Streamlining Your Business to Save Money
There are so many ways that you can save money in your business. That’s why it’s important to do a regular review of what you are spending and where you can cut costs.
I’m not talking about being scared to spend money to grow your business. They are so many things that you can purchase that will save you time, educate you and help grow your business. But there are lots of ways your business can become more profitable.
I recommend you work through my handy checklist and see if there is anything you can change in your business.
Note: I am not necessarily advising you to stop spending money on these things, but in some cases, you should be addressing how you use them to make sure you are getting the full value from them.
Do you monitor your ROI for paid advertising? Are you taking the time to look at the cost per lead and then the cost per customer conversion?
If the answer is no, then you could be wasting a lot of money.
You might be delighted that you are getting clicks on a blog post for only a few cent, but are these clicks turning into customers? Or does the website traffic just make you feel good?
Make sure you monitor every bit of paid advertising and the ROI it gives you.
Also, squeeze every bit out of these visitors – for example, retarget them with other offers, get them on your email list.
Don’t be afraid to move hosting if you can get a better deal elsewhere. There are always offers on for hosting and it’s relatively easy to move your website.
Make sure you are hosting with someone with good tech support so it’s not costing you money if your website gets hacked or you have general hosting issues.
I would recommend having someone on standby to help with hosting issues – it generally saves you money in the long run if something goes wrong.
Your website is the hub of your business and should be your number one priority. If you are paying monthly charges for your website I would consider switching to a website that you own and investing that money you have been paying monthly into making sure your website converts when customers visit it.
There are so many free plugins, free images online, guides to creating a website that you can now own your own website relatively cheaply.
Have you got a good system in place to convert your leads to customers? Are you monitoring those conversions?
If you have staff that answers the phone for you then do you provide them with a phone script to help them guide the customer to a sale.
Do they know how to answer objections and make sure you are converting as many enquiries as possible?
Do you give them a tracker to complete to make sure that they are following up on the leads that they speak with?
You absolutely need scheduling software for your business. But make sure you are using it fully to save yourself money.
Are you allowing the system to automatically invoice and collect payments or are you manually running credit card charges?
Are you letting your staff manage their own schedule using the system or are you manually adjusting their routes for them?
Are you making customer enter their own pet care information or are you doing it for them?
Are you adding visits for your customers or do you empower them to do it?
IMPORTANT – you might think that it only takes a couple of hours of your own time to do these things for other people each day BUT if you had to pay someone else to do them then it’s now costing you money.
We can feel like we are constantly hiring new people and every time we do we take up more of our valuable time.
Consider automating the first part of your hiring process so that you only sit down and meet with serious applicants.
You could introduce an online test, have them submit a video application, hire a screening company. Some of this might cost, but it can save you money long term and hopefully mean you only sit down with real potential hires!
Are you making constant changes to your staff’s schedules to accommodate their holidays, their other jobs and their family?
Hire staff that fits into your business model and not the other way around.
Revisit the working hours you are offering, your time off policy and the cover you need from people you hire to make scheduling job easier and less time-consuming.
If you have office staff, then it’s good to review the tasks that they are carrying out to see if they can be streamlined and made more efficient.
Make sure that everyone is working as efficiently as possible and free up time to do other more productive things.
Just because you have done something a certain way for years doesn’t mean that you shouldn’t change it. IN FACT, it probably means you definitely need to change it.
Do you regularly review the effectiveness of what you are outsourcing?
For example, if you are hiring someone to blog for you do you check the number of visits that blog post receives organically each month? Do you check how people engaged with it on Social Media?
If you hire someone to manage your social media do you check the engagements levels since they took over? Are you monitoring the leads that are coming in from their activity? Are you watching to see if people love what they are sharing?
We have access to so many analytics now that we can measure everything. So if you are paying for a service then make sure you are getting a result from it.
Don’t just tick it off your list as a job done and forget to measure whether it’s a job well done!
Are you constantly purchasing poo bags, uniforms, and other staff supplies?
How are you monitoring the use of these?
Consider asking customers to leave poo bags! That could be a big saving over the year to invest in thanking your customers instead!
If you have a large email list, then you are probably paying for something like MailChimp or Aweber. If you are then make sure that you are using it to its full potential and make sure you clean your list regularly so that you are not paying to have leads on there that never open your emails.
Make sure you are sending your list the following on a regular basis:
- Blog Posts
We can all be guilty of buying the newest book or training as soon as they come out. But before you do that why not look at all the other books and trainings that are gathering dust that you could read and then implement the teachings into your business.
What is your process for reading a book or doing a training? Do you aim to implement at least one thing from what you read?
Are you subscribed to things you are not using? Get a copy of 1 month’s bank, credit card, and PayPal statements and check for any subscriptions you are not using.
Some of these might only be a few dollars a month but if you aren’t using them then cancel them.
Are you driving too far each day?
When was the last time you looked at your monthly fuel bill for yourself and your staff (if you pay travel expenses.)
With fuel prices constantly rising then it’s always good to revisit how far people are traveling for visits.
If you have clients that are on the edge of your service area, then you could introduce a surcharge for travel or hire someone local in that area.