How ‘musee solomon’ saved money in 2011


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How ‘musee solomon’ saved money in 2011

  1. 1. How ‘musee-solomon’ saved money in 2011Posted on December 7, 2011 by Usha PrasadFriends, 2011 is coming to an end. For business owners, it’s time to take stock of their successand failures, finances, and plan for the coming year.When we say finances, what better joy can it bring when you save money in your business? In aseries of posts, we bring you success stories of various start-ups and small businesses on howthey saved money in 2011 and looking ahead into 2012.Today, let’s hear how an international art and design business ‘musee-solomon’, located northof Austin,Texas, made substantial savings.“The economic challenges of the past few years have required that we manage our money toachieve the best value at all levels,” says Beverly Solomon, Creative Director for musee-solomon.Beverly tells us how they planned to save money –1. We buy for the business like a cost-conscious family would make purchases — we look forvalue, we use discounts, sales, coupons, etc.© 2011 Apptivo Inc. All rights reserved.
  2. 2. 2. When there are tremendous sales going on, we stock up on items that we knew we will needover time. Of course you cannot buy supplies that will lose their effectiveness over time, butwhere else can you put your money and get returns (a penny saved is a penny earned) of 20-70percent? It is crazy to put money in the bank at 1% interest when you can buy bargains atamazing prices.3. We buy from distressed sellers. Since we deal in art and fine decor, we are buying fromindividuals and from other businesses. People/businesses with cash flow problems often sell art,furniture, fine carpets, etc. at pennies on the dollar. We have weathered past economic downturnsand have made great purchases which always have resulted in profits as the economy turnsaround.4. While on the subject of buying bargains, we always look to upgrade. There have been suchamazing sales on technology that we have upgraded where we can afford to do so.5. Over the years, we have done the energy saving upgrades that are now paying off. Beingaware of energy use and saving is always a good policy.To summarize, over the years, we have learned that when we are making money to save moneyfor downturns like the one the nation is now suffering through. We have learned that for thosewith some money to spend, there are bargains and opportunities at every level. While we doeverything that we can to save money, we are also taking advantage of the opportunitiesprovided.If you are a small business owner, feel free to share with us how you saved money in 2011.Welook forward to your valuable comments and feedback.© 2011 Apptivo Inc. All rights reserved.