Ten Cost-Cutters for Businesses Milwaukee WI

It has been said that the best things in life are free. This could be true in business as well.

As businesses downsize and unemployment mounts, many companies are trying to trim costs before laying off employees, which reduces potential productivity, adds the expense of paying unemployment and can lower company morale. Here are 10 cost-cutting measures that businesses can use to conserve cash and increase productivity.

1. Capital: Free money almost always comes with strings attached. But if you really need capital, here are some ways to get cash, for a limited time or a small fee:

• Peer-to-peer (P2P) lending is a way to find private lenders who will lend money in exchange for equity or some other security. Prosper.com is one source. 
• Microlending groups offer business loans at very low rates. These are not exactly free, but they come close.
• Most anyone with a good credit score and a mailbox knows that many credit cards offer introductory zero-percent interest rates, usually for six months to a year. These cards can be a short-term solution for funding limited purchases, but not advisable if you don't foresee being able to pay them off in a short period. 

2. Labor: If the nature of your business permits it, creating an internship program is an excellent source of cheap—or free—labor. Arranging with local schools to provide interns with course credit is especially effective in attracting unpaid interns. Enrollment is expected to increase as people young and old seek to ride out the downturn while expanding their knowledge, which could mean a larger pool of potential interns. Outsourcing is another way to find inexpensive labor. You can find workers at bidding sites, such as Elance.com. These days, workers in third-world countries aren't the only ones bidding low—Americans are bidding as low as $4 an hour, too.

Successful business owners who want to give back to the communtiy may offer free coaching 3. Business coaching: You can pay hundreds of dollars an hour to hire a business coach—or you can find one for free at SCORE, an organization of successful entrepreneurs who want to give back. SCORE's advisors meet "clients" in their place of business, on the phone, online or at a coffee shop. They come from a variety of skills and industries, so you are likely to find one that fits your business. Find a local chapter at Score.org.

4. Internet marketing: In this economy, the name of the game is marketing, marketing, marketing. And the name of the marketing game is the Web, the Web, the Web. If you don't know how to maximize your internet marketing, you can get free training at local continuing education colleges or online. Many adult education centers offer free classes. You can also take online courses or teleseminars on skills related to Internet marketing, including wr...

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