At one point or another of our childhood, we all had piggy banks to save coins or any extra pocket money we received. With that money, we bought a lot of stuff we wanted by ourselves. Those were proud moments to remember. Now, it’s time to be proud again. We are going to save some money from our business expenses, to our ‘virtual piggy banks’ (aka, bank accounts J) so that we can spend that money to grow our business or treat ourselves.
Get Low-Cost Alternatives for Traditional Advertising
Advertisement is a necessity for businesses in every era. Methods can be different, from word of mouth to printing flyers or brochures to internet paid ads now-a-days. In 2019, Google ads revenue alone was $104 billion. Businesses are also spending on paid ads on Social Media, which in 2019 amounted to $89.9 billion.
Yes, it’s a necessity. But now there is an alternative to it. Most businesses use organic Search Engine Optimization (SEO) to grow their online presence instead of spending on just paid Ads. You can cut down on some of your paid ads cost and use SEO to optimize your business online presence. Also, a lot of Point of sale software including CellSmart POS is offering marketing messages option, at a very low cost, to your existing customers.
Hiring full-time employees and spending more on office expenses is not a good idea. In this digital era, you simply hire services of contractors or freelancers. For example, Cellphone store owners have to check their pending commissions from boost mobile, so instead of hiring a full-time employee to track it, they can simply hire the services of CellSmart Reconcile at a low cost.
Are you worried to keep track of your sales, inventory, and employee records for your multiple stores? And spending tons of dollars on hardware and extra employees to keep track of it and secure it? Now it’s very easy and cheap, because most of the leading Point of Sale software including CellSmart POS lives on Cloud. So, now you can manage your business from anywhere without hiring an extra employee or spending on new hardware.
Hire Smart People
One of the common mistakes businesses do is hiring experienced people instead of smart people. There is a myth that only experienced professionals can do a certain job as compared to a recent graduate. This increases the cost of running the business. A simple alternative is to hire smart people, which can be a recent graduate. Interview them, and test them. Surely, they will deliver what you need and learn more easily, to increase the revenue of your business. It will save you a lot of money, because you can just give them starters pay and get optimized results as of experienced professionals.
Get an Effective Software
Every business has to pay taxes, manage inventory, employee timings, pay and bonuses, sales records, marketing and many more items. All these tasks including many more can be done by getting effective business management software, which can also provide hardware along with software for your cellphone store, shoe store, bodega, restaurant, grocery store or any other retail business for that matter, at an affordable cost.
Now try these 5 small savings techniques and give your feedback to us. So, we can help you out more in the future.