We Asked 6 BIZ Experiencess: 'What Expenses Have You Realized Your Company Is Better Off Without?' Do you really need that upgraded Zoom subscription?

This story appears in the October 2021 issue of BIZ Experiences. Subscribe »

Pete Ryan

1. Build business before buzz.

"It's enticing to spend on sexy things like PR and events. But while awareness is great — and needed — you want to make sure you have the distribution set up to fully take advantage of the awareness. Early on, we spent on those things to build buzz, but we didn't have enough retail distribution to support it. We jumped the gun a bit when we should have waited to make sure our full ecosystem was in place." — Jennifer Ross, cofounder, Swoon

2. Say bye to the office.

"We anonymously polled our employees about the return to office post-COVID, and every single person was either neutral or against going back full-time. The pandemic has proven that productivity doesn't suffer when you're working from home. Also, as a company based in L.A., where traffic is horrendous, employees get back the time they would spend commuting." — Grace Lee, cofounder and CEO, Birdy Grey

Related: Every Business Needs a Budget, No Matter How Much Money You (Think) You Have

3. Know your size.

"As a DTC startup, we have tried some social listening software and tools that I thought would give us a good measure on sentiment and brand equity. But they haven't been as useful as I anticipated for a business our size. We're always open to trying different platforms, but I have realized tools that are insightful for larger businesses may not be necessary for our nimble team." — ABBY MORGAN, cofounder and CMO, Cuup

4. Ditch the merch.

"In the beginning, I got so excited about putting our logo on T-shirts and anything else I could find. But who really likes wearing a corporate brand? Once I discovered Giftology, by John Ruhlin, it opened my eyes on how to think about gifts and do it right." — Marc Bacher, founder and CEO, Stuga

Related: 5 Low-Budget Marketing Ideas for Bootstrapped Startups

5. Downgrade Zoom.

"This might be controversial, but we got rid of our Zoom subscription. The free version works fine — and in fact, it actually forces us to keep all meetings under 40 minutes. You will be amazed how much more efficient you can be in a meeting when there is a time limit. Everyone's time is extremely valuable, so forced shorter meetings have created a habit of getting right to the points that matter." — Arie Hefter, cofounder and CMO, Noshinku

6. Expand your digital horizons.

"Before March 2020, we budgeted more than $1 million to bring 20 trainers and 1,500 instructors together in multiday intensive training sessions across the globe. The pandemic forced us to move the sessions online, and it wasn't easy. But it worked! And because our trainers didn't have to travel all over, they weren't burned out by the end of summer. Plus, we saved a lot on travel-related costs and were able to deliver high-quality training with nearly the same results as our in-person sessions. We will likely keep training our staff online in the future, and we'll get better and better at it." — Pete Ingram-Cauchi, CEO, iD Tech

BIZ Experiences Staff

BIZ Experiences Staff

Editor

For more than 30 years, BIZ Experiences has set the course for success for millions of BIZ Experiencess and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an BIZ Experiences Leadership Network contributor? Apply now to join.

Starting a Business

These Brothers Started a Business to Improve an Everyday Task. They Made Their First Products in the Garage — Now They've Raised Over $100 Million.

Coulter and Trent Lewis had an early research breakthrough that helped them solve for the right problem.

Franchise

How to Prepare Your Business — And Yourself — For a Smooth Exit

After decades of building your business, turning it over to someone else can be emotional. But with the right mindset and a strong plan, it can also be your proudest moment.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

Franchise

10 No-Office-Required Businesses You Can Start for as Little as $5,000

With strong Franchise 500 rankings and investment levels starting under $5,000, these brands are ready for new owners to hit the ground running.

Business News

Here Are the 10 Jobs AI Is Most Likely to Automate, According to a Microsoft Study

These careers are most likely to be affected by generative AI, based on data from 200,000 conversations with Microsoft's Copilot chatbot.