Often, business owners who use platforms like HomeAdvisor will try to find the cheapest contractor available, thinking that this is the most profitable option. What they’re failing to realize is that the contractor who charges double that hourly rate is likely to get the job done more effectively and in less time. Focus more attention on the reviews than the hourly cost. You want a job well done and often the overall price for that is barely more than the cheap contractor when you factor in time and quality.

One of the biggest costs for small businesses is training new employees. If you really commit to this task, you can improve employee retention which will ultimately help your bottom line. This is a scenario just like the contractors one where the upfront cost is higher but the long-term cost is lower. Don’t stop the training after the first week (or month). Make sure to continually train your employees on all aspects of the business so that they can see themselves having a career with your company rather than just a short-term stint.

Most small business owners don’t realize how much more cost efficient it is (depending on your market) to conduct advertising online on social media and other platforms. For the price of one newspaper ad in your local paper, which may run you several hundred dollars, you can reach thousands more people doing Facebook advertising for example. Every dollar matters, and this way you’re getting more views for each dollar you spend.