It's Not Just About Saving

The other day I got sucked in by a headline asking “Is There a Best Day to Buy Gas?” I suspected there had to be an actual answer or this wouldn’t be a story (hint, it’s Monday), but I was shocked at how little the difference was. On the whole, it appears this tip can save you $50-$100 a year – yep, less than $2 a week.

Now I don’t want to fully discount this as a real thing. If you live in a way where you tend to fill up your vehicle once a week and it doesn’t much matter when you do it, then sure, switch to Monday and take a bit of savings. But with the number being what it is and most people just getting gas when It’s needed, this doesn’t seem to be much to worry about.

This did, however, then make me think about some things we hear when discussing finances with business owners. Much like this urge to wonder how you can save money at the pump, one of the first questions they often ask is “how can I save more money?” For of course, it is always beneficial if you can spend less money and receive the same amount of goods and services in return. And there may be some answers in here with tax planning and strategy that can make appreciable differences, but once that is in place, there often aren’t huge answers to this question.

So many of your expenses are just … your expenses. There’s only so much (often meaning none) shopping around you can do for things like utilities. There’s even only so much shopping around you can even do for things like supplies. I mean, the internet is a vast space, but once you find the best price for something, well, that’s it, you found the best price.

So then how can you make more money?

Well, you should probably look less at how much money you are spending and more at how much you are making.

Think about it, if you do have your expenses pared down to just what they are, oftentimes bringing in more clients or making new sales do not come with vast new expenses (and those they do should be included in what you are charging for them). At that point, you are already paying the costs necessary to run your business. So once you are set up, new business can be even more profitable than old business.

Therefore, never give up on potential savings on your expenses, but don’t neglect the areas where you can profit even more, which deserve more of your attention.

​Warmly,

Josh Bousquet
Connect to Us ~ Facebook ~ Twitter