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6 Ways to Save your Company Money

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When you’re running a business, it can often feel like the expenses are endless. Saving money is always a welcome idea, and there are plenty of easy ways that you can do so.

DIY marketing

Rule number one of saving your business money is to do a bit of DIY marketing. Teach yourself about SEO and PPC to bring traffic to your site, and ensure that your content is creative and high quality. Use social media platforms to generate a buzz about your brand, and host webinars to create more impressions and extend your reach. Use tools such as Sprout Social or Buffer to manage your social accounts. You can also try Hubspot’s content tool (when you’ve run out of tasty content ideas)!

Improve your budgeting

If you want to save yourself money you’ve got to return to the budget and make improvements. Review your expenses, see if there’s any room for reductions or cuts. Review your suppliers and check if there are any better deals out there. To improve the financial health of your company, use high performing accounting software, or hire an accounting professional. For one of the best solutions out there, check out https://www.mneaccounting.co.uk/xero-accountant/.

Try free software

Take advantage of all the free software available to help you support the growth of your business. To boost traffic to your site, use free tools like ‘Google Analytics’ and ‘Answer The People’. Both tools can help you to perform keyword research and analysis, which will help you to improve your content. For email marketing, Mailchimp offers an attractive free package, allowing you to design creative campaigns, and automate your mail. Trello is a top project management tool which is perfect for using as a remote team. Other great free solutions include Freshdesk (a help desk tool) and Slack (a communication tool). All of these tools are ideal for working from home.

Outsource

Outsourcing is a flexible way to get support on your projects, without committing to permanent staff contracts. Areas that are well suited to outsourcing include graphic design, content and IT. Outsourcing your IT can help you to access 24/7 support; improve your security; and save your employees time. As a startup, it’s advisable to keep your team small, and only take on permanent staff when it’s absolutely necessary.

Waste Management

Improving your waste management can help your business go greener and save money too. Review your waste management processes, using lean principles, to determine where you could make improvements. Consider how you could reduce waste across every aspect of your company, from your supplies and resources to your office materials and working practices.

Lastly, when you are purchasing hardware and furniture, don’t hesitate to check out second hand items first. Used items are usually at least half the price, and used doesn’t mean these items won’t be up to standard! Return to your budget several times a year, to ensure that your financial health is on track.

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