As the owner of a small business, you may have embraced frugality as a guiding principle in the way you operate and grow. But how do you impress this value on your employees? How do you encourage your workers to be cost conscious without coming across as stingy and without hindering their ability to get the job done? Consider the following five tips:
Being a frugal entrepreneur does not mean being cheap. It has everything to do with being smart about how money gets spent. It’s not about doing without; it is about using the best tools available to get the job done and being able to avoid spending a small fortune. Fortunately, today’s small business owner lives in a world full of virtual tools that not only make it easier to run a successful business, but are also friendly to even the most challenged of business budgets.
Managing the front-end of a business is time consuming and often, it causes the back end to take a back seat. However, managing your money in smart and thoughtful ways can save you a small bundle every year. If you simply commit to keeping organized, these six tax strategies will help you make the most of our business’ income and manage your money intelligently:
If you have decided to use promotional products as part of your small business’ marketing strategy, there may be several questions running through your mind: Are my products relevant to my target demographic? How will I ensure even distribution and loyalty across all clients? What color should they be? But perhaps the most important challenge is finding a way to maximize profit margins while reducing the cost of promotional expenditures.