10
Review Your Monthly Business Subscriptions
Smart Spending
Let’s focus our attention on streamlining business costs, beginning with an in-depth analysis of our monthly subscriptions.
Habit of the week:
Review Your Monthly Business Subscriptions
Let's dedicate this week (and possibly a bit more time) to meticulously reviewing your business's monthly subscriptions. It's important to regularly assess your subscription services to ensure that each one is valuable and actively used in your business operations. The goal is to identify any services that overlap, are underutilized, or can be eliminated, thereby optimizing your expenses and operational efficiency.
Why it matters:
It's easy to accumulate various subscriptions, each seemingly essential at the time of sign-up. Shiny New Object Syndrome! However, periodic reviews can reveal that some subscriptions are no longer beneficial, leading to unnecessary expenses. Efficiently managing these subscriptions can significantly reduce costs and streamline your business operations.
Quick Start Guide:
- List all your current business subscriptions.
- Utilize a Google Sheet or Notion to track these subscriptions, noting their costs and usage.
- Assess each service: Is it frequently used? Does it overlap with another service? Is it essential?
- Decide which subscriptions to keep, which to cancel, and identify potential alternatives.
- Update your tracking sheet regularly with any new subscriptions or changes.
Cami's Tips
- Be thorough in your evaluation, considering both the financial and practical aspects of each subscription.
- Don't ditch a tool you use often just to cut costs. Investing in tools that work for you is helping you be a successful business owner. You have to spend money to make money!
- Revisit this habit periodically, as your business needs and available services will evolve.
- Go further and put the payment schedules for your tools on your calendar.
- Inspired by Tara Claeys, I've shared my own subscription review process on my blog, which you can check out here for more insights: WebCami Cafe - Annual Subscription Costs for My Web Design Business.
Routine Checkpoint:
Remember, regularly updating your subscription tracking sheet will help keep your expenses in check and make sure that every tool you pay for adds value to your business.
Some habits might get started in a week, but take more time to complete. Carve out time in your schedule to finish this task and plan to do it yearly!
What's Your Take?
Have you conducted a subscription audit for your business? What changes did you make, and how did they impact your operations and budget? Share your experiences with #WebDesignerHabits and join the conversation!
WebCami Cafe is a Facebook group created to connect web designers, old and new, to share tips on starting, running, and maintaining a successful web design business. Join Today!
Podcast Episode:
about the author
Cami MacNamara is a web designer and owner of WebCami LLC, a Seattle-based agency since 2002. She created Web Designer Habits to help solopreneurs build smarter systems, stay productive, and run a business that works for them.