These quick tips are designed to help you get through these hard times. If you have any tips that you want to share, send them to marketing@tourismtiger.com(opens in a new tab)
Now is a good time to consider your finances. Tax season is done for most of the world so your mistakes there are highlighted and in recent memory. You have time to spare. And I’m sure you’re in the mood for finding money!
I’m no financial expert so I talked to the best accountant I know – my dad. Luckily, my brother said his brain is mush after processing too many small business loan applications so I didn’t have to debate between which family expert to go to!
So here is what I got for you:
- First, he chastised me for suggesting that you aren’t already doing this monthly. He said that you should sit down every month and look at who owes you money (and get that) and optimize your budget (i.e. stop paying for things if they don’t benefit you). So tip number one: if you haven’t already, get caught up on all of that. Then pick a day each month and schedule a time to look at it so you don’t fall behind again.
- If you had any trouble with your taxes this year, plan ahead to avoid it in the future. Make sure that you have all of your documents and receipts. Reserve a place for them. Was there a deduction that you would have qualified for if you’d only just done or had one more thing? Get that thing for next year! Or at least make a plan to get it when you’re able to.
- Go through your storeroom and sell things you don’t need on eBay, Facebook Marketplace, or someplace similar. You’ll gain space and money, though you might lose a Y2K shirt or two (I bought one in 2004, now they’re even more vintage!).
- A tip from me! Going along with the idea that you should stop spending money on things that don’t benefit you, look at your analytics from the past year. Are your paid advertisements and promotions bringing in business? If they’re not, stop paying for them! Take your money elsewhere or go organic-only.
Find this article useful? Enter your details below to receive your FREE copy of 95 Epic Places To List Your Tours and receive regular updates from Tourism Tiger and leading industry experts.
By submitting this form, you agree to Tourism Tiger contacting you via email.