Jan 05, 2017 09:54 AM EST

Money Saving Tips For Small Businesses: How To Save Money on Advertising And Overhead Costs

Running a small business can be overwhelming. Apart from overseeing the day to day operations, a business owner also has to be mindful of the little expenses, which seem to come out of nowhere. While it does cost money to make money, overlooking one’s business expenses could be disastrous for any venture.

Fortunately, there are a few tips that one can do to save money on advertising and overhead costs. Here’s how you can save money in your small business.

Go old school when it comes to advertising

Putting up a billboard to advertise your business can cost a lot of money. Instead, advertise the old-fashioned way through the use of coupons and flyers. Ask the neighborhood paper boy to tuck these inside newspapers, and you could also place them inside customers’ bags before they leave your store.

Brush up on your social media skills

Using social media is one of the best ways to advertise your business for free. Use Facebook and Twitter to connect with your customers, and check your accounts throughout the day so you can address any questions about your products or services. Make sure to post new content every day to keep your followers engaged.

Create online contests for your followers

This is a great way to get more followers and to get your products noticed online. For instance, coffee shop owners can have followers guess the number of coffee beans in a mug. Whoever gets the exact or closest answer wins a free cup of coffee and a pastry of his or her choice.

Teach what you know

Flower shop owners can teach a flower arranging class at the local community center while crafting stores can hold monthly classes on location while putting the spotlight on products. This is a great way to get attention for your business, and it’s free.

Replace your light bulbs

Cut down on electricity bills by switching out your basic light bulbs for energy saving bulbs. These may be more expensive than ordinary light bulbs, but they last significantly longer and will save you about $300 a year on your energy consumption.

Opt for refillable printer cartridges

New ink cartridges typically cost anywhere between $35 and $40, while having an ink cartridge refilled will only cost $10.

Learn to do it yourself

Instead of hiring a tech guy to troubleshoot your computer, or hiring a blogger to make content for your website, spend a few minutes each day learning how to do it yourself. You’ll save money, and you'll also acquire new skills which will be valuable for your business.

For more, check out Jobs & Hire’s report on the best work from home jobs.

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