The act of cutting back on unnecessary finances is fine art in itself. Regardless of your specific business, every company needs a productive social media campaign, and this can be something that you might not consider to be an expense, especially with regards to the fact that social media, in all of its various forms, is free. However, when you are working on a social media campaign, you need the right person, as well as the right back office functions. And so, if you are struggling in a financial sense, it’s imperative that you push to get these to the forefront, and cut back on unnecessary expenditure, which is what exactly?
Before you start cutting your workers’ hours, and destroying your workplace culture, you don’t necessarily need to reduce everything about your workforce. You could end up hiring freelancers to do the basic menial tasks, and this could include your social media campaign, but also, you should think about your professional image, and if cutting your budget is going to harm this. Ultimately, you need to maintain a professional image, and outsourcing is something that works very well in this respect, especially in relation to the most basic of business tasks, like making the most of virtual office services to ensure that your clients are met with a professional service. When it comes to maintaining an image, you can outsource specific tasks, but also, by hiring freelancers or outsourcing contractors, you will still get the job done at a fraction of the cost.
Petty Cash And Lunch Expenses
It can feel like one of the perks of working in a startup, especially from the perspective of the staff, but you are buying pizza for everyone every day of the week, the costs can soon add up. Likewise, if you are dipping into petty cash to pay for lunch with an important potential client, these are, let’s face it, unnecessary costs. If you are really scraping by, but you feel that your workplace culture is going to suffer as a result, then you need to reassess your priorities. Pizza is a great thing for the team, but it’s not the gel that binds them together, is it?
Maximizing Your Time
And, of course, time is money. But have you ever done the math, and figured out how much time is wasted, due to downtime, and how this translates into a financial figure? This could be the shock of a lifetime, especially if you are struggling to keep yourself above board. Instead, looking at your resources, and pooling them, as well as understanding the most proficient money saving methods, from driving across town, or how much electricity one computer uses, you can make certain concessions to offset these. Taking public transport or encouraging remote working are two things that can help trim the fat, in a financial sense.
Social media campaigns are quite an expense, but it is an essential one in today’s marketplace. As a result, most startups place an over-reliance on social media to deliver the goods, and with good reason. It costs money to make a great campaign, so make sure you have the means.
Cover Image: Flickr