Imagine starting your own business. What happens when you find out that you are in the red or close to it at the end of the fiscal year? You do what most business owners do—check your books and find ways to cut corners. Now, the tricky part to cutting corners is to make sure you do not downsize or eliminate something that will turn profits for your company in the future. In examining your books, you notice that advertising was a large expense for your company. You also notice that the employee appreciation celebration made a large imposition on your budget, as well. Looking further you notice that an even larger chunk of your liability was the direct result of offering consumer discounts to help boost your business. What is your first instinct? Should you downsize on advertising? Should you avoid celebrating your employees’ hard work? How about eliminating customer perks and discounts?

There are several ways to cut back on your expenses. Eliminating advertisement and employee appreciation are not an option. Keep in mind that advertising is essential to the livelihood of any company. Of course most of us have heard that “word of mouth” is the best form of advertisement. Not to mention the fact that it is free. However, in our present economy in starting a new business or in keeping an established business afloat, mass advertisement is a must. Furthermore, employee appreciation and company celebrations help to increase staff morale. More so, consumer perks aid in building a consistent clientele. So, what are your options?