Being the ultimate in small businesses, a company of one, I’m always thinking of ways to have higher profit margins without sacrificing customer service or constantly raising prices. Sound familiar? So, here are three ideas from that awesome business coach, Mr. Internet, that might be helpful to us both.
- Don’t try to look “big” when you are not. Showing a team on your website or leasing large office space doesn’t necessarily win the clients that are the best fit for your business.
- Memberships and subscriptions. Scrutinize every networking group and license you maintain. Are they adding consistent value to your business or you as a professional? If not, it’s time for a breakup.
- Technology that doesn’t serve you: Years ago, I got rid of my business land line in favor of pure cell phone communication. A few years after that, I cancelled my e-fax subscription. Sure, they were replaced by other technology costs (ShareFile, Carbonite, etc.) but the technology is more secure and having everything in electronic format means I don’t print anything. Almost no paper and ink costs.