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Small Business Tips \ MAR 25th 2015

7 Ways to Make More Money from Your Business in 2015

You’ve got big dreams. A T-Rex sized motivation. And you may very well be the world’s next business sensation. But there’s only one thing stopping you from getting your business exactly where it should be: money.

If funding is what’s holding you back from growing your business you’ll be happy to learn that money has one strange quality: it can be hidden in places where you least expect it. Unlocking your true earning potential begins with opening your eyes to the hidden opportunities that are within your reach for saving, or actively making, money.

7 Ways to Make More Money from Your Business in 2015

Educate Yourself About Free Online Tools

Today, you’re more likely than ever to find free alternatives for nearly every online business tool that you need. True, some of them may come at a small cost: Most free online tools come with the vendor’s own branding and are likely to have some features and/or storage restrictions. But these are still fantastic tools which you should consider as your first choice.

Some of the best freebies online:

  • Wix for easily creating your own beautiful website
  • WiseStamp for creating a professional email signature
  • Google Docs for a great MS-Office alternative and collaboration tool
  • Wave for simple invoicing and accounting
  • PicMonkey for quick online photo editing
  • IFTTT for streamlining and automating your online chores
  • Square for accepting credit cards through your smartphone

Trim The Fat

Every business can afford to shed a pound or two. Go through your expenses one by one, and see what you can cancel or reduce. Switching to energy-efficient appliances or a cheaper phone plan can save you thousands of dollars over time. Call around for better insurance plans or credit card interest rates and don’t hesitate to negotiate and ask for discounts. You won’t get a deal if you don’t ask for it! Not sure which expenses you can live without? Try cutting one for 30 days—you’ll be surprised at the results.

7 Ways to Make More Money from Your Business in 2015 | Trim The Fat

“Productize” Your Service

If you offer a service, try packaging it like any other traditional product to reel in new customers. Say you’re a graphic designer, instead of offering an hourly rate, present a “Website Package” with defined features for a set price. Your new “product” may attract new audiences that were looking for a different experience. Play around and see what works.

Increase Your Rates

If you’re a freelancer, raising your rates comes with the territory. To help you determine the rate that’s right for you, check out these tips. For example, it’s often easier to up your price with new clients rather than existing clients. Before you do, make sure you’ve assessed your added value and the going rate in your specific market.

Increase Your Rates

Keep The Cash Flowing

If cash is tight, you should know why. Do you have debt from non-paying customers? Are you holding too much inventory? Is your overhead too high? Are your payment terms too liberal, or your billing processes too slack? Investigate each possibility and see which one is wreaking havoc on your cash flow.

Keep The Cash Flowing

Start Tweeting

Every business owner needs to be social. This is where current and potential customers will get to know your brand and unique voice as well as communicate with your team directly. Luckily for you, there are endless tools out there to help you participate in the right online conversations without losing focus on your business. Buffer and Hootsuite are two excellent examples of such tools.

Have A Killer Website

Over 46% of small businesses expect to grow their revenue in 2015 by combining email with an easy-to-use website. If you’re a brick-and-mortar store, it’s especially important to display your full product line on your website. If you don’t have a website yet (horror of horrors), don’t worry—we’ve got a quick fix for you!

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by The Wix Team
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