Twollow
  • Tech
    Must-Have Apps for Every Tech Lover

    5 Must-Have Apps for Every Tech Lover

    web development

    What To Know About Home Internet Plans

    Fax Machines For Modern Businesses

    The Benefits Of Fax Machines For Modern Businesses

    Modern Mobile UI

    4 Dos and Don’ts of Modern Mobile UI

    How to Choose the Right Laptop

    How to Choose the Right Laptop for You

    IT Support Services

    Why You Need IT Support Services

    Managed IT Services

    Managed IT Services vs. Outsourcing: Here’s What You Need to Know

    Digital Marketing Trends

    How To Scale Your IT Team On A Budget

    Benefits Of Cloud Print Management In The New Era Of Work

    4 Benefits Of Cloud Print Management In The New Era Of Work

  • Apps
    spotify fraud

    Shopify Fraud Prevention Tips Every E-Commerce Business Owner Should Know

    Nintendo 3DS emulator

    11 Best Nintendo 3DS emulator for PC, Windows & Android

    play and win online

    6 Best User-friendly APPs to Play Online Lottery

    Design Canva Templates

    How to Design Canva Templates

    link building service

    Hack someone’s Instagram Password with Easy Tricks

    Buying Instagram Followers

    The Pros and Cons of Buying Instagram Followers

    mobile app business plan

    How to Create a Perfect Mobile App Business Plan?

    app development

    Why Should You Consider React Native App Development?

    Instagram app

     What is Instagram Monitoring 

  • How To
    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

    design a business logo

    How to Design a Successful Business Logo

    How Live Streaming works

    How Live Streaming works – Everything You Need to Know

    live stream

    How to Live Stream on Twitch

    How Can Workout Make Life Easier

    How Can Workout Make Life Easier?

  • Business
    • All
    • Finance
    business exhibition

    Business Management: 4 Tips to Grow a Successful Business

    What You Should Do During a Bitcoin Bear Market

    A Decade of Bitcoin: The Past, Present, and Future

    Build a Strong and Efficient Team

    Pro Tips To Avoid Common Trade Show Pitfalls

    Bitcoin Trading Platforms

    How to Buy Bitcoin Canada Using Coinberry?

    Essentials Every Business Needs

    Essentials Every Business Needs

    smart transportation with Motorway intersection

    Businesses That Require Flexible Transport Solutions

    Business Operations

    4 Ways in Which an IT Consultant Could Assist Your Business Operations

    Positive Reputation in the Building Industry

    3 Tips for Building a Positive Reputation in the Building Industry

    Become a Successful Entrepreneur

    The Top 6 Things to Do Today to Become a Successful Entrepreneur

  • Marketing
    Facts to Increase Conversions

    Site Heatmaps: Facts to Increase Conversions

    Search Engine Optimization

    7 Ways that Search Engine Optimization Can Help Your Software as a Service Business

    SEO Outreach

    SEO Outreach: The Reason You Struggle and 5 Ways to Do It Better

    Engagement Rate

    How To Calculate Engagement Rate: Meaning & Formula

    Tips to Compose a Top-Notch Case Study

    10 Tips to Compose a Top-Notch Case Study

    online social media online community

    9 Tips to Drive Traffic to Your Blog from Social Media

    social media pictures

    5 Tips for Improving Your Social Media Pictures

    Best Youtube Advertising Strategies For Small Businesses

    7 Best Youtube Advertising Strategies For Small Businesses

    Social Media Marketing Tips For Beginners

    4 Social Media Marketing Tips For Beginners

  • General
    property investment

    How Property Taxes Work: Everything You Need to Know

    A construction worker injured his knee

    10 Practices to Avoid Construction Site Accidents and Injuries at Night

    AC

    9 Steps on How to Fix Water Dripping from AC Vent

    Funeral Director

    Why You Need a Funeral Director In Difficult Times

    thermostat

    Why Can’t Your Furnace Keep Up With The Thermostat?

    Stop Sign

    What are the Requirements and Regulations of a Stop Sign?

    Nursing Jobs

    Five Nursing Jobs That You Need to Know About

    Plumbing Emergency

    Four Ways to Tell if It’s a Plumbing Emergency

    Need Of A Website For Your Dental Practice

    Need Of A Website For Your Dental Practice

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
  • Tech
    Must-Have Apps for Every Tech Lover

    5 Must-Have Apps for Every Tech Lover

    web development

    What To Know About Home Internet Plans

    Fax Machines For Modern Businesses

    The Benefits Of Fax Machines For Modern Businesses

    Modern Mobile UI

    4 Dos and Don’ts of Modern Mobile UI

    How to Choose the Right Laptop

    How to Choose the Right Laptop for You

    IT Support Services

    Why You Need IT Support Services

    Managed IT Services

    Managed IT Services vs. Outsourcing: Here’s What You Need to Know

    Digital Marketing Trends

    How To Scale Your IT Team On A Budget

    Benefits Of Cloud Print Management In The New Era Of Work

    4 Benefits Of Cloud Print Management In The New Era Of Work

  • Apps
    spotify fraud

    Shopify Fraud Prevention Tips Every E-Commerce Business Owner Should Know

    Nintendo 3DS emulator

    11 Best Nintendo 3DS emulator for PC, Windows & Android

    play and win online

    6 Best User-friendly APPs to Play Online Lottery

    Design Canva Templates

    How to Design Canva Templates

    link building service

    Hack someone’s Instagram Password with Easy Tricks

    Buying Instagram Followers

    The Pros and Cons of Buying Instagram Followers

    mobile app business plan

    How to Create a Perfect Mobile App Business Plan?

    app development

    Why Should You Consider React Native App Development?

    Instagram app

     What is Instagram Monitoring 

  • How To
    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

    design a business logo

    How to Design a Successful Business Logo

    How Live Streaming works

    How Live Streaming works – Everything You Need to Know

    live stream

    How to Live Stream on Twitch

    How Can Workout Make Life Easier

    How Can Workout Make Life Easier?

  • Business
    • All
    • Finance
    business exhibition

    Business Management: 4 Tips to Grow a Successful Business

    What You Should Do During a Bitcoin Bear Market

    A Decade of Bitcoin: The Past, Present, and Future

    Build a Strong and Efficient Team

    Pro Tips To Avoid Common Trade Show Pitfalls

    Bitcoin Trading Platforms

    How to Buy Bitcoin Canada Using Coinberry?

    Essentials Every Business Needs

    Essentials Every Business Needs

    smart transportation with Motorway intersection

    Businesses That Require Flexible Transport Solutions

    Business Operations

    4 Ways in Which an IT Consultant Could Assist Your Business Operations

    Positive Reputation in the Building Industry

    3 Tips for Building a Positive Reputation in the Building Industry

    Become a Successful Entrepreneur

    The Top 6 Things to Do Today to Become a Successful Entrepreneur

  • Marketing
    Facts to Increase Conversions

    Site Heatmaps: Facts to Increase Conversions

    Search Engine Optimization

    7 Ways that Search Engine Optimization Can Help Your Software as a Service Business

    SEO Outreach

    SEO Outreach: The Reason You Struggle and 5 Ways to Do It Better

    Engagement Rate

    How To Calculate Engagement Rate: Meaning & Formula

    Tips to Compose a Top-Notch Case Study

    10 Tips to Compose a Top-Notch Case Study

    online social media online community

    9 Tips to Drive Traffic to Your Blog from Social Media

    social media pictures

    5 Tips for Improving Your Social Media Pictures

    Best Youtube Advertising Strategies For Small Businesses

    7 Best Youtube Advertising Strategies For Small Businesses

    Social Media Marketing Tips For Beginners

    4 Social Media Marketing Tips For Beginners

  • General
    property investment

    How Property Taxes Work: Everything You Need to Know

    A construction worker injured his knee

    10 Practices to Avoid Construction Site Accidents and Injuries at Night

    AC

    9 Steps on How to Fix Water Dripping from AC Vent

    Funeral Director

    Why You Need a Funeral Director In Difficult Times

    thermostat

    Why Can’t Your Furnace Keep Up With The Thermostat?

    Stop Sign

    What are the Requirements and Regulations of a Stop Sign?

    Nursing Jobs

    Five Nursing Jobs That You Need to Know About

    Plumbing Emergency

    Four Ways to Tell if It’s a Plumbing Emergency

    Need Of A Website For Your Dental Practice

    Need Of A Website For Your Dental Practice

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
Twollow
No Result
View All Result

How to Save Costs When Running a Business

by Tom Fogden
June 8, 2021 - Updated on September 16, 2021
0
How to Save Costs When Running a Business
Share on FacebookShare on Twitter

Whether you’re a successful business owner or you’re only starting out, it’s natural that you want to save costs as much as possible while not compromising on the potential success of your business. After all, running a company – even a small one – is all about earning money and not losing it. To do that, you need to pay close attention to your costs. And we’ve got some ideas for that.

Outsource – Pay Only for What You Need, When You Need It

Even if your business is your brain child, you are the founder and the principal stakeholder, you still need to accept the fact that success comes as a result of a team effort. You will not be able to do everything yourself.

One of the keys to success is knowing how and when to delegate, knowing how and when to handle tasks or duties yourself and how when to outsource those tasks or duties to a qualified person or agency.

Outsourcing, when done effectively, will free up your time to allow you to focus on other matters. It will also allow you to benefit from someone else’s skillset, experience and expertise.

Furthermore, when it comes to cutting costs, outsourcing allows you greater flexibility in your payroll. Instead of hiring an assistant or an employee, you can pay for only the services you need when and only when you need them.

Some of the tasks and duties you should consider outsourcing are:

  • Content creation and SEO (Search Engine Optimization)
  • Accounting
  • Marketing

Shop Around – Implement a Diversified Shipping Strategy

Many companies, especially small to mid-sized companies, find a shipping service they like and use that service for all their shipping needs. While that can make the shipping aspect of the company simpler, there is an extra cost associated with that kind of strategy.

Each shipping company has their own strengths and weaknesses. And while one shipping company may be good for one particular kind of shipping service – be it parcel size, shipping method, or shipping location – it is simply not feasible for them to be the best at all forms of shipping.

In order to save costs, consider using various shipping services for the variety of shipping needs your company has. That way you’ll get the best service and the lowest price each time. Check out this site to help you with parcel comparison. Shop around. Chances are that the most cost-effective solution is a diversified solution.

Hire Interns – Lower the Cost of Staffing Your Business While Providing Enriching Work Experience to Young Workers

Staff or employees represent a significant portion of the overall cost of running a business. You can minimize this cost while helping out young people who are looking to gain experience in the workplace – hire interns.

You will have to find the right balance between confiding tasks that don’t require a high level of experience and a well developed skill set while still being interesting enough so that an intern can learn from them. There is no ‘one size fits all’ solution to this, but if you are clear in your expectations upfront and maintain an open dialogue with your interns, it shouldn’t be long before you find the right balance for you and your company.

By hiring interns, your company will benefit from low-cost resources and your interns will get a chance to develop their careers. It’s a win-win situation. However, there’s one catch – interns usually come with no previous experience. Therefore, you’ll have to provide them with the necessary training and guidance. While this does require time and effort on your part, the reduction in your overhead should make it well worth your while.

Go Remote – Eliminate the High Cost of Renting Office Space

While going remote – meaning you and your staff don’t work from a dedicated office but rather each from their own home – does come with its disadvantages, in many instances the savings you make in not renting office space will greatly make up for them.

Having your staff work from their homes can be attractive to them as well. In fact, many highly qualified workers only look for jobs that are done remotely. You will, however, need to ensure that you provide them with the necessary tools so that your staff can work effectively as a team. There are many good coworking platforms and collaborative tools on the market designed specifically for this, and many more are being developed every week.

Some tools you should consider are:

  • Project management software – such as ProofHub or Basecamp
  • Communication platforms – such as Slack or Troop Messenger

Hiring remote workers also has the added benefit of allowing you to hire workers from all parts of the world. This will expand your talent pool and, in many instances, allow you to propose a lower salary (since many of these prospective employees live in areas with a low cost of living).

Conclusion

Reducing your overhead can also significantly reduce the stress you can experience when running a business. A lower overhead means if or when profits take a dip, your business won’t suffer as much, you’ll be in a better position to absorb the loss in revenue and you won’t stress over it nearly as much.

Diversify your service providers, confiding them with only the tasks or services they can provide in a cost-effective fashion. Hire interns for some of the basic duties of your company and eliminate the high cost of rental space when possible.

Tom Fogden

Tom Fogden

Tom Fogden is a writer for Twollow with a range of experience in the world of tech publishing. Tom covers everything from cybersecurity, to social media and website builders when he's not reviewing the latest phones, gadgets, or occasionally even technology books.

Related Posts

business exhibition
Business

Business Management: 4 Tips to Grow a Successful Business

As you begin your business, it is critical to consider how you will distinguish yourself and ensure your company's survival....

by John Morris
June 23, 2022
What You Should Do During a Bitcoin Bear Market
Finance

A Decade of Bitcoin: The Past, Present, and Future

Bitcoin is the first digital currency and the latest technological innovation. From the very beginning till today investment in Bitcoin...

by John Morris
June 23, 2022
Build a Strong and Efficient Team
Business

Pro Tips To Avoid Common Trade Show Pitfalls

Trade shows are a significant part of the marketing mix, generating new leads, offering great ROI, and building prospect relationships....

by Haris V.
June 7, 2022
Bitcoin Trading Platforms
Business

How to Buy Bitcoin Canada Using Coinberry?

It’s possible to buy Bitcoin without going into the technical details of BTC, blockchain, web3, and cryptocurrencies. This is somewhat...

by Haris V.
June 2, 2022

Recommended.

Your Youtube Videos

Make Unique and Creative Intro’s For Your Youtube Videos Like A Pro

May 2, 2020 - Updated on July 28, 2021
cleaning laptop

10 Simple Ways To Take Care Of Your Laptop

October 16, 2021
Rent an Apartment in Italy in 2021

How to Rent an Apartment in Italy in 2021: Tips and Suggestions

April 30, 2021
Email Marketing Strategies

Insider Tips to Get the Most of Your Email Marketing Strategies

February 3, 2021 - Updated on March 17, 2022
traveling to bangladesh

Tips for Traveling to Bangladesh in 2020

September 15, 2020 - Updated on December 17, 2021
Business Skills

Business Skills Young Entrepreneurs Should Master

January 18, 2019 - Updated on July 15, 2021

Twollow is one of the leading tech and business blogs, that is dedicated towards updated Technology & Business news, reviews, Apps, how-to, smart tricks, and tweaks.

Follow Us

Categories

  • Apps
  • Business
  • Education
  • Featured
  • Finance
  • General
  • How To
  • Marketing
  • Reviews
  • Security
  • Tech
  • Uncategorized

Top Posts & Pages

  • 100+ Free Premium Minecraft Accounts & Passwords (Tested 2022)
    100+ Free Premium Minecraft Accounts & Passwords (Tested 2022)
  • How to Get Free Virtual Phone Number for WhatsApp Installation
    How to Get Free Virtual Phone Number for WhatsApp Installation
  • 3 Tips for Building a Positive Reputation in the Building Industry
    3 Tips for Building a Positive Reputation in the Building Industry
  • How Much Weight is Allowed in a 20 ft and 40 ft Container?
    How Much Weight is Allowed in a 20 ft and 40 ft Container?

Recent Posts

Facts to Increase Conversions

Site Heatmaps: Facts to Increase Conversions

June 24, 2022
business exhibition

Business Management: 4 Tips to Grow a Successful Business

June 23, 2022
What You Should Do During a Bitcoin Bear Market

A Decade of Bitcoin: The Past, Present, and Future

June 23, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Disclaimer
  • Cookie Privacy Policy

No Result
View All Result
  • Home
  • Security