One of
primary concerns all small businesses have is saving money. When it's time to trim
fat, most look for one giant expense to decrease or eliminate in order to stay within budget. More often than not, it doesn't work that way.Most budgeting experts will tell you that re-evaluating your overall expenses and cutting each by just a bit will actually gain you more ground than doing without something major that you really need. Here are a few ideas of areas to look at and costs to reduce that can have a major impact on your overall profits.
1) Internet Access - Every online business owner must have access to
Web. But consider this. The market is so flooded with ISPs that you have a lot of room to dicker. Start by searching
Internet under keywords like "cheap internet access" or "discount isp" to bring up lists of possibilities. Then, do one of two things.
(a) Try some of these independent ISPs. Smaller companies can have high quality service and support just like
"big boys". One business owner I know recently switched from Prodigy ($21.95/mth) to a smaller ISP that only charges $12.50/mth with no contracts. She actually liked
new provider better and it costs her about half as much. [Savings of $113.40 per year.]
(b) Renegotiate with your existing ISP. Most larger ISPs know you have a choice of a thousand other companies. Because of this, they are normally more than willing to renegotiate your costs. Be honest. Tell them you are a small business owner and you need to cut expenses. Explain that you've been pleased with their service but will be forced to go with someone else if some sort of arrangement isn't worked out. Another friend of mine did this and received 6 months free! Most will offer 2-3 months free and/or a discount with an annual agreement. NOTE: When you approach your ISP, be fully prepared to switch to someone else if your offer is rejected. [Savings of $105.80 per year with 3 months free and reduced, annual rate.]
2) Switch From A Merchant Account To A Payment Service - If you have a low volume of credit card transactions, it might benefit you to switch from a merchant account to some sort of payment service like Pay Pal or ClickBank. Statement fees, monthly fees, discount percentages and
like can all add up to big money.