“The individual most accountable for your future financial welfare is the one you see in the mirror today."
-Kemberly Wardlaw, from The Hawk and the Mouse

In the previous Tracker Tips E-Newsletter, titled Money-Saving Tips – Part I, we introduced some ideas on different topics that can promote saving money for your business. If you did not receive that article, you can view it by visiting www.trackerenterprises.com, then clicking on the E-Newsletter Library button, then scrolling down to “Money-Saving Tips – Part I,” and then clicking on it.

We will continue our discussion on various ideas that might save you a few dollars. The item numbers are continued (e.g., we ended with item #7 in the last discussion; we will start with item #8 today).

Topic II - Internet Ideas

8. Spread your message to the world. Are you letting people know what your URL is? A URL is an acronym for "Uniform Resource Locator." This is the address of your web site on the Internet. World Wide Web URLs begin with http://. Try putting it on your letterhead and business cards, wherever potential visitors are likely to see it. Include it on employee uniforms, any promotional items you give away, all press releases, in your Yellow Pages ad, etc. Do the same with your e-mail address. The cost of adding this information to any of your promotional materials is NOTHING. If you do not have an Internet Web site, consider building one NOW. No matter what your business, potential customers will want to learn about your business, for example, your address and phone number, a map to get to your location, your experience, testimonials from satisfied clients, services and products you provide, the biographies of you and your staff, etc.

9. Hire a virtual receptionist. Maybe, you like to have your office open from 9 to 4, Mondays through Thursdays. Maybe, you also like the savings you generate by having your receptionist answering phones only for those hours, not the typical 40-hour workweek. Maybe, you have not thought of the money you are losing by not having your phone answered when most other clients and vendors accept as a normal a 40-hour workweek. Your phone should ALWAYS be answered Monday through Friday from 8 to 5. Ideally, if you have an answering service or a virtual receptionist, your phone should be answered 24/7. This would cost you a bundle in receptionist salaries or answering service fees. Consider checking out some of the “virtual receptionist” sites on the Internet. An example is www.Onebox.com. You can get all the features you would want from a fancy phone system without the capital outlay and with nothing to install. View their demo. These services provide a great service at a low monthly fee. Usually, toll-free numbers are included at no additional cost.

Topic III - Location Logic

10. It is always nice to be home. Do not be embarrassed if you are able to use part of your home as your primary office space. Many business owners, by the nature of their businesses (e.g., your business is conducted primarily by phone or on the Internet), have the opportunity to operate out of their home but choose to rent expensive spaces with long-term leases that suck up a large portion of their profits. Do not succumb to the temptation of having a big, fancy office when you can operate at the same level from your home.

11. Get a suite deal. You do not have to rent a full-time leased space if you can run part of your business from your home and part of it from an office. Many home-based entrepreneurs find that they require a part-time executive suite that can meet a range of needs including access to a private mailbox, a receptionist to answer or forward calls to your home office, and conference room access. Sometimes, you will need to present a “storefront” appearance. Visit the Office Business Center Association International Web site for more information.

12. Be nice and share. If you do rent full-time, why are you paying for space on a 24/7 basis when you are only using it for thirty or forty hours per week. Find another business owner, with needs similar to yours, and offer to share some of the expenses, e.g., a common receptionist, rent, phone lines and equipment, printers, fax machine, certain supplies, etc. Numerous ways to structure a deal are a win-win for both parties. This can result in huge savings.

13. Don’t get stuck in the mud. While the costs of establishing a permanent retail location can be steep, kiosks and other temporary spaces can be an easier way to get a foot in the door with a lot less risk. The upfront investment for a kiosk can be a fraction of that of a permanent leased location. License agreements for carts and kiosks are short and are usually rented on a month-to-month or at most, a one-year, basis. This arrangement makes it easy for entrepreneurs to try out their idea for a short period, and if their product isn't working, shift to a new product line or close up shop and move to a new location.

What’s Next

The next few issues of Tracker Tips will continue to discuss other topics that can promote more money-saving ideas.

For a sample of how Tracker’s unique operational management and forecasting tools can help your business prepare for a successful financial future, call us at (719) 592-0878 or send an e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . Feel free to forward this Tracker Tips e-newsletter to friends, family, or business acquaintances. We welcome anyone to our mailing list, so invite colleagues to send their e-mail addresses to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

Contributions and ideas come from authors including J. Donald Weinrauch, co-author of The Frugal Marketer, Jacquelyn Lynn, Ivan R. Misner, Chris Penttila, Guen Sublette, and Laura Tiffany.