Owning and operating your small business should bring in more money than it consumes. However, for a lot of start-ups this isn’t the case. If you’ve been having problems with the overhead costs for running your business, then you should consider using different tactics and tools to help you keep your finances in order. Here are a couple of tips to help you out.
Consider Drop Shipping vs. Keeping an Inventory
Today, you don’t have to keep an inventory of products you sell, even if you are the one making them. If you are a retailer who uses a wholesaler, then find one who will drop ship the goods for you. On the other hand, if you are the one who is creating the product, you can use Amazon to carry the items and ship them out for you.
Advertise with Social Media
With a good social media marketing strategy, you can hone in on getting your products and services in front of the right people. This is a free way to market your business, as compared to using fliers, direct mail and other paper collateral. Just find out where your target customers like to hang out and use those sites to leverage your business.
Start a Business Blog
One way to help people find your business and gain trust of it is to start a business blog. This can help you to build a reputation as an authority in your field and bring attention to your products and/or service. Make sure to leverage social media with this to help gain traffic from those sources to your blog.
If you sell products, you can also open up accounts on places like Etsy and eBay, which can help boost your sales and lower your overhead costs that comes with hosting your own eCommerce website. You can also find a ton of deals on Groupon Coupons for eBay and over 8,600 other businesses. Check them out daily because new discounts are always being added!