home business on a shoe-string. Here are 3 ways that I save money in my home business.
It's not hard to run my home business on a shoe-string. As a freelance writer, there isn't a whole lot for me to spend money on.?Even so, I do have outlays that can dig into my bottom line, from the need for a good computer that can handle my workload to reliable high-speed Internet (expensive in my local area).
As I look for ways to save money in my home business, here are 3 strategies I employ:
1. Video Conferencing and Telephone Meetings
As a freelancer, remote work is a big part of my day. Many of my clients want to have meetings, rather than just handle things through email. Tools like Blue Jeans Conferencing Services make it easy to have video meetings and trainings with clients. But Blue Jeans isn't the only tool available. There are a number of ways to use technology to have meetings. If you just need audio, there are dial-in conferencing services that can help you connect. At the very least, you can use services like Skype and Google Hangouts to talk with clients and partners.
These types of interactions cut back on the costs of travel to meet in person, and they also make it easy to expand your client base. Thanks to these tools, I work with clients from Israel to the UK to Canada — all from my home base in Idaho and all without spending a ton of money.
2. Outsourcing
One of the biggest time sucks I used to experience was managing social media for my home business. Then I hired a virtual assistant and now she schedules most of my social media. This frees me up to focus on areas of my business that are more profitable, and the better use of my time has actually increased my bottom line.
Another way I save money in my home business by outsourcing is using sites like Fiverr?for some tasks. Fiverr was a great way for me to get low-cost bumpers for my video series offering online freelance writing tips. I've used Fiverr for other tasks, and I know fellow business owners who outsource podcast editing and other mundane?jobs to virtual assistants in other countries.
3. Run Your Business from Anywhere
Another great perk of my home business is that I don't have to be at home to manage it. I can run my home business from anywhere. I can use my tablet or smartphone to accomplish almost anything I need to do with my business, from invoicing clients to writing a blog post. As long as I have a data connection for my phone or a WiFi hotspot, I can do business from anywhere. This is a way to save money in my home business because it means I don't need to pay for a specific brick and mortar location, and it also means that I don't have to miss out on getting things done just because I'm not at home.
There are many ways to save money in your home business, from using the tools that technology offers us to connect around the world to finding the right tax breaks for your home business, what are some of the ways you save money in your home business?
Great tips! I try to keep my business expenses as low as I can. I do know that it’s worth it to pay for good help in the form of my VA and my tech guy though. They both do great work!
It’s true that paying for good people is usually very worth it!
I think the most obvious one is business attire. I was thrilled to get a bunch of t-shirts at FinCon because my old ones are starting to wear out.
The only downside to both of us being home all day? We use way more water and toilet paper than people who have access to an employer’s toilets all day. I know that’s a weird thought, but there it is.
Ha! I didn’t even think about the toilet issue 😉 But I agree that it’s nice to not have to worry as much about wardrobe. I have a few things I wear for special occasions and videos, but not nearly what I had when I worked for “the man.”