WEBVTT

NOTE
This file was generated by Descript 

00:00:02.380 --> 00:00:03.199
Hi everyone.

00:00:03.460 --> 00:00:08.660
Today's topic is easy ways to cut costs
for your WordPress freelance business.

00:00:10.370 --> 00:00:12.739
There are a lot of advantages
to being a freelancer.

00:00:13.250 --> 00:00:15.270
One of them is that you
can work from anywhere.

00:00:15.870 --> 00:00:19.099
No need for a brick and mortar
location means saving money.

00:00:19.800 --> 00:00:22.530
It's also pretty nice that
WordPress is free to use.

00:00:23.020 --> 00:00:26.009
A savvy business owner can get
started without spending a lot.

00:00:26.900 --> 00:00:30.099
Even so, there are some
significant costs involved.

00:00:30.650 --> 00:00:35.130
A quality web host isn't cheap, and
the WordPress ecosystem is known for

00:00:35.140 --> 00:00:36.990
its wealth of subscription models.

00:00:37.690 --> 00:00:40.929
You'll also pay out the nose
for internet service, hardware,

00:00:41.020 --> 00:00:42.630
and experts like accountants.

00:00:43.700 --> 00:00:47.410
Your spending can really add up
quickly, more than you realize.

00:00:48.050 --> 00:00:50.000
And keeping track can be cumbersome.

00:00:50.810 --> 00:00:54.330
Subscriptions renew at different dates
and vendors don't always alert you.

00:00:54.989 --> 00:00:55.970
Prices go up.

00:00:56.360 --> 00:00:59.280
including those tempting
promotional deals you signed up for.

00:00:59.810 --> 00:01:02.450
Before you know it, your
bank account is running low.

00:01:03.580 --> 00:01:06.870
Thankfully, there are plenty
of opportunities to save money.

00:01:07.360 --> 00:01:12.500
A little research will help you identify
unnecessary costs and ways to cut corners.

00:01:13.280 --> 00:01:16.929
The result is a boost to your
bottom line with minimal sacrifice.

00:01:17.319 --> 00:01:18.659
It's easier than you think.

00:01:19.459 --> 00:01:23.890
Let's look at ways to cut costs for
your WordPress freelance business.

00:01:26.109 --> 00:01:26.619
How much are you spending?

00:01:27.019 --> 00:01:30.449
The first step to cutting costs is
to understand how much you spend.

00:01:31.109 --> 00:01:34.399
That will let you know where you
stand and you can compare the totals

00:01:34.429 --> 00:01:36.039
after you've made some budget cuts.

00:01:36.729 --> 00:01:39.079
It requires keeping
track of what you spend.

00:01:39.689 --> 00:01:43.049
Accounting software or a spreadsheet
will help you stay informed.

00:01:43.619 --> 00:01:47.149
Short of that, you can look through
bank statements for the details.

00:01:48.009 --> 00:01:53.319
Look for any purchases related to your
business, such as web hosting fees,

00:01:53.989 --> 00:01:56.189
WordPress plugin and theme subscriptions.

00:01:56.889 --> 00:02:01.509
Software as a service subscriptions,
professional services like accountants

00:02:01.509 --> 00:02:06.499
and lawyers, marketing costs like
advertising and email list services,

00:02:07.079 --> 00:02:11.349
memberships in professional organizations
or clubs like the WP Minute.

00:02:12.389 --> 00:02:14.729
Those are the basic costs
coming out of your pocket.

00:02:15.399 --> 00:02:18.289
However, there may also be
items that aren't so obvious.

00:02:19.079 --> 00:02:22.774
For example, Consider
payment gateway fees.

00:02:22.874 --> 00:02:27.414
Services like PayPal and Stripe collect
a fee each time you receive a payment.

00:02:28.084 --> 00:02:30.344
The bigger the payment,
the more they take out.

00:02:30.814 --> 00:02:34.194
The cost can be significant, so
it's something to be aware of

00:02:34.214 --> 00:02:35.774
as you consider your spending.

00:02:37.174 --> 00:02:40.244
Dig deep and learn how much
money is leaving each month.

00:02:40.524 --> 00:02:42.784
You might be surprised at what you find.

00:02:44.694 --> 00:02:47.494
Look for corners to
cut and places to save.

00:02:48.694 --> 00:02:52.114
Once you have a list of items that
cost you money, you might find

00:02:52.114 --> 00:02:53.574
a few that are no longer needed.

00:02:54.154 --> 00:02:57.424
That could be anything from
an app you don't use to an add

00:02:57.424 --> 00:02:58.684
on to your hosting account.

00:02:59.394 --> 00:03:02.894
For instance, themes and plugins
often collect virtual dust.

00:03:03.564 --> 00:03:06.054
Pay particular attention to
items you purchase during

00:03:06.054 --> 00:03:07.934
Black Friday or similar sales.

00:03:08.534 --> 00:03:11.574
If you don't actively need them,
they're raiding your bank account.

00:03:12.014 --> 00:03:13.944
Cancel them before your next renewal.

00:03:14.684 --> 00:03:17.594
You might also find products or
services you can cut back on.

00:03:18.239 --> 00:03:21.899
Many subscriptions are tiered and
offer more features for a higher fee.

00:03:22.569 --> 00:03:24.769
Do you need the level of
services you're paying for?

00:03:25.309 --> 00:03:27.919
If not, that's a good place to save cash.

00:03:28.469 --> 00:03:31.319
Web hosting is a common
area in which to overspend.

00:03:31.669 --> 00:03:33.959
If you don't need the storage
and bandwidth allotted to your

00:03:33.959 --> 00:03:35.819
account, it's okay to downgrade.

00:03:36.989 --> 00:03:39.329
Oh, and don't forget
about any domains you own.

00:03:39.899 --> 00:03:42.699
They're easy to buy when an
idea pops into your head.

00:03:42.999 --> 00:03:45.309
But what if you didn't follow
through with the project?

00:03:45.944 --> 00:03:49.584
Each renewal is just a yearly
reminder of our procrastination.

00:03:50.094 --> 00:03:52.734
You might as well cancel
or try to resell them.

00:03:54.014 --> 00:03:56.074
It's easy to collect items you don't need.

00:03:56.544 --> 00:04:00.134
Maybe they once served a purpose, or
perhaps you were waiting for the right

00:04:00.134 --> 00:04:02.694
time to use them, and the time never came.

00:04:03.184 --> 00:04:06.764
The good news is that you can
eliminate them just as easily.

00:04:09.364 --> 00:04:11.524
Find cheaper ways to get what you need.

00:04:12.844 --> 00:04:15.644
There are also ways to save
money on the things you need.

00:04:16.084 --> 00:04:19.224
Sometimes it requires a little
work or patience, but it is

00:04:19.374 --> 00:04:20.904
often well worth the effort.

00:04:21.764 --> 00:04:23.454
Product bundles are a good example.

00:04:24.134 --> 00:04:27.994
Some WordPress plugin authors will give
you a deal when licensing multiple items.

00:04:28.454 --> 00:04:32.004
It makes sense when you're working
within an ecosystem like WooCommerce.

00:04:32.604 --> 00:04:35.134
Just be sure that you'll use
everything that's included.

00:04:36.224 --> 00:04:38.754
Timing also matters when it
comes to making a purchase.

00:04:39.004 --> 00:04:42.784
As we mentioned, Black Friday deals can
tempt us to buy things we don't need.

00:04:43.554 --> 00:04:46.564
But it's also the right time to
grab a product that we have use for.

00:04:47.594 --> 00:04:51.564
Some sellers even discount renewals
or upgrades to existing customers.

00:04:51.884 --> 00:04:53.784
Keep an eye out for these opportunities.

00:04:54.664 --> 00:04:57.194
You can also negotiate
pricing with some companies.

00:04:57.544 --> 00:05:01.154
Internet and cell phone providers
often renew contracts at higher rates.

00:05:01.884 --> 00:05:05.274
When it's time, contact them
and ask for a lower price.

00:05:05.694 --> 00:05:07.984
It's not always convenient, but it works.

00:05:09.124 --> 00:05:11.494
Cheap or free alternatives
are also out there.

00:05:12.154 --> 00:05:16.744
It's not always feasible to replace
your key plugin on your website.

00:05:17.214 --> 00:05:21.984
However, apps like photo editors and
word processors are easier to swap.

00:05:22.494 --> 00:05:26.544
You could save quite a bit using
open source tools or commercial

00:05:26.544 --> 00:05:28.154
products built by smaller companies.

00:05:29.624 --> 00:05:33.684
Products that employ artificial
intelligence also offer potential savings.

00:05:34.114 --> 00:05:38.484
Services like ChatGPT can perform
menial tasks and automate them.

00:05:39.074 --> 00:05:41.934
They could eliminate the need
for some more expensive apps.

00:05:42.924 --> 00:05:45.734
You don't have to settle for
paying high prices for the

00:05:45.734 --> 00:05:47.214
tools and services you need.

00:05:47.594 --> 00:05:50.724
Being a smart shopper can
pay off for your business.

00:05:53.444 --> 00:05:54.674
Every dollar counts.

00:05:54.974 --> 00:05:56.024
Save where you can.

00:05:57.484 --> 00:06:00.634
Freelancing may not have the same
costs as a traditional business.

00:06:01.264 --> 00:06:03.734
That doesn't mean your expenses
are insignificant, though.

00:06:04.184 --> 00:06:09.014
Out of control spending makes it harder
to stay afloat, and prices keep going up.

00:06:09.664 --> 00:06:11.624
So, take charge of your bottom line.

00:06:12.094 --> 00:06:15.224
Keep track of what you spend
and look for areas to make cuts.

00:06:15.714 --> 00:06:19.624
Consider what you buy, when you do
it, and how it impacts your business.

00:06:19.984 --> 00:06:22.144
You're sure to find items
that aren't worth your money.

00:06:22.944 --> 00:06:25.874
Meanwhile, look for creative
ways to stretch your money.

00:06:26.339 --> 00:06:29.139
Find deals and take advantage
of them when it makes sense.

00:06:29.749 --> 00:06:33.609
Get the best price for the things
you need or find free alternatives.

00:06:34.099 --> 00:06:38.429
The WordPress ecosystem is large
and has multiple options for

00:06:38.429 --> 00:06:40.179
everything a freelancer needs.

00:06:40.909 --> 00:06:44.369
A little effort will go a long way
toward improving your finances.

00:06:44.889 --> 00:06:47.499
There's no better time
to start than right now.