We have found less obvious ways to achieve financial stability and savings for small business and craft owners in times of inflation.
Ask for advance payment
It is unnecessary to emphasize how much advance payment helps in the operational business of micro-entrepreneurs. It should also be noted that clients who have a serious intention to work with you will not have a problem paying a previously agreed percentage of the amount in advance. An advance is also good as a kind of risk reduction measure when accepting engagements from new, previously unverified partners.
Choose digital marketing
There is hardly a business or craft that does not require marketing activities. With a limited advertising budget, it is best to focus on optimizing your website for sales, selecting the right social media platforms where potential clientele is active, building an email list, and collaborating with micro-influencers from your niche. Familiarize yourself with the key metrics of digital marketing and how to monitor them regularly.
Reassess ‘fixed’ monthly costs
Monthly subscriptions and fixed fees are costs that you take for granted, often without considering whether they can be reduced. Subscriptions to cloud services that have proven unhelpful, unused benefit packages at the bank, or the cost of fixed internet that could be lower… All can bring significant savings and redirect funds to more valuable items.
Ask clients for referrals
Today, it is not unusual to ask a satisfied client for a rating or review on Google, social media, or website. You have likely experienced this yourself as a client when visiting a restaurant or private practice. Positive ratings from other users are something we all pay attention to in our web searches. With a little effort and reminders, it is not difficult to obtain good reviews from real users. Especially not if you are doing your job excellently.
