You're constantly faced with major spending decisions. You're in the market for a new computer or fax machine, or it's simply time to pay that exorbitant phone bill. Face it: The cost of doing business is becoming a major financial strain for many homebased entrepreneurs. But with a little planning and professional guidance, you can ease the tension on your purse strings and reduce expenses.
Saving money doesn't mean underpaying employees, however, or going without the necessary insurance, according to Dean and Jessica King, homebased entrepreneurs in Richmond, Virginia, and co-authors of Paper Clips to Printers: The Cost-Cutting Sourcebook for Your Home Office (Penguin). "The idea is not to be miserly or do everything yourself," explains Jessica. "The goal of cost-cutting is to make smart spending decisions, such as figuring out how to avoid buying more equipment or services than you really need or how to hire consultants at the right price."
To help you pare your expenses without sacrificing quality, here are some cost-effective strategies for everything from marketing your company to finding the right help for your business.
Carolyn M. Brown is a business and technology writer living in Plainsboro, New Jersey, and author of Nobody's Business But Your Own (Hyperion).