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Naturally there are going to be some services that you use on a constant basis that justify a monthly payment.
Unless you happen to be one of the handful of people in the world who still use their landline, home phones almost feel like a relic of the past these days. The few hours you spent learning how to unclog that kitchen sink yourself might have saved you a couple hundred dollars.
Top 10 Ways to Trick Yourself into Saving Money
However, how much more money could you have earned if you had spent that time working on your business instead? As an entrepreneur you should be focused not on how much money you can save with your time, but how much money you can earn. These days most modern libraries will freely provide you with everything you need to get to work, from free internet, quiet rooms, and other amenities for you to use. For a membership fee you can get access to conference rooms, high-speed internet, and the chance to meet like-minded people by joining a community of local entrepreneurs. No matter what stage your business is in there are bound to be repetitive or time-consuming administrative tasks that can be done by someone else.
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While it is tempting to keep costs low, especially in the early stages, by doing everything yourself. The drawback is that the time spent on these low-energy tasks could be better spent doing something else. Virtual assistants are an incredibly cheap and effective way for you to outsource these tasks to someone else, giving you back your time. Renowned entrepreneurs like Tim Ferriss and John Lee Dumas have built their respective empires by employing up to dozens of virtual assistants.
You can start looking into hiring your own virtual assistant with this 5-step guide to The Secrets to Finding, Training, and Managing Great Virtual Assistants by my good friend, Jonathan Chan. If your business has grown to the point where you can start taking on regular employees, you should definitely consider the idea of bringing an intern on board.
In exchange for one-on-one coaching and work experience, you can gain a motivated and passionate individual on your team for a fraction of the cost of an employee.
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Otherwise you can always go to your local college for any potential hires. Most colleges will already have an internship program that your business can be a part of, although each one will have their own individual expectations and requirements. You can also use services like InternQueen and WayUp to find potential interns both online and in your area.
Just remember that your intern will likely be someone who is either in the midst of completing their studies, or has only recently graduated. Just like with any new potential hire, be realistic about your expectations about your intern in order to get the most value out of them. At the very least the processing of finding and hiring an intern will be a great opportunity for you to do a stress test on whether or not you and your business are ready to bring on employees.
The best way to take advantage of sales is to create a list of things that you actually want to buy. Being able to tap into a network of like-minded people anytime you want is a valuable resource that can only promise to keep on giving over time. Instead of paying a professional consultant, or a business coach for their time and knowledge. If you happen to have a friend that the knowledge you want, then all you have to do is ask them and you get that information for free. Not only that, but a network can introduce you to new clients and potential investors , and give yourself a chance to find a mentor that can help guide you through your journey.
Stanley for a variety of tactics and strategies on building relationships to strengthen your business.
Without a financial plan all your budgeting at the start of the month just because an exercise in futility since there is no real understanding of where your money is going. The only way to solve this is to sit down and spend a couple of hours to set up a proper budget that you can follow. Yes, I know this sounds like a lot of work but spending a couple hours right now is going to save you thousand of hours in the future and, most importantly, save you money.
A partnership means that you share the responsibilities, bring on board different skills, and keep you accountable when you need it.go to link
Cool DIY Projects that are Quick and Save Money
Even if not for the role of a co-founder, you are bound to find potential partners in specific areas that can help you achieve your goals. From buying Facebook ads to spending thousands to improve your SEO there is no shortage of ways you can throw money at the marketing problem. However, if you look hard enough, there are also just as many different ways you can enhance your marketing without breaking the budget. The best way to build a community around your brand is to delve into content marketing.
Despite what others might tell you, social media is still a valuable platform to gain organic traffic. Be sure to check out my interview with Matt Nelson where he talks about the strategy and tactics he used to gain over 2. Even offline there are hundreds of different ways you can drive people to your business without spending a cent; like attending events populated by your target customers, developing a referral partnership with another business, or even taking advantage of influencer marketing by appearing on a popular podcast.
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Follow MoneyCrashers. Trending Articles. Become a Money Crasher! Join our community. Share this Article. Here are 5 tasks that you can do yourself: Prime Day : Two-days of epic deals start July 15th. See early deals now. Mark Riddix Mark Riddix is the founder and president of an independent investment advisory firm that provides personalized investing and asset management consulting.
Mark has written financial columns for Baltimore and Washington, D. Next Up on Money Crashers. How much does your apartment cost? Latest on Money Crashers. Sign Up For Our Newsletter. See why , people subscribe to our newsletter. Make Money Explore. Manage Money Explore. Save Money Explore. Borrow Money Explore. Protect Money Explore. HuffPost is now part of the Verizon Media family. We Verizon Media and our partners need your consent to access your device, set cookies, and use your data, including your location, to understand your interests, provide relevant ads and measure their effectiveness.
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