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Lean Entrepreneur: 10 Money-Saving Resources

Lean Entrepreneur: 10 Money-Saving Resources

If you want to be a lean entrepreneur, you must memorize this immortal quote.

“It’s not what you MAKE.. it’s what you KEEP”.

We’ve all heard entrepreneurs say things like, “my business did $3 million last year”. But what they don’t mention is how much PROFIT their business made.

Profit is the name of the game. And I’m a big fan of keeping your expenses down as low as possible.

Here are a few quick tips/resources to help you stay lean.. and profitable!

#1. Profit First
Every business owner and entrepreneur MUST read this book, Profit First, by Mike Michalwicz. It’ll transform the way you run your business and, in turn, create more profit!


#2. Coupons with Goodshop

Goodshop is a great site that’s been around for over a decade. You simply download Gumdrop, get coupons from thousands of merchants and save money. But what I love just as much as saving money, is the fact half their profits go directly to charity. That’s a win/win my friend!


#3. Outsource
Rather than looking to immediately hire full-time people, think “outsource”. And look for people to hire on a project-by-project basis. Check out marketplaces like the Freedym Marketplace for marketing help, Upwork for programmers, and 99Designs for graphic designers.

For smaller, less high-value tasks, Fiverr has some bargains for $5.


#4. Office Space on Demand

In many cases, you can run your entire business “virtually”. So before you invest in long-term, multi-year office space leases, look for low-cost or free options.

Yes, coffee shops, book stores and even libraries offer free wifi and a space for you to get out of the house (with four kids, I need to leave the house to get some work done!).

And even if you need temporary meeting space, check out places like peerspace, liquidspace or any of the hundreds of co-working space offering meeting rooms on an hourly basis.


#5. Think FREE!

You’d be amazed at all the FREE resources you can use to run your business. Here are just a few.

Google Drive: Free online documents, spreadsheets and presentation programs that are sharable.

Slack: Powerful communication tool to run everything from projects to an entire virtual team

Zoom: Free online meeting software. Great for online classes, interviews and more!
We’ll cover more tips in future articles and videos.

You a lean entrepreneur? Absolutely!

You got this.

-Ryan

P.S. If you have a good FREE or low-cost resource, please share below in the comments!

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