Do you ever wonder where all the money goes?
That hard-earned revenue that makes it possible for you to call yourself a business owner and not a hobbyist.
To be honest, somedays, it may feel like the money leaves as quickly as it comes into your business. You have just enough time to do a little happy dance to celebrate and the next thing you know, there’s a bill to be paid.
I know you’re a savvy business owner, so no doubt you’ve tried a few ways to improve your bottom line.
And for many solo entrepreneurs just like you and me, it seems like an ongoing challenge.
What I know after spending almost 20 years running my own business is how easy it can be to lose track of your money.
Things get busy … or you don’t pay attention … or you just don’t want to think about the money in your business … for whatever reason.
I see this so often with my clients and even my fellow business buddies.
And I was there too … not so many years ago.
What I learned is …
Managing your money is the most important and impactful thing you can do for your business.
Money is the lifeblood that separates a profitable business that thrives, from a struggling business that’s just trying to make ends meet.
There’s one area I see all the time where people are overspending in their business … and this on their tech tools.
In this video, I’m going to share with you three simple things you can do to save money on the tech tools you use to run your business.
First, get rid of the apps and tools you no longer use. This may seem like a no-brainer, but I can tell you I see it all the time. Apps and tools collecting dust while my clients keep paying for them. And when you don’t have your eye on your expenses these charges can go unnoticed for quite some time … and they add up.
Second, consolidate your tech tools. Sometimes one tool can do double duty. For example, I was using a mileage tracker app but got rid of it (and the annual fee) when QuickBooks came in and offered it as well. Same goes for Dropbox and Google Drive. Choose one cloud solution and get rid of the cost.
Finally, always opt for the annual subscription fee. The caveat of course is to try out the tool first and make sure it’s the right fit, before committing to a long-term subscription plan. Also, it’s a good idea to set a reminder in your calendar a month before the annual subscription is due, to check in with your operations and make sure it’s still a good fit. That way you won’t be automatically charged for another year if the tool no longer serves your business needs.
Doing these simple three things … getting rid of the apps you no longer use, consolidating your tools and opting for the annual subscription … will bring your tech expenses under control.