If you’re a small business owner, your daily struggles often revolve around expenses. As a basic rule of thumb, 10 to 20 percent of your revenue should be invested into marketing if you expect to grow your business—but that’s always easier said than done. It’s not an easy margin to manage.

Here’s some money advice: Knowing when and where to cut expenses can make that margin a little more breathable. Most companies can cut 10 percent of their operational costs without impacting business—at all.

So where can you save money?

1. Organize Your Office Supplies

It may seem basic, but it’s easy to save a few dollars with some smart shopping.

2. Optimize Efficiency

Are you using your office square footage to your advantage? Think of all the expenses of an office: electric utilities, heat/AC, water, rent, etc.

3. Maximize Skill Sets

A team is only as good as its parts—and its expertise.

4. Modernize Your Marketing

This may seem counterintuitive—why examine your marketing costs when you’re trying to maximize your reach?

If your paid advertising is wildly successful, that’s fantastic. Don’t cut things that are working well for you. But if your returns aren’t what you’d like them to be, don’t miss the opportunity to look into less costly tactics.

5. Minimize Time-Wasting

Remember that saying: time is money. Properly using the workday can lower your business costs, so make sure you and your colleagues are using your hours wisely.

6. Explore Virtual Tech

How much of your business budget is allotted for expenses like travel? How about document storage?

7. Narrow Your Scope

This is one of the best techniques you can use to improve your bottom line. As a small business, it’s important to find your niche and stick to it.

If you find you’re casting a wider and wider net, rein yourself in and take a look at where your company is performing best. Taking the time to reset and refocus can help your business grow stronger in the areas where it should, and help avoid carrying costly weight in areas that aren’t your strongest suit.

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