We all know cash flow is the lifeblood of any business. But have you ever thought how much money you’re needlessly wasting? Keep wasting that money and your business will suffer.
Let’s take 4 categories, Motoring, Everyday Expenses, entertaining and Staff Incentives. Now all businesses have expenses that fall into some of these categories, but most business do nothing to reduce those expenses.
Below are a few suggestions that can help you reduce the amount you’re wasting in each category:
Motoring – Most small businesses people pay too much for their car servicing and car repairs. When you take your car in for a service and they say extra work needs to be done. There’s no need to pay what they ask, you could use an online car repair auction and get a better price.
You know petrol and diesel prices are crazy, but what are you doing to reduce your cost? A simple solution worth trying is to use the free app from DriveGain that helps you save fuel while you’re driving.
Everyday expenses – If you’re not plugged into money saving sites, blogs and discount sites, how will you ever know when there’s an offer on something that you regularly buy?
The Money Saving Expert is one of the best money saving sites, netvouchercodes is one of the best discount sites and Totally Money Blogs one of the best money saving blogs. Plug into these sites and you’ll be kept up to date on a variety of everyday savings.
Entertaining – This is one of the easiest ones to overlook, yet one of the easiest to implement. Toptable and Taste Card have been going for years and if you’re not using them when you take your favourite customers out, you’re literally throwing money away when you’re entertaining.
Staff Incentives – Reward staff with something boring and it could backfire on you. However by using Groupon or Living Social you can reward staff with various expensive activities for a fraction of the normal cost.
So there you have it some easy ways to make your cash go further. Do you have any other money saving ideas that could help small businesses?