If you’re a tradie business owner in Australia, then you know that costs can quickly add up. Here are some tips to help reduce costs and keep your business running smoothly.
1. Outsource non-essential functions
When it comes to running a tradie business, there are a lot of essential functions that need to be carried out in order for the business to be successful. However, there are also a number of non-essential functions that can be outsourced in order to reduce costs. By outsourcing these functions, businesses can focus on their core competencies and improve their bottom line.
Someof these non-essential functions you can outsource includes:
- Accounting
- Digital Marketing
- Website Management and Development
- Administrative Tasks
- Customer Service
Want to learn more about these? Talk to MIKE.
2. Cut back on utilities
Are you a tradie business owner who is looking for ways to reduce your expenses? If so, you may want to take a look at your utility bills. There are many ways to cut back on utilities and save money in the process.
- Request an Energy Audit
- Optimise your HVAC system
- Install low-flow-faucet aerators to save on water
- Use power save whenever possible
- Maximise natural daylight
- Apply motion detectors
Want to know more tips on how you can cut back on your utilities? Click here.
3. Boost the value perception of your tradie services
If you’re a tradie, you know that the quality of your services is reflected in your rates. While this may be fair, it can also make it difficult to find customers willing to pay your asking price. One way to combat this is by boosting the value perception of your services. In other words, convince potential clients that they’re getting good value for their money. By doing so, you may be able to reduce your costs without compromising on quality.
Here are a few tips to help get you started.
1) Make sure your pricing is competitive
2) Focus on quality and customer satisfaction
3) Provide clear and accurate estimates
4) Stay up-to-date with industry trends
Mike has more tips to offer you. Schedule an appointment with him.
4. Embrace Technology
The business world is changing rapidly and keeping up with the latest advancements by harnessing technology will result in significant reduction of operational costs. With recent changes such as automation, it’s time for your company to update their processes so they can be more efficient than ever before.
Using online banking tools and controls, you can better control most of your company’s expenses by spending a little time. Set the authority to approve all expenditures while restrict others using automated entitlements that are only valid for strategic or high-value expense categories–this will greatly help keep your costs down!
5. Make use of social media as an economically friendly marketing tool
Are you looking for a way to market your business on a budget? If so, social media is the perfect option for you.
Social media platforms like Facebook and Instagram are free to use, and they offer a variety of tools that you can use to reach new customers and grow your business.
So what are you waiting for? Start using social media today to promote your business! Let’s talk.
What We Have To Say
Reducing costs doesn’t have to be difficult or unpleasant. In fact, many of the measures businesses can take to cut back on expenses are easy and painless. Outsourcing non-essential functions, cutting back on utilities, boosting value perception of products or services, moving your accounting to the cloud, and making use of social media as an economically friendly marketing tool are all great ways to reduce costs without sacrificing quality or customer service.
If you would like more information about how MIKE can help tradie businesses save money and run more efficiently, please don’t hesitate to contact us. We would be happy to schedule a consultation with you and help get your business on the path to success.
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