We have all heard the phrase, “Don’t be penny wise and dollar foolish.” When it comes to marketing and technology choices for our business this is a phrase that rings so true. There is not a day that goes by that I don’t receive a call from someone upset that the choices they made to save money for their business ended up costing them three times what they had planned. When it comes to technology and marketing, low-cost does not always mean the “smart buy”. Let’s take a step back and examine two areas you may be tempted to skimp on as you build your business.

Your Email

What is a business today without it? Your business cannot survive without email and if you’re like most businesses, that means not only email on your computer but also when you are out of the office. This issue can then lead to other concerns like calendar sharing and scheduling overlaps. A smart choice for a small business is to get away from using email systems that forward email around. Why not use a system that allows syncing? I don’t just mean email, I mean calendars, contacts and more. If you can’t afford a system that Corporate America uses, but want everything they have, you may want to invest in a service known as hosted exchange. This allows you to have devices wirelessly synced while out of the office so co-workers can see your calendar, reducing scheduling conflicts. No more wasted time worrying about emails that downloaded into an email program that you can’t see on your webmail application. With hosted exchange it is all synced; web, pda and your Outlook. The cost for a service may seem high at an average of about $30/ a month, but when you think about the time you save and the backup these companies put in place, it may be a smart buy.

Your Website

The most common comment I hear from people is that their website isn’t doing what they thought it would for their business. This conversation is one of the toughest talks I have to have with people. The website seems to be the on of the biggest areas where businesses try to save money. Smart spending has ended up costing them more money. When deciding to create a website or redesign a website be sure you make smart choices and ask smart questions. A pretty design doesn’t ensure business. Be sure you ask the candidates you have about their understanding of marketing a website. What most people miss is that a website is more about marketing than anything else. Design and technology are important, but if I can’t find you online, what does it matter how pretty your website is? If and when I find you on the web, and you don’t understand how to get me to take an action on your site - what good is the functionality? When deciding to build a website, be sure to start with the marketing angles and a budget that will get your customers to take notice. If not, you may be rebuilding and re-spending in 3 to 6 months wondering why your website is not bringing you any business. Smart spending is crucial here as people can not hire you if they don’t know you exist - market your website.

Smart spending is a theme that should be carried throughout your business. I hope these two ideas gave you some things to think about as you grow your business. To me, smart spending means not always saving money but getting the best advice for my money. Often times hiring an expert can get me farther faster or using technology can save me time, which ultimately saves me money.

When it comes to growing your business, do your homework and take the time to really understand what you’re buying and if it truly matches your company’s goals. Ultimately you need to buy with your gut, and don’t let price be the determining factor. Don’t be penny wise and dollar foolish.