I recently posted some additional recession busting ideas into another forum and thought I would pass them along to the readers who visit here. Rather than for business, these are for general money saving or living and spending more smartly.
One of the ideas they had posted was about borrowing a DVD from a friend or relative. I have one that I think is even better -- go to your library and see their DVD selection. Most libraries, even the smaller ones in our area have a large selection of many of the latest TV series and movies and they allow you to take them for up to 3 weeks which allows you and your family or friends time to watch them as well.
Another idea on the other forum talked about how to buy "name-brands at a discount" and I stated that I was kind of amused by the "offer name-brands at a discount" advice and then later in the 18 suggestions it is suggested to stop trying to keep up with the Jones? I say, who needs "brand name". In my 50 something years on this planet, I have "never" searched out a brand name piece of clothing and quite frankly I could care less what the Jones, Clarks, Williams or anyone else thinks about whether my clothing has a logo on it.
Their number 5 suggestion was about buying with cash. This is a good suggestion but when the savings rate in the USA is a negative 1% this is probably not a feasible suggestion, right now. But, it is one that will probably be a growing trend and then my suggestion would be, if you do pay with cash, ask for a discount. Many people do not realize that vendors pay 3-5% for the privilege of accepting credit cards so by you paying cash and they have to wait a few days until the money is deposited into their accounts by the card company.
By offering them cash, they get paid immediately and saving 3-5% so why not share some of those savings with you - all you need to do is ask.
Just recently, both my father and I needed new furnaces. I had to make all the arrangements and upon learning that my father needed his replaced, I asked the salesman if he would provide my father and I with any type of discount since he was making a second sale to the same family and a rather easy one at that. He immediately offered $100 off the total for each of us. All you have to do is ask.
Their numbers 11 and 12 ideas referred to keeping up wtih the Jones again which reminded me of something I heard or read about 30 years ago. I am probably butchering this but it went something like this "stop spending money on things you can not afford to impress people who deep down you really do not like and in most instances who probably do not like you". If you have to "impress" the people you think are your friends, then they really are not much of a friend.
Their number 18 talked about going to discount stores and I stated that maybe I had missed it somewhere in the other 17 but I did not see shopping at consignment shops or salvation army stores or garage/yard sales. My wife and daughter have found many items of clothing for each of us that are clean, sometimes still have the original store tag on them. These stores most often support good causes and provide incredible bargains. In fact I am wearing a flannel shirt right now that cost all of $3 that still had the store tag on it and would have cost $12-15 in Walmart or some other discount store. I have worn it many times in the past year and have yet to have anyone ask me why I am wearing something from a consignment shop to which I would probably answer because of the $10 I have in my wallet.
One last suggestion that is a two parter. Go check out eBay. There are many buy it now bargains or even auction bargains you can find there on all kinds of things, including clothing. If you do not want to sit around the computer constantly bidding, you can put in what the highest price is you will pay for something and let their system put you in the bidding queue, then go about your business.
The second part of this suggestion also involves eBay. Start looking around at what you have accumulated and what you no longer wear or use. Sign up for ebay (its free) and begin selling the stuff off. Not only will you free up some space in your home or apartment but you will also be building up some cash for your safety net or other purpose.
Maybe I am like this because I was raised by two parents who lived through the Great Depression of the 1930's and had instilled in me to not waste money, to save money, pay cash if you can and don't go into great debt and most of all you don't need to give a damn about what someone else thinks about you. If they don't like what you wear or how you look, well then they are the ones who have a problem.
Hope these ideas will help you.
Ron Coble
http://www.importexporthelp.com/
The International Business Times is the leading provider of international business news online.
Showing posts with label recession suggestions. Show all posts
Showing posts with label recession suggestions. Show all posts
Recession Busting Ideas For Your Business
Many people are justifiably concerned about the state of the world's economies. I decided to post some ideas on how to save on necessary expenditures within your business (or personal lives) that I have utilized (and continue to do so).
I have always operated my small business with the mindset of "is this expenditure justified"?
I do not believe that "one size fits all" and that conducting your business or personal life in an exact manner as someone else does theirs will result in the same of similar conclusions. However, by trying to maintain a frugal approach to doing business, we have never gone into debt for the business and this has helped the business through various low periods, including the one we are currently experiencing.
Here is a short list of things I routinely do (or have done) in my business that have helped conserve revenue include:
1. Shopping for office supplies at dollar stores.
2. Reviewing the sales flyers from office supply stores for sales on items that may not be available at dollar stores - I found an incredible deal on an new laser printer last winter after Christmas that was less expensive than buying a new toner cartridge for the old printer.
3. Consolidating trips - try to schedule as many of your local trips to the bank, office supply store (dollar store) or other business related travels into one or two days a week.
4. Get rid of your dedicated fax line (if you can) - I saved about $4-500 a year by getting rid of the dedicated land line for receiving fax messages - I found a service that provides a "dedicated" 10-digit fax phone number for our business (without extensions) that costs only $34 the first year and $24 each "year" thereafter.
When someone sends a fax to our number, it is translated into a PDF document and emailed directly to our email inbox. I can then open it, read it and print it out (if necessary) - most of the time it does not require printing so it is simply stored on the PC hard drive.
This also has saved us on paper costs since we used to receive daily spam fax messages which were a total waste of paper (and time).
5. Using credit cards that provide a rebate on all purchases.
6. Taking advantage of online shopping for business services or products - I saved $70 this past Winter when shopping for tax prep software - I found an Amazon vendor who had it for half the price, then Amazon had a special deal on opening a credit card with them which gave us $30 against our first purchase and we ended up getting the $75 software for $5 and it included free shipping.
7. This one is something we actually did about 5 years ago - our business was based primarily on direct mail from 1988 through 1998 - we used to spend thousands of dollars a year on paper, printing, envelopes and postage. As our Internet marketing expanded we also saw a steady decrease in the ROI from direct mail.
Approximately 5 years ago, we ceased using any direct mail as email and our web site had tripled our revenue from what direct mail had ever achieved. Electronic marketing is saving a lot of trees. ** One suggestion I would have for a business that is still utilizing direct mail is if they do not mail enough to warrant a bulk mail permit, I would be buying the "forever" stamps to inventory for future mailings and especially prior to the next increase that is sure to come.
8. Diversification - we have always been flexible and constantly searching for products and services that complement what we already offer. Some services that once produced thousands in income a month now produce hundreds, some services that produced thousands are no longer offered, this is simply the ebb and flo of the marketplace. But because we have been constantly researched and discovered new service or product vendors, we have been able to maintain our level of sales and so far this year our revenue is slightly ahead of last.
Remember, Benjamin Franklin's saying, a Penny saved is a Penny earned and whether it is pennies or dollars, this proverb still holds true today in business or personal finance.
Hope this list of suggestions, based on my own experience, will help others weather the current economic storm.
Your comments and or ideas are welcomed.
Ron Coble
http://www.importexporthelp.com/
I have always operated my small business with the mindset of "is this expenditure justified"?
I do not believe that "one size fits all" and that conducting your business or personal life in an exact manner as someone else does theirs will result in the same of similar conclusions. However, by trying to maintain a frugal approach to doing business, we have never gone into debt for the business and this has helped the business through various low periods, including the one we are currently experiencing.
Here is a short list of things I routinely do (or have done) in my business that have helped conserve revenue include:
1. Shopping for office supplies at dollar stores.
2. Reviewing the sales flyers from office supply stores for sales on items that may not be available at dollar stores - I found an incredible deal on an new laser printer last winter after Christmas that was less expensive than buying a new toner cartridge for the old printer.
3. Consolidating trips - try to schedule as many of your local trips to the bank, office supply store (dollar store) or other business related travels into one or two days a week.
4. Get rid of your dedicated fax line (if you can) - I saved about $4-500 a year by getting rid of the dedicated land line for receiving fax messages - I found a service that provides a "dedicated" 10-digit fax phone number for our business (without extensions) that costs only $34 the first year and $24 each "year" thereafter.
When someone sends a fax to our number, it is translated into a PDF document and emailed directly to our email inbox. I can then open it, read it and print it out (if necessary) - most of the time it does not require printing so it is simply stored on the PC hard drive.
This also has saved us on paper costs since we used to receive daily spam fax messages which were a total waste of paper (and time).
5. Using credit cards that provide a rebate on all purchases.
6. Taking advantage of online shopping for business services or products - I saved $70 this past Winter when shopping for tax prep software - I found an Amazon vendor who had it for half the price, then Amazon had a special deal on opening a credit card with them which gave us $30 against our first purchase and we ended up getting the $75 software for $5 and it included free shipping.
7. This one is something we actually did about 5 years ago - our business was based primarily on direct mail from 1988 through 1998 - we used to spend thousands of dollars a year on paper, printing, envelopes and postage. As our Internet marketing expanded we also saw a steady decrease in the ROI from direct mail.
Approximately 5 years ago, we ceased using any direct mail as email and our web site had tripled our revenue from what direct mail had ever achieved. Electronic marketing is saving a lot of trees. ** One suggestion I would have for a business that is still utilizing direct mail is if they do not mail enough to warrant a bulk mail permit, I would be buying the "forever" stamps to inventory for future mailings and especially prior to the next increase that is sure to come.
8. Diversification - we have always been flexible and constantly searching for products and services that complement what we already offer. Some services that once produced thousands in income a month now produce hundreds, some services that produced thousands are no longer offered, this is simply the ebb and flo of the marketplace. But because we have been constantly researched and discovered new service or product vendors, we have been able to maintain our level of sales and so far this year our revenue is slightly ahead of last.
Remember, Benjamin Franklin's saying, a Penny saved is a Penny earned and whether it is pennies or dollars, this proverb still holds true today in business or personal finance.
Hope this list of suggestions, based on my own experience, will help others weather the current economic storm.
Your comments and or ideas are welcomed.
Ron Coble
http://www.importexporthelp.com/
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