People (and our young entrepreneurs) concentrating on big things many a times lose focus on small things which they may realize later and not in a position to undo the damages. Below is a small compilation of little things that could help many budding entrepreneurs. In fact it could help anyone.
1. Auto-pay your utility bills like telephone bill, electricity bill, and water bill via credit card. This saves your time and avoids big late payment charges.
2. In continuation to the above point if auto-pay option is not available due to some inevitable reasons (no credit card or vendor won’t accept it) requires you to pay bill manually by visiting a nearby collection center. Sometimes you may have to wait in a big queue. In this situation pay in excess 3 months or 6 months bill (works very well for small bill amount). This saves your time and sometimes avoids big late payment charges.
3. If you are getting bulk order discounts on regular consumables then buy them enough for 3 months or 6 months instead of for a month. This saves your time and postpones the buying cycle, and thereby it avoids frequent focus on exhaustion of consumables. This may save some money as well. Note that overbuying, unnecessary buying, or unplanned buying has a negative effect.
4. Get quotes from many vendors before buying any product (works very well for big volumes). You will understand more about the quality, quantity, and price associated with a product and thus helps you in making a better decision. You will end up saving money now and may be in the future.
5. Sell unwanted things as soon as possible. Keeping them with you may take a lot of your real estate (you may be paying high rent). As mentioned in the above point get quotes from many and sell off at the best price (even though you may be under a loss). Utilize that money in a better manner.
6. Ask for a discount or wholesale price from a confirmed vendor. Vendors don’t advertise it. In some cases you will save some money.
7. Always avoid paying finance charges, late payment charges, or any similar charges. Many times you may save some money by just giving a small attention towards them.
8. Unsubscribe from unnecessary and redundant subscriptions like high-speed broadband, telephone lines, etc. In certain cases you may consider downgrading a subscription based on your usage. In both cases you may save some money.
9. Analyze advertising campaigns or similar activities regularly for the return on investment. Always look for alternatives since you find a better return on investment in them. This may incur testing cost but in many cases it saves a lot of money in the long-run.
Usually everybody acts deliberately while making big decisions. It’s important to analyze the benefits while trading among time, money, effort, or some other resource based on the situation at hand.