Image by Thomas Hawk via Flickr
They say only a small percentage of businesses survive their first year, and cash flow issues make more close each day. Businesses that make it past that 12-month hurdle aren’t out of the woods yet though. While growing a successful store, company, or corporation is a hugely rewarding undertaking, especially when you climb out of the red and into the black, challenges still lurk on the horizon.
Businesses now are clipping proverbial coupons to ride out the cloudy fiscal forecast while looking forward to clearer skies. Bootstrapping a business now can help ensure it’s there for another year, at least. How can companies stay financially afloat when the economy’s flooded?
1. Save on bills. Just like homeowners, business owners can save by finding better solutions for basics like phone bills. Such a move can save hundreds, if not thousands, a month.
2. Use a loan. Small loans can be just the thing to scoot numbers back to black. Fast cash loans are easy to apply for and are dispersed within a business day upon approval.
3. Save on space. Businesses can save significantly by subleasing their office space or sharing, having employees work from home, and picking up gently used equipment—this move alone can save thousands.
4. Save on marketing. Marketing is essential, but so is staying in business. Tap into university resources—students are talented and inexpensive. Also, businesses shouldn’t underestimate excellent customer service; a satisfied customer can gab and blog his or her recommendations.
Business execs everywhere—even just Sally and her pottery—can come up with creative ways to stay afloat; the view from their boat will be crystal clear.
