Simple ways to save money as a self-employed

Brought to you by SoBeCoWorks

Its not that hard and fairly logical

So you’ve started a business. Maybe you’re a sole prop or you have a few employees. It gets tougher and tougher as you grow and move forward in your business. Bills come in, money goes out and at the end of the month, you have way less money than you thought you would.

Make use of a CoWorking space

You may be working from home or a coffee shop, but studies have shown that working alone can have negative affects on your body and mental state¹.
While working at home may be cheaper, depending on your situation, you may not be getting enough work done because of interruptions from family, friends & neighbors.
Find a CoWorking space that fits your needs and start using it. Plus, it’s a tax deduction at the end of the year.

Update your software and OS to Linux

Yes, Linux sounds very scary and at one point it was, but it has come a very long way and is completely compatible with all the Microsoft tools you will need to run your business.

A short list of Linux software and it’s Windows counterpart:

LibreOffice – MicroSoft Office: Complete with a word processor, spreadsheet, slideshow creator, database management and a draw program, all compatible with Office.
KMyMoney – Microsoft Money
QuickBooks – GNUCash: In all honesty, not an exact match, but does read QB files.
Adobe Photoshop – GIMP
Adobe Premiere – KDENlive
and much more

Now, some of these are NOT exact matches, but I have been using Linux to run my business for the last 15+ years and have had no issues.
On the other hand, if you are a serious gamer, then Linux may not be your best option as it is behind the 8 ball when it comes to gaming. But, if you are a real hardcore gamer, keep your Windows machine for gaming and switch your business to Linux and save hundreds, if not thousands every year.
Oh, did I mention that Linux and 99.99% of it’s software is free?

Keep a tight reign on spending

I’m not talking about becoming a miser here, I’m talking about scaling back, trimming excess. Remember: The less you spend, the more income goes to your bottom line profits.
Even those morning Starbucks coffees really add up. Consider making them at home and saving all that moolah. Trim wherever you can and for things that you don’t like to do or are not good at…

Subcontract it out

Don’t bring in full-time or even part-time employees at the early stages or even after you are settled as a business. You can even use remote workers for a lot of your sub-contracted work so you won’t even need more space.