In my career as a Business Management Consultant, I’ve come to learn that running a small business is a bit like trying to ride a unicycle on a tightrope while juggling flaming torches. It’s thrilling, challenging, and every move counts. (And no, I didn’t break both of my wrists by riding a unicycle on a tightrope while juggling flaming torches.) One of the most critical aspects of maintaining balance in your business is keeping an eye on costs. After all, who wants to see their hard-earned cash disappear faster than donuts at an office meeting? Let’s dive into some cost reduction strategies that will help you keep more of your money where it belongs: in your pocket.
The Art of Pinching Pennies
Jo Rawald • July 11, 2024
COST REDUCTION STRATEGIES FOR SAVVY SMALL-BUSINESS OWNERS
I'm writing this article, sitting at my desk, with two broken wrists, drinking coffee from a bendy-straw. I had a small accident last week that left me with casts on both wrists (and they're not even matching casts), making typing and texting a challenge. Simple tasks like turning a doorknob or twisting open a water bottle cap are near impossible. Even brushing my teeth or taking a shower has become a Herculean task. But on the plus side, I've had friends and family chip in, giving me more time to strategize on improving small businesses. With all this extra time, I've been thinking a lot about Cost Reduction Strategies for Savvy Small-Business Owners.
1. Audit Your Expenses (Yes, All of Them)
First things first, take a good, hard look at your expenses. And by that, I mean everything. From the cost of office supplies to your monthly subscription to “Cat Memes Monthly.” You’d be surprised how much you’re spending on things that don’t directly contribute to your business’s success. Keep an eagle eye out for those sneaky, recurring expenses that slip through the cracks.
2. Negotiate Like a Pro
Channel your inner haggler and start negotiating with your suppliers. Whether it’s for office supplies, utilities, or even your internet service, there’s often room for a discount. Remember, the worst they can say is no, and you might end up saving a pretty penny. If you’re not negotiating, you’re leaving money on the table.
3. Go Green to Save Green
Going eco-friendly isn’t just good for the planet; it’s also good for your wallet. Switch to energy-efficient lighting, encourage employees to shut down computers when not in use, and consider remote work to save on office utilities. Plus, you’ll get the added bonus of looking like a modern, eco-conscious business owner. Win-win!
4. Outsource Non-Core Activities
Are you really the best person to handle every single task in your business? Probably not. Consider outsourcing non-core activities like bookkeeping, payroll, or even marketing. Freelancers and specialized firms can often do these tasks more efficiently and at a lower cost than trying to manage everything in-house.
5. Embrace Technology
There’s a tech solution for just about everything these days. From project management tools to customer relationship management (CRM) systems, the right technology can streamline operations and reduce costs. Invest in software that automates repetitive tasks and improves productivity. Just make sure you’re not paying for features you don’t need – because let’s face it, you don’t need a CRM that can also make you coffee.
6. Reevaluate Your Space
Do you really need that sprawling office space, or can you downsize to something more budget-friendly? With the rise of remote work, many businesses are finding they can operate just as effectively with a smaller physical footprint. If a complete move isn’t feasible, consider subleasing unused office space to other businesses.
7. Bulk Buy and Save
Whenever possible, buy in bulk. Whether it’s office supplies, raw materials, or even coffee (a small business essential), purchasing in larger quantities often comes with significant discounts. Just make sure you have the storage space, or you might end up with a mountain of paper clips and nowhere to put them.
8. Encourage Cost-Conscious Culture
Make cost-saving a team effort. Encourage your employees to come up with cost-saving ideas and reward them for their contributions. When everyone is on board, you’ll be amazed at the creative solutions your team can come up with. Plus, it fosters a sense of ownership and responsibility among your staff.
9. Review Contracts Regularly
Don’t let old contracts gather dust. Regularly review your contracts with suppliers, service providers, and even your landlord. Market rates change, and what was a great deal a few years ago might not be so hot today. Renegotiate terms where possible to ensure you’re getting the best bang for your buck.
10. Keep an Eye on Inventory
Excess inventory is like having money just sitting on a shelf. Implement inventory management practices to keep track of what you have and what you need. This will help you avoid over-ordering and reduce storage costs. A well-managed inventory system can free up cash flow and improve your bottom line.
Ready to Save Big?
Cutting costs doesn’t have to be painful or involve drastic measures. With a little creativity and some strategic thinking, you can reduce expenses without compromising the quality of your products or services.
Feeling inspired but not sure where to start? Visit me online to set up a free 30-minute Discovery Call. Let’s strategize a cost reduction plan tailored to your business, so you can keep your balance on that tightrope and juggle those flaming torches like a pro.
Let’s make saving money fun and rewarding – because every penny saved is a step closer to business success!
You ever walk into Costco for one thing, and leave wondering what the heck just happened to your life? That was me last night. All I needed was paper towels. Just one 12-pack brick of industrial absorbency, thank you very much. But the moment I stepped through those magical warehouse doors, it all unraveled. First, I saw a velvet chaise lounge I definitely don’t need. Then - it was a six-tier spice rack. A kayak. A weighted blanket. A 5-lb tub of Gummy Bears I haven’t stopped thinking about. By the time I made it to checkout, I was $312 deep in, “Maybe I’ll use this someday ” purchases. And that’s when it hit me. This is exactly what shiny object syndrome looks like. Not just in Costco. In business. You start with a clear goal - launch a course, a new service or a new product, finish your website, close three new clients. But somewhere along the way, you get distracted by someone else’s launch, a new app, a Canva template you’ll definitely use one day. You buy a course. Download a funnel template. Rebrand your business at midnight. Before you know it, you’re carting around half-baked ideas and unopened tools you never actually needed, and your real revenue-generating work is buried under distractions. It’s a costly habit. Not just in money but, in time, clarity, confidence, and momentum. Here’s your wake-up call => If it doesn’t drive sales, systems, or sanity - put it back on the shelf. You don’t need more stuff. You need a strategy that works. One that moves your business forward with intention and impact. So if you’re tired of carting around the chaos, and ready to focus on what actually gets results - I got you. Check out the free resources on my site or book a quick call. No pressure. Just clarity, next steps, and a bold plan that keeps your eyes on the prize. Download your free Focus to Profit Blueprint so, the next time distraction shows up dressed as a business breakthrough, you’ll know the difference. With Grace & Grit, Jo Jo Rawald Growth Architect for Women Entrepreneurs | Lean Six Sigma Black Belt 📞 (305) 934-0006 | ✉️ jo@jorawald.com www.JoRawald.com | @xojorawald www.QueenKongBiz.com | @queenkongbiz
Have you ever had one of your childhood memories come crashing back at ya with full volume and suddenly you're 14 again... but this time, with 40 more years of hindsight and a whole lot more humility? Yeah. That happened to me last weekend.I had the honor of being a keynote speaker at one of the best women’s business events I’ve ever attended - the WFS Female Founders Forum 2025 , hosted by the phenomenal nonprofit Women for Success . The room was filled with powerful, purpose-driven women who weren’t there to play small. They came to scale, get certified, and secure the kind of legacy their Moms would brag about at church.
Imagine losing money every time you make a sale… and choosing to do it anyway. That’s exactly what Costco has done - for 40 years straight - with their $1.50 hot dog + soda combo. Yep. One dollar. Fifty cents. No inflation. No markup. No apology. And when someone on the leadership team had the nerve to suggest raising the price? Costco co-founder Jim Sinegal flat-out said, "If you raise the price of the hot dog, I will kill you." Savage? Maybe. Strategic? 1000%. Because he got something most business owners miss entirely… => Not everything you sell is about profit. Some things are about perception. That hot dog isn’t just a cheap meal. It’s a statement: “We’re not here to nickel-and-dime you. We’re here to treat you right.” And guess what? That tiny loss leader earns them billions in customer loyalty, trust, and recurring revenue. I call this the Hot Dog Method: 🌭 Sacrifice something small. 🌭 Earn something massive. 🌭 Make it memorable. Every business can have a $1.50 hot dog moment: 🌭 A bonus your clients didn’t see coming 🌭 A “damn, no one else does that” type of policy 🌭 A ridiculously over-delivered offer that makes them tell 3 friends The key? Don’t hide it. Flaunt it. Repeat it. Build a reputation around it. Make it so obvious your clients can point and say, “That’s why I work with her. No one else shows up like that.” So here’s your million-dollar reflection: What’s YOUR $1.50 hot dog? Find it. Double down on it. Then sit back and watch your referrals multiply like Costco memberships in January.
I went to a networking event yesterday at Rosie’s Bar & Grill in Wilton Manors. Tropical-chic to the max. You know the kind of place - upscale casual, strong cocktails, mandatory valet. Now usually, I’m all about valet. But not yesterday. I wasn’t there to sip martinis or hang around all night. I could only stay for 20-minutes. That means - I was on a serious 20-minute mission: say hi, shake hands, peace out. Then, get back in my car to jump on a Zoom meeting! I certainly wasn’t about to drop $20 just to park my car for 20 minutes. No way! I pulled into the valet area, looked the guy dead in the eye, and said, “I’ll be in and out faster than your last relationship. Can I just park it right here?” And bless his heart - he said yes. Honestly, that should’ve been my win for the night. But then I met Sean Gac-Guerrier. Sean’s the Marketing Director at Excel Title, Inc. We started talking about dogs - and **cue the angels singing. We clicked instantly. Not two strangers meeting, more like two childhood friends who hadn’t seen each other in a decade! Sean showed me a photo of his dog, Dottie. I pulled out pics of my girl, Adelaide. Then he pulled out a photo of Dottie that stopped me in my tracks. Sean had a photo of what Dottie would look like as a human. Not a cartoon. Not a filter. I’m talking AI-generated, fully humanized, real-world, cardigan-wearing, intelligent-and-intimidating Dottie. I was mesmerized! It was as if Pixar and the FBI teamed up to design her. I looked at Adelaide’s pic… then looked back at Sean… and blurted out, “I need to humanize my dog!!” And I did. I went home, found the exact AI prompt, uploaded Adelaide’s photo, answered a few fun questions about her personality, and style - then… BOOM. Human Adelaide was born. Tall, lean, cozy-chic, with that unmistakable “don’t-mess-with-me-but-I’ll-still-hug-you” vibe. She looked like she ran Homeland Security and still had time for tacos and espresso martinis on a rooftop. Honestly? I stared at the image for like five minutes. Because it wasn’t just about making something cute. It was about seeing something familiar - something you know - come to life in a new way. Here’s the AI Prompt if you want to try it yourself:
Your business is not a side dish. It’s the main course—and it deserves to be treated like one. In this no-BS blog, I’m calling out “leftover” business strategies that leave women entrepreneurs stuck, stressed, and scaling in all the wrong ways. Discover how to build a business that’s bold, sustainable, and built to outlast trends using my BAMBOO Framework.
Too many women are stuck in the hustle—working nonstop, solving the same problems, and barely seeing the return.
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If you’re ready to ditch the stress and build a business that actually pays you back, this is your moment.
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If your business feels like a tornado of to-do lists, dropped balls, and duct-taped systems… it’s not just exhausting—it’s expensive.
Chaos costs you time, clarity, and cold hard cash.
This blog is your wake-up call:
🛠️ Simplify your operations
💸 Stop bleeding profit
📈 Build a business that works for you
Read it. Apply it. Start making smart money moves →
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You’re not charging too much. You’re not “bad at sales.”
You’re just leaving money on the table—and this blog breaks down exactly how to stop.
If you’re underpricing, over-delivering, or relying on guesswork to grow… you’re leaking profit.
Let’s fix that.
I’m giving you the tools to:
💰 Price like a pro
📊 Package for profit
🎯 Sell with strategy
Read it, bookmark it, share it with your business BFFs →
👉 www.jorawald.com/youre-leaving-money-on-the-table-lets-fix-that
The right clients are watching—but do they actually know what you do?
If your messaging is vague, cute, or confusing, you’re basically invisible.
This blog is your wake-up call to get crystal clear, magnetic, and straight-up undeniable.
You’ll learn how to:
🧲 Attract the right people (without chasing)
📢 Clarify your offer
👑 Show up as the go-to expert in your space
Because your next client isn’t on the fence—they’re just unsure if you are the answer. Fix that here →
👉 www.jorawald.com/the-right-clients-should-be-coming-to-you-theyre-watching-but-do-they-know-what-you-do
One Zoom call. That’s all it took to blow up how I coach—and rebuild it into something way more powerful.
If you’re overcomplicating your client process, trying to “do it all,” or feel like coaching is starting to drain you… this blog is your game-changer.
Inside, I break down:
🔥 The shift that simplified everything
🎯 How I get faster results (without burning out)
💡 What most coaches get totally wrong
If you’re a coach or service provider who’s doing the most and getting the least—read this NOW.
👉 www.jorawald.com/this-one-zoom-call-changed-how-i-coached-forever