10 Effective Ways To Reduce Your Business Costs

saul hyatt - business cost

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1. Barter

If you have a business, you should be bartering goods and services with other businesses. You should try to trade for something before you buy it. Barter deals usually require little or no money.

2. Network

Try networking your business with other businesses. You could trade leads or mailing lists. This will cut

down on your marketing and advertising costs. You may also try bartering goods and services with them.

3. Wholesale/Bulk

You’ll save money buying your business supplies in bulk quantities. You could get a membership at a

wholesale warehouse or buy them through a mail order wholesaler. Buy the supplies you are always

running out of.

4. Free Stuff

You should try visiting the thousands of freebie sites on the internet before buying your business supplies. You can find free software, graphics, backgrounds, online business services etc.

5. Borrow/Rent

Have you ever purchased business equipment you only needed for a small period? You could

have just borrowed the equipment from someone else or rented the equipment from a “rent-all” store.

6. Online/Offline Auctions

You can find lower prices on business supplies and equipment at online and offline auctions. I’m not

saying all the time, but before you go pay retail for these items try bidding on them first.

7. Plan Ahead

Make a list of business supplies or equipment you’ll need in the future. Keep an eye out for stores that

have big sales. Purchase the supplies when they go on sale before you need them.

8. Used Stuff

If  your business equipment and supplies don’t need to be new, buy them used. You can find used items

at yard and garage sales, used stores, used stuff for sale message boards and newsgroups etc.

9. Negotiate

You should always try negotiating a lower price for any business equipment or supplies. It does not hurt

to try. Pretend you are talking to a salesman at a car lot.

10. Search

You can always be searching for new suppliers for your business supplies and equipment. Look for

suppliers with lower prices and better quality. Do not just be satisfied with a few.

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