10 Tools To Help You Save Money As A Business Owner
As a business owner, time is one of your most valuable assets and you want to make sure you are spending the bulk of your time on the right types of activities – activities that will save you money and contribute to you making more money.
Unfortunately many business owners end up spending way too much time on administrative activities and overly expensive tools that don’t save or make them any money.
While administrative tasks are important to the success of your business and should not be avoided, they can be done more effectively both time and cost wise. The more effectively you can get your administrative tasks done, the more time you can spend in your zone of genius - creating your products and services for your potential clients - which will in turn make you money.
It’s pretty obvious that proper or improper time management has a direct impact on your business finances and so below I am sharing a few tools and resources for you to consider leveraging in order to ensure you are managing your time in the most effective way. These tools and resources can also potentially help earn you lots of money and who doesn’t want that!
While I share a few examples in this blog post, you definitely want to do your own research, ask other business owners about their favorite resources and find out which ones work best for you.
10 Tools & Resources To Help You Save Money As A Business Owner
1 - Calendar management and scheduling tools
These type of tools are essential if you have any sort of service based business or work with a team because they eliminate a ton of unnecessary emails and back and forth when it comes to scheduling meetings or consultations.
You make certain times on your calendar available, share the booking links and people who need to meet with you can schedule time on their own based on your availability. Many of these tools can also include contracts and accept payments.
2 - Online payment collection tools
As we become more and more of a cashless society and more and more business transactions are done online, you must have an online payment tool integrated into your business even if you are a brick and mortar business.
3 - Online accounting & invoicing tools
Being on top of your business finances is critical to the success of your business and as your business grows managing your business finances may get more complex. This is where online accounting tools (and a great accountant) come into play.
4 - Project and task management tools
If you have a team, work with multiple clients, work on multiple projects and/or have tasks and activities you need to keep track of, then having a project or task management tool will save you a ton of time and make sure you don’t miss any critical steps or processes that could impact your business.
5 - Overall business management tools
Overall business management tools are very powerful because they help you manage your business activities end to end and are more robust that a typical scheduling tool. They help you manage appointments, contracts, contacts, invoices, email, projects and so much more all in one place.
6 - Email reminder tools
How many times have you forgotten to follow up on an email because you simply forgot about it or you didn’t flag it? Email reminder tools allow you to flag the email as soon as you get it and set it to show up at the top of your mailbox when you are ready to follow up. Now how great is that!
Tool examples: Boomeranggmail.com
7 - Mailing list management & email marketing tools
To stay in touch with your existing and potential customers, send newsletters and new product or service updates and/or to see stats around how effective your communications are, you need to have some sort of mailing list management in place.
8 - Social media management apps
If you are have multiple social media accounts you know how time consuming they can be to keep up with and manage. Save yourself some time by planning out and scheduling your social media content in advance.
9 - Virtual receptionists, Virtual Assistants etc
Because as your business expands you are going to need to spend less time answering the phone, taking messages and checking email. Hand it off to someone else you can create a solid system around it!
10 - Graphic and web design Freelancers
If graphic or web design is not your strong suite, then you certainly want to consider handing this off to someone who can do a better and more professional job than you. Plus they will save you from the stress and time of trying to figure it out all by yourself.
- How to be successful managing your business finances
- 5 Key things every serious business owner should have as part of their business model
- Understanding your business expenses as a new business owner
- 9 Financial Mistakes to avoid as a business owner
- How to pay yourself a salary as a small business owner
- 10 Tools to help you save money as a business owner
Bola Sokunbi is the founder of Clever Girl Finance and she's passionate about helping women take control of their money so they can live life on their own terms.