If you’re like most successful corporate brand owners, one of your main goals is making enough money to live the lifestyle you desire. And a close second to making money is saving money. Today I’m talking about how making efforts to save money can increase the net income for your brand.
I understand that £30 might not seem like a lot of money, especially if you’re bringing in £30,000 per month, but remember, all of your money-saving efforts will add up, impressively, if you apply the principles listed here.
I guarantee there are ways to save money that you haven’t thought about. I know that Miles and I only discovered our biggest savings after some creative thinking and plenty of willingness to step out of our comfort zones.
A Corporate Brand that Spends Wisely
Here are some things I suggest for positively affecting the bottom line of your corporate brand:
- Ask for discounts. Particularly in the areas where you spend the most money, don’t be shy about asking for price breaks. Do you buy a lot of printer ink, cardboard boxes, or stationery every month? Are you a returning customer? Are you paying in advance? Any of these scenarios are ones in which it makes perfect sense to request special treatment, in the form of a discount. Don’t make demands, but rather, request politely and be willing to negotiate. Never forget that money saved, no matter how small the amount, equals money earned.
- Eliminate the unnecessary. Are you paying people to complete tasks that could be accomplished with an automated system? Whether you’re supporting an employee who isn’t doing the best job or you’re simply paying too much for something you can accomplish for less (or free), look into your options. For many of you, this will require stepping outside of your comfort zone, as well as an initial investment of time. However, once in place, you’ll have more time – and more money – to spend on the parts of your business that you love the most. Of course, this doesn’t mean you can forget about the aspects you’re automating. Tracking and management will still be necessary, but overall, your business life will be more efficient and simpler all around.
- Look at where your marketing dollars are going. In this, the age of the social media revolution, there are so many online marketing options that are either low-cost or free that you simply can’t afford to be paying for old-fashioned marketing. Not only will you save money when you evaluate and trim ineffective marketing, I believe you’ll be amazed at just how beneficial a social media campaign can be for your corporate brand.
Some tips for building your brand are simple to implement, whilst others will require some effort and generous doses of nerve and verve. If you want your corporate brand to thrive, stay tuned for more advice from How to Build a Brand. Or if you have specific questions for us, message us through Facebook or email us on [email protected]