Partner Article

Business money saving tips from DealJungle.com

Every single business can save money regardless of size says Tom Michaels, founder of business deals site DealJungle.com . Here he gives three top tips on how to cut costs and save money, whilst still improving your firm.

Use Freelancers

One great technique your business can use to cut your payroll expense is to establish a network of contracted freelancers. Instead of hiring one employee who has average skills in a variety of areas, you can source multiple specialists as and when you need them.

You avoid costly salaries and benefits, deliver the best work possible, and only incur expense when new projects come in the door – it really can be the best of both worlds.

Look for freebies

It might sound obvious but the best way to cut expenses is ask for things for free. The worst that’s going to happen is you get a no, so give it a go.

For example, lawyers will often offer free legal advice on the basis that you will use them for more complex work in the future. If you don’t want to go down this route you can still outsource any repetitive work you do.

By finding the right partner you can make great achievements at a low price – without sacrificing quality.

Virtual reality

Find an incredible virtual assistant. Attempting to everything by yourself will result in ineffective working and in the long-term possible burnout. Hiring a great VA means that someone else can manage your calendar, inbox, call people back, organize your meetings, and more, leaving you free to concentrate on more high level business issues.

Better yet, you might want to go one further and work out of a virtual office. Your employees could all work from home and perhaps attend monthly meetings in a serviced office. You can communicate for free through email and Skype and again will only incur costs when you actually need to meet somebody face to face, which for many firms is becoming increasingly unimportant.

Office costs are amongst the largest faced by firms and by going virtual you can remove this almost entirely.

This was posted in Bdaily's Members' News section by Tom Keighley .