3 Ways to Grow an Online Business While Cutting Costs

Starting a blog is one of the easiest ways to go live with a business of your own. In comparison to what it would take to start a company in previous years, times have drastically changed. Here are just a few things you would need to consider if you wanted to start a business of your own just 10-15 years ago.

  • A business plan + business loan
  • A physical office or storefront
  • A team of employees around you
  • Business insurance and employee health insurance
  • College experience, bank loan and a perfect credit score

Now it’s dead-simple for anyone to start a business online, and the costs associated with it are quite minimal. Even though many bloggers don’t go on to become huge businesses, the concept of starting a business online is very legit. In fact, most media companies still don’t need to have many of the components listed above, as many of their workers might be freelance, working remotely and have no need or purpose to work out of a physical location.

With all of that in mind, let’s take a look at how different online services have changed the way businesses are formed in the world today through the power of the internet and eliminating excess costs and infrastructure.

Grow Your Small Business Online

Co-Working Spaces without the High Costs

While most websites and blogs are a one-man operation, plenty of startups and businesses start out with a small team and scale in size over time. No matter how big or small a company might be, managing costs is always key to longterm success.

Gone are the days when you need to rent out a whole floor of an office building or have expensive rental deals you need to worry about each month. Through services like Deskhub.com, co-working spaces are quite affordable. Similar services like Deskhub are popping up across the country, as they are quickly become a great way for organizations to grow in size, but not have the massive commitment of renting out a full office space. Deskhub currently has co-working spaces in Phoenix, Portland, Salt Lake City, San Diego and Scottsdale.

No Need for In-House Writers or Marketing Teams

One of the biggest frustrations when building a company, is the need to hire employees and increasing company debt. While every business is going to need to scale in size and increase their team, there really is no longer a need to bring in the excess costs associated with having a physical location, hiring full-time employees and providing them with health benefits.

Now it’s way too easy to find freelance experts online. This is especially true for anyone who is already working in the writing, blogging and social media space. Nearly all positions for these jobs can be accomplished through “at home” work.

When it comes time to find freelance writers that might be a good fit for your business, all you need to do is visit a site like UpWork or search through Google for the top job boards in your industry. The freelance writing business has actually become such an attractive one to start, that we are continually seeing new businesses based around the concept of outsourced writing, for both business and student education.

Software Automation is Quickly Removing Costs and Jobs

When you look at the bullet points we covered at the beginning of the post, some of them might not have even come into mind if you never had to go through the process of starting an offline business. As technology continues to advance and automate more tasks than ever thought possible, it’s also eliminating excess costs and wasted time and resources for businesses as well.

A few examples of this can be seen below.

  • Video Conferencing – Many of us are already using services like GoToWebinar and Skype to connect with others throughout the world. This is killing the need for in-person meetings and the requirements of business travel.
  • Sending a Fax – No one really uses fax machines anymore, but if you need to send one. HelloFax.com makes the process cheap and easy.
  • Easy Invoicing – Accountants are still important and someone most businesses will need at the end of the year. However, there is no need for excess costs of an in-house accountant or invoicing team. There are simply way too many low-cost solutions out there (such as Freshbooks) for automating and storing all important data.
  • HR & Hiring Teams – When it comes to hiring talent for your business, the Human Resources and in-house hiring team is usually who you would have to take with. Now it’s all about using social media and LinkedIn to build up a powerful resume and clicking a few buttons to apply for your next potential job.

As we continue to see the internet and technology grow and develop over the next several years, we are also going to see more ‘traditional’ jobs become a thing of the paste. While the benefit here is great for businesses’ bottom line, it’s also important to make sure your own job and expertise doesn’t get outsourced in the process.

Right Now is the Best Time to Grow and Scale Your Business

Whether you are a blogger, affiliate marketer or on your way with a new start-up, right now is the best time to take advantage of these money saving tips to grow and scale your business. There is only so much time you will have to compete in such an active and fast growing industry like we are seeing on the internet today.

Blogging is great, but can you be doing a lot more?

Look at your options in freelance writing, automation for outreach and promotions, scaling to a bigger team and much more. No matter your budget or expertise, there has never been a better time to grow a business in the world today.

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