We all know the sayings “time is money” and when it comes to any business, time and money are two of the most essential and necessary things for it to thrive. Nowadays, it’s fairly easy to start and run a small business thanks to the advance in technology and the many tools it provides to do so. Businesses today favor small and graceful over big and clumsy, and technology can help greatly with that. However, not everything is that easy when you don’t know where to start, which is why we made this list with five easy-to-follow tips to save your business time and money.

Going green

This is probably the most important point. Going paperless and energy efficient will not only help the environment but also your business. For instance, having electronic copies of your finances makes information retrieval much easier and faster through a computer. Sending receipts to your customers via email will save you and them paper cluttering. Even the simplest things like replacing your old light bulbs with compact fluorescent lighting or LED bulbs can make a huge difference. An online employee management tool replaces paper timesheets, resolve how employees pick up shifts and how they log their hours. These tips and more will make tasks more efficient and will save you time to focus on more important aspects.

Cloud computing

Cloud computing saves you the worry about hardware and doesn’t require maintenance. It doesn’t occupy space and it’s not vulnerable to physical damage. Also, with cloud computing you only pay for the space you need, so if you need more, you simply purchase as much as you need. In conclusion, the need to pay for floor space is eliminated along with your need for office space altogether.

Good treatment and motivation for employees

Distracted, stressed and unmotivated employees will cost you time and money. Encourage productivity and friendly competition with awards. Further motivate your employees by giving them autonomy. They are ready for more tasks because they will want to rise to the challenge. Another way of increasing autonomy is by encouraging your employees to propose ideas for the company or by creating programs where they will have the opportunity to create and ideate in order to set a new business paradigm.

Take your marketing efforts to social media

Save money on advertising costs by using free social media platforms to market your business. You can even stay more organized and save more time by scheduling email responses and posts on your platforms of choice. Social media is an excellent way to reach a broad demographic of customers, put yourself on the map and increase brand loyalty. Check out our post on how to carry out a successful social media campaign.

Bartering

This well-known, ancient practice has proven to be timeless and extremely efficient. Let’s say you have a home/business painting business and you need a webpage to start your online business campaign. Pick up the phone or do some online research for webpage designers, and offer your services in exchange for what you need. For this practice to succeed, both parties must fulfill their obligations. Before committing to someone you don’t know, do your research and establish specific timelines. If everything works out great, you’ll have not only saved yourself money on services but you will have also built a valuable relationship with another business! Take these small but big recommendations to save yourself and your business money and time, and increase profit in the long-run.