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Running a Business on a by Rozey Gean Operating a business is hard enough these days...without having to worry about where the funds are coming from. If you’re a seasonal worker, such as lawn servicing or snow shoveling - you realize the necessity of making the almighty dollar stretch through your slow periods. This is where "running a business on a shoe-string budget" will become your most valued treasure in learning how to make that almighty dollar stretch even farther. Of course, we can’t forget the concept of "spending money wisely" when we do have it, as a feature we should all practice throughout the entire year. Conducting our business in this fashion, when business IS good, will only help to alleviate some of the tension suffered later on when things get slower. With larger corporations, the reduction of operating expenses seems to be one of the lessor practices (or at least not as common), however, to the small home-based entrepreneur it could mean the difference of being in business or going out of business. To help alleviate the need to lay off employees, or to become a seasonal operator, the following "cost reduction" methods can be utilized on a constant basis to help lesson a stressful budget situation. Mentor -vs- Business
Coach Now, I realize it’s hard for some to ask others for help. We’re afraid if we do, it will make us look weak or inexperienced. Therefore, instead of asking for the help we need (and thereby achieving a solution that much sooner), we waste valuable business time making the wrong business decisions. A qualified mentor is somebody that has already experienced the same sort of thing you are trying to accomplish. He or she doesn’t necessarily need to be in the same line of business as you. However, their experience in business should have started on the same level as yours started out on, experienced the same obstacles, and still went on to be a successful business Entrepreneur. Your mentor would be able to "teach you the ropes," so you wouldn’t have to learn by your own mistakes. And, believe it or not, a mentor feels really good about being able to "toot their own horn." Most are glad to help a novice who’s just starting out. Blessed are the mentors, for he or she, is someone you can rely on when the day went badly; or you need to discuss a new approach to a product release; or perhaps a problem with a dissatisfied customer. And for heaven’s sake, "let your mentor know how much you appreciate them"! If you’re still too shy to ask someone in particular to be your mentor, I advise you to gain membership to your Local Chamber of Commerce or to another Community group. Networking is a common practice within these organizations, and you will increase contact with other small business owners. You may be more at ease taking this approach since you would gain the necessary help you need, and you aren’t directly asking one particular person for the supervision you desire. Marketing Methods to
Help Reduce Your Expenses: Trade advertising services
with your local merchants: Offer typing in
exchange for your paper products: Most print shops have extra paper (previously ordered for some other job and now have left-over) - which you need and could trade your skills in exchange for the paper. It would be up both parties to figure out a conceivable amount for the exchange, since only you know what you services are worth, and only he knows what he paid for the stock. Use family as part-time
employees: For instance, ALL children love to help! I’ve compensated my nieces and nephews to load a Ryder Truck with boxes. The boxes were only lightweight portfolios, but to hire a moving van with workers, I would have spent entirely too much money to transport the goods. Instead, I offered a fair wage to my family members - which I charged back to the client as part of the service. Additionally, I’ve gathered aunts and uncles around a table to help fold client newsletters! They had a great time meeting and we had the work done in less than 8 hours time. Charged it back to the customer, with a markup and made an additional profit as well! Embroider White
T-shirts with your company logo or message Make Buttons that
display the message "Ask Me About My Web Site!"
Make the Best out of
Junk Mail: This idea also works for "old letterhead" or outdated sales materials of your own. You could even go around to the local print shops (they throw away scraps that are only printed on one side) and ask them to save you a box or two each month. In this manner, you can utilize their paper scraps to make your office scratch pads. You can also print on your freebie pads with a program like Microsoft Publisher, and make instant "telephone message pads," for your gals to write down all those important money-making telephone messages! Use Your Business
Cards, as a Discount Card: REMEMBER: "Always carry your business cards whenever you may travel!" Rozey has been working with a home-based business for the previous 13 years, and publishes a "How To" Newsletter for small business owners. Prior to her Web Site inception date, she moderated the "Women in Business" Newsgroup for BizyNet, an International network of businesses and professionals and had her work published in the 1994 Publication of "Free Electronic Networks, by William J. Shefski". Currently, she mentors others to help them concentrate on effective telemarketing skills through "Women Entrepreneurs Online Network" at http://www.weon.com Rozey Gean |
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