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Home » IDEA Answers » What has been the best budgetary change you’ve made for your business during the recession?
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Question asked by Sandy Todd Webster 280 days ago

What has been the best budgetary change you’ve made for your business during the recession?

BudgetingBusiness Planning/StrategiesCareer
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Answered by Joanne Duncan-Carnesciali 280 days ago
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830 Questions Answered, 55 Questions Asked
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Sandy,

Thank you for your question. Many small business owners operate on small budgets so the savings when compared to mid-sized or larger organizations many seem insignificant. To the business owner, however, it is substantial.

I've made some cuts which have resulted in a savings of just over $1,000. For me that means my company's car note for two months or 1/6 of my annual insurance on the car or nearly three months of parking my truck in a garage here in NY.

I have to say that as a consequence of my utilization of the IDEA Fitness Connect, I've learned that it is very possible to market oneself and one's business effectively without costs, thereby saving money where one would have budgeted for advertising. This isn't exactly a budgetary change--just a business/marketing strategy with purpose.

I've had more success with this site than I've had with all the other social networking sites that I am a member of.

Thanks for your question.
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Answered by Karin Singleton 279 days ago
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730 Questions Answered, 7 Questions Asked
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My best budgetary change was the investment I made in becoming a fully certified MELT instructor. As one of only three instructors in North Carolina and the only one in the area, I have been able to expand my business by offering this type of training which I market both separately and in conjunction with my personal training.
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Answered by LaRue Cook 279 days ago
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My best change has been to increase my marketing budget and effort. With so many others "pulling back," this is the perfect time to increase my visibility. :-)

LaRue, CSCS
www.lecfitness.com
lecfitness@yahoo.com
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Answered by Lisa G. Wright 278 days ago
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Hired a social media marketing company almost a year ago. Marketing is like Chinese water torture but it has really established us leading Fitness Professionals in our area!
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Answered by Stephen Landrum 226 days ago
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I bought a truck and started hauling equipment to classes. The classes became popular because of the amount of available equipment and wound up paying for the truck... and I charged a little more for the classes in the beginning to compensate for that cost, so, now people expect that to be the price. I wouldn't have asked for as much if I hadn't tried to offset my new cost. This has led to a truck and more on the hour and more interesting classes.
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