Business Guides

5 Methods to Save Money as a Small Business

Owning a newly established small business can be difficult. If you are someone that owns a small business, then you will know just how hard it can be to cover all of your general costs while also trying to run a successful business.

Though you may not want your business to be all about money, it is hard to deny that money isn’t an important factor when it comes to running a business. As a business, you depend on your financial income and you have to make sure that your incoming and outgoing costs are balanced, which can be difficult to do. Saving money should be the priority of every small business and here are 5 methods that you can use to save your small business money.

 

Don’t hire too many staff

A very common mistake that brand new businesses often make is hiring too many staff. Staff is a key part of ensuring that your business operates smoothly, but when you are a small business you don’t really need that many staff.  If you have staff, then they will expect to work at least sixteen hours a week and if you have a lot of staff, the wage cost will be quite expensive.

Our recommendation is to start off with minimal staff and if you believe you need more help, then hire someone else. This means that you can manage your money better and pay your current staff a reasonable wage.

Hunt for deals

Many people think that business owners have to stick by wholesale prices, but this really isn’t the case. If you can get your products for a very cheap price, then you can sell them for a little more and turn a very good profit.

There are many ways that you can save money on your products. For example, if you buy a bulk order of a product then you can get it much cheaper.  Also be sure to look out for any coupons that you can use,  be sure to check out top1 coupons and deals to see if there is anything that may benefit your business.

Go online

If you are a small business and you are struggling with the costs of operating a store, we recommend that you move your business online. Moving online cuts out a lot of the costs that come with owning a business. Rent and utility costs can take a large chunk of your profits, which means that you may not start to see any returns for quite a while because of this. A lot of people prefer online shopping these days, so you may even notice an increase in sales if you do decide to move online.

Do your own advertising

Another big cost that comes with owning a small business is advertising. A great way to cut these costs is by working on your own advertising. A great way to advertise your business is actually with the bags that you give to your customers. If you have a vibrant logo and a customer walks around with your bag for the rest of your shopping trip, then other people may notice this and they may feel the need to check out your shop themselves.

Look for good utility deals

Gas and electricity can be very expensive and so it is important that you don’t settle on the first deal that you come across. Something that you may not know is that you can actually haggle with a lot of utility providers in order to get a good deal, so take the time to shop around and find the best possible deal.

Studying Business: Techniques to Help Survive Your Exam

The importance of your business exams cannot be stressed enough if you are planning on graduating and getting your final industry qualification, the exams are notorious for their length and intensity with many saying that they are the hardest exams that they have ever done before. I don’t mean to stress you out with the harshness but it would be unwise to downplay the situation from what it is. Taking your business exam is a crucial part of your career and a bit of stress could provide you with the motivation that you need to be successful.  

 

If you are looking for ways that you can help revise what you need to know in order to ensure that you are fully prepared for this intense exam then you will be glad to know that there are a number of things that you can do. A lot of what makes up effective revisions is ensuring that the sources you are using are reliable and clear in what they are trying to say, with something as complex as a business in particular it can be easy to lose the information in what is generally a lot of unnecessary jargon. 

 

Study Guides

When it comes to studying for any exam it is always going to be a good idea for you to invest in the relevant study guide that is provided by your independent examination board, doing this means that you have access to all of the relevant information and topics that you are going to be tested on. Rather than wasting time looking over things that are not going to come up you can simply check the study guide and expand upon the given topics if you wish to get some extra points for context on the subject.  

 

If you are entering your first year within your business study then you will definitely need the cfa level 1 study guide which is filled with all of the relevant examination board topics that will be covered during this study period. They may be expensive but if they can help get you onto the road to success in both your educational and professional lives I would argue the price is worth it, but if you are looking to find study guides at a more affordable price point why not try buying secondhand from an online retailer as many people give them away when they no longer need them or have finished the course.  

 

FlashCards

 A great way to ensure that you remember all of the information that you need when it comes to your exam revision would be to split things up into categories and put small segments of the information onto individual flashcards. Using a single word prompt on one side to help you remember what is on the other side you can very quickly memorize large amounts of information in a very effective way, flashcards are portable too so that you can continue revising on the go and no matter where you are.  

 

Audio Books

A great way to ensure you are doing effective revision for your business exam would be to switch up the way you are taking in the information, by listening to relevant audiobooks and having the information spoken to you rather than reading it yourself is actually very effective for many people. If you do not have access to any audiobooks why not record yourself or a friend reading out your notes so that you have another extremely portable and effective form of revision that can also be quite a relaxing way of doing things.  

 

The 5 Hottest Businesses in San Antonio

San Antonio is a busy place with a large population. For this reason, there is always a demand for new businesses to meet the needs of the people of San Antonio. As well as being an extremely populated place, San Antonio is also extremely trendy.  San Antonio has gained a reputation as a hub for all that is cool and in right now and in order to be successful, local businesses have to abide by this look closely. Luckily for these businesses, many of them have thrived and have managed to stay current and popular with the people of San Antonio, even businesses that aren’t considered to be too glamorous. Here are the 5 hottest businesses in San Antonio.  

At Home Party 

There is nothing that the people of San Antonio love more than a good party. The clubs of San Antonio are fantastic, but getting into a club can be extremely difficult and the entry cost can be extremely expensive. For this reason, more and more people are choosing to have parties at home. The people of San Antonio don’t just throw your standard parties and for that reason they need party planners, which is where the At Home Party company comes to help. They completely plan your party and simply request for you to cover the costs, which saves people a lot of time. 

At The Cleaners 

With all the parties that are constantly happening, there is bound to be a lot of mess. At The Cleaners has been tidying up the homes of busy San Antonio citizens for the last 4 years and they offer guaranteed customer satisfaction when i0t comes to the quality of their cleaning. If you are someone that is expecting the visit of home inspection services in San Antonio, then you will want to make sure that your home is as clean as possible.  

Business Mentors UCR 

As previously stated, there are lots of businesses in San Antonio and for that reason, it can take a lot of work in order to have a successful business among all of the congestion. Business Mentors UCR is a business that offers advice to businesses that are just starting up, as well as offering them business connections to allow them to network with people who can allow their business to gain success.  

The Bar 

We couldn’t write a top five of San Antonio’s hottest businesses without mentioning one of the many bars that they have. The Bar is one of the most popular bars in San Antonio and it is said that every party goer finishes their night at the Bar for some inexpensive drinks and fantastic music that gets everyone re-energized and back into the party mood after a long night. Something that The Bar offers that everyone loves is free toast at 6 am, which is extremely useful for anyone that has been too busy partying instead of eating. This shows just how much the business cares about its customers as they do all they can to try and help them avoid hangovers.  

The Know-How 

If you are someone that loves trendy clothes but doesn’t have a clue where to start, then you are going to love The Know-How. This business offers a personal shopping experience that promises to find you clothes that cater to your personal tastes but do not break the bank. You simply send the company reference pictures of the clothes you like the style of, along with your sizes and color preferences. They then use this information to completely restock your wardrobe and rejuvenate your look.  

Why do a lot of Business People play Golf?

Whilst isn’t exclusively business people who enjoy a leisurely game of golf, a lot of businesspeople visit the golf course much more often than the average person. Every time you visit the course you’ll always see groups of suited-up business people in the middle of a game, it also is commonly featured in films because it does happen so often. So if you’ve ever wondered why so many business people play golf then keep reading because we’ve found all the reasons golfing is good for business people.

Networking

One of the main reasons that you’ll always see business people on a golf course is because it presents some fantastic networking opportunities. To be successful in business you need to forge as many relationships and friendships as possible as it’s a very interpersonal industry.

Everyone has heard the saying ‘it’s not what you know, it’s who you know’ and the golf course is a great place to expand your circles and meet people who may be able to help you. As golf is a long game it gives you several hours of quality time to impress whoever you’re playing golf with whether it’s an interviewer for a new job or if you’re delivering a pitch to a potential investor, it’s a great environment and has a relaxed atmosphere so it’s no surprise that so many business deals are completed on the golf course. It’s also a good way to get some extra time with people, first impressions are important when forging a relationship but you can’t establish a relationship with one meeting and they’ll be more likely to say yes to playing a game of golf than they will a meeting in a formal setting. Once you’ve secured a game of golf then remember that you’ll be with the other players for hours and you’re there to enjoy yourselves and have a fun game of golf as well as to discuss business so don’t jump right in with the business talk, you’ll know when the time is right to bring it up. If you’re playing a game of golf with people that you’re trying to impress then you’ll want to make sure you’ve got the basics of the game down even if you aren’t great, I used to struggle but I vastly improved at golf with an indoor home golf simulator which I can’t recommend enough if you don’t have time to get to the course to practice.

Character Building

Golf is one of the most challenging and frustrating sports to play, you can practice and practice and start to see some improvement but sometimes even though you don’t do anything differently you can have an awful day where everything goes wrong. As frustrating as this is at the time it builds character as you’ll be able to learn from the bad game and next time you perform poorly you’ll be in a better position to deal with it. This skill is transferrable to business as you’ll have a lot of unsuccessful meetings and you need to know how to pick yourself back up after a bad one and keep going.

Health Reasons

Many business people spend hours a day every day sat at a desk looking at a computer.  This isn’t good for their health to be sat down all day, a golf course however has to be big and a game of golf on average involves 4 miles of walking. Even a weekly game of golf for a business person can massively add to improving their health. It also has a great impact on mental health as well as physical health, the fresh air, the social interaction, and the nice surroundings are shown to improve mood which many business people need after a 60 hour week A business person has a very stressful job and playing golf is also linked to lowering stress levels and can even boost confidence which is an important quality in a business person. The health benefits of golf are so good that a study showed that golfers live 5 years longer than non-golfers because of these benefits.

How Companies Use Instagram to Turn a Profit

Big companies will utilize any tool at their disposal to turn a profit. It is the nature of capitalism that profit turns the world. And as much as you may or may not agree with it, it is the world we live in.

The best weapon you have at your disposal is knowledge. How you use that knowledge is up to you. But today we want to level the playing field by helping you learn about professional instagram accounts and how companies use them accounts to turn a profit.

The Power of Knowledge

You might be wondering why you would ever need to know any of this. If you are approaching this article as a business owner, then the information provided will give you an insight into how powerful a marketing tool Instagram can be. When used correctly, you can boost your business and turn a profit easily.

From the consumer side, it is important to understand what tactics businesses use to market themselves to you. This helps you better spend your money and allows you to notice things that might not seem like an advert at first, but on closer inspection, you might see it actually is.

Direct Marketing

Most big companies these days will have a number of social media accounts associated with their brand. Coca-Cola has a Twitter. Mcdonalds has a Facebook page. And all of them will make use of Instagram.

The most obvious advantage of Instagram for these companies is the ability to visually market their products. Nothing helps sell a product better than seeing it with your own two eyes. Especially with food-related products. In the past companies would use billboards and posters to achieve this. But this required physically being near the marketing to experience it. With Instagram, they can reach millions of people for free.

By adding to their stories they can actively engage with their customers as well. This doubles down as it tricks people into engaging with them, without realizing they are being marketed to.

 

Indirect Marketing

The more sneaky ways of marketing are what you need to be aware of. It is through these methods a company is able to secure a lot more profit and spread their influence.

The main way of doing this is with product placement. Companies will pay popular Instagram accounts to sneak their products into their live streams or photos. In the same sense of doing this with a TV show, it lets their product be seen without drawing direct attention to it. Studies have shown that this form of advertising affects us subconsciously.

Companies will pay out hundreds upon thousands of dollars to influencers to have them talk about their products. But they manage to mask this by having the influencer talk about the product as if they aren’t being sponsored. This practice is slowly dying out as Instagram is putting safeguards to make sure users are informing people if their content is being sponsored and by whom.

Another sneaky advertising method comes in the form of comedy. Companies like Wendy’s have seen massive success by using their Twitter account to roast people and tell jokes, rather than advertising their products. But this has the knock-on effect of making people associate happiness and laughter with the product in question. These unconscious associations are worth more to a company than any direct advertising. Once a brand is in your unconscious mind, it has secured profit from you.