4 Ways Startups can Save Cash

Now that tax season has rolled around, you're probably thinking about all your expenses as a small business owner. At the end of each year when you look at what you've spent, you realize just how quickly it all adds up. If you're self-employed or running a small business, saving every penny is important. Here is how Alex F. Bouri did it when he started Seament.

Sharing an Office

Not everyone has the luxury of being able to have a home office. Sometimes the business is too large for a home office, but too small for an office building. If this is the case for you, consider coworking, or sharing an office with another small (but not small enough) business. You can split rent costs and even find other businesses that would be useful to partner up with. It's refreshing to have another team to bounce ideas around with, plus, you're saving money. Sharedesk is a great resource for finding someone to share office space with.

Social Media Marketing

Having an advertising team is a big cost, but as a startup, it's important to generate some branding. Believe it or not, a lot of today's businesses are having success just with social media. Create a Facebook, a Twitter, and perhaps even a YouTube account, and make sure they're all branded with logos and tones. Host contests to get people to like your page, and have friends, loved ones, and other local businesses spread the word.

Be Loyal

Many vendors are pleased to make relationships with their clients. If you show your vendor that you are a loyal customer, they might just cut you a deal – especially if you show them that you're in it for the long-term. Be sure to discuss your business goals with your vendor and let them know which products do well for you. Order in advance and always pay on time. You might be rewarded in the long run.

Bargain Shop

For small things that are necessary to your company, like paper, labels, and even transportation, be sure to bargain shop. Never buy anything without being certain that you're getting the best deal. As we said before, you don't realize it at the time, but small things add up over the course of the year!