How To Save Money... Because everyday in every way your money is shrinking, and you can't seem to make ends meet, no matter how hard you try. And now you have fallen in a depression, due to your money problems that keep on getting worst. Because if it's not one thing, then it is another, and it's one bad news after another. Because the great business that you have had for years or even trying to get going, now all is crumpling and now you are worried about how to survive this storm. I mean, all your life you have been a survivor, except that now you no longer have your youth, and you have serious doubts about starting all over again. And whether life will be as kind to you as before in showering you with luck, with chance meetings, with customers from out of nowhere. So what do you need to do to hold down the fort, until this lean cycle is over with, and the fat time can come again? Well today I will share with 3 things you can do to save as much money as possible, so you can at least break even until this financial storm has past.
First thing to do for how to save money: Know Your Cash.
Know your cash flow, know what is coming in and what is going out. Because these are lean times and you must control your budget, you must write down your accounts payable and receivables. You have to get on top of all your sales, because you may have to give even more discount just to keep your customers coming. And your suppliers are expecting to get paid because they have sent you all that you need. Besides you have built trust and a great relationship, so you must keep it at all costs.
Second great way to save money: Become A Skeleton.
Yes money getter, trim off all the fat around your spending. If you have a website and you have all the bells and whistles of a hosting plan, then take it down to the basics. If you have to get free advertising, then find something to give away to a charity event, and you will be talked about along with your great business. Also start to cut down on the suppliers for your Brick and Mortar business, cut down on the electricity, cut down on new orders, and revamp old inventory. Be creative since you have a great business mind.
Third way to save money: Incorporate Others.
The problem with companies when they are facing hard times, they only make their decisions at the top level. And then there only solution is to let people go, and that is very dumb to fire great talents. But not you, because you are smart so you will go the other way. Instead, you will talk to your employees like human beings, and ask them to get involved. Because if you have to let them go, then they have no idea what's out there. So get them involved fully and offer a week's vacation or a small promotion, and you'll be surprised how many ideas they'll come up with to save money and to increase business. And some of them will even go out and tell people about your business, and persuade them to become your customers. Because remember, you didn't get rich by yourself, and you can't stay there without the help of people.
So as you can see and realize, tough times will come and go, as life is all about ups and downs. But when you're on top, you must always plan and save for the bottom, because it is coming for sure. Also when the tough times come, do not throw a Pity Party, and forget all the great things that have happened in your life. Remember them, and you will quickly be on top once more, you just have to remember how to save money...