Strengthen Your Small Business Finances: Smart Ways to Save Cash and Stay Resilient

By Doug Zeisel, TCV Growth Partner:

Running a small business means navigating ups and downs — and in uncertain times, keeping a strong financial foundation is more important than ever. Having manageable debt and enough cash on hand gives you the flexibility to handle unexpected challenges and seize new opportunities.

Conserving cash doesn’t just mean cutting costs — it’s about being intentional with your spending and making every dollar work harder for your business. Start by reviewing your monthly income and expenses, and compare them to your budget (Learn Essentials of Budgeting HERE). From there, look for opportunities to save and improve efficiency.

Here are some practical areas to focus on:      

Take a Fresh Look at Payroll and HR Costs

Payroll and HR services can be expensive, but there’s often room to save and a small adjustment in service costs can make a big difference over time.

• Shop around for providers to make sure you’re getting the best value.

• Audit your subscriptions and cancel any services you no longer use or need.

Use AI to Boost Efficiency

Artificial Intelligence isn’t just for big corporations anymore. Many affordable tools can help small businesses save time and money. For example, agentic AI platforms like Moveworks can automate and support many employee functions and streamline routine tasks. This can help reduce manual work and free your team to focus on what really drives growth.

Bring in Interns Where It Makes Sense

Interns can add energy, creativity, and specialized skills to your business at a reasonable cost. With the right guidance, they can make a meaningful impact in many areas:

• Marketing: Help with social media, digital ads, and online engagement.

• Human Resources: Assist with recruiting, onboarding, and employee communication.

• Information Technology: Support software testing, troubleshooting, or new tech rollouts.

• Finance: Help with data entry, reporting, and budgeting tasks.

• Sales: Generate leads and help maintain customer relationships.

Revisit Your Insurance Policies

Insurance premiums have been climbing across the board. Don’t just accept increases — compare quotes and make sure your coverage still fits your needs. You might find that switching carriers or adjusting your coverage saves you a significant amount each year.

Negotiate with Suppliers

Your suppliers want to keep your business — so don’t be afraid to ask for better terms. Whether it’s volume discounts, extended payment options, or bundled pricing, a short conversation can often lead to meaningful savings.

Streamline and Automate Operations

Take a look at your daily operations to see where things overlap or where manual work could be automated. For instance, in accounting and finance, there are now plenty of affordable AI-powered tools that handle tasks like invoicing, expense tracking, and reconciliation automatically. Automation can save hours of time each month and reduce costly errors.

Get More From Your Marketing Spend

Marketing is vital, but it’s easy for costs to creep up without clear results. Focus your dollars where they’ll have the most impact:

• Make sure your messaging connects with your ideal customer.

• Invest in digital channels that can be tracked and measured.

• Regularly review campaign results so you can adjust and improve over time.

Use Fractional Outsourced Executives

Fractional Executives are reshaping how companies grow by providing needed services on an "as needed" basis. For example, a fractional CXO might cost less than half the cost of a full time professional and eliminate the overhead of FICA, Unemployment Insurance and more. Learn about the advantages of "Part Time Bosses" HERE.

Final Thoughts

Building a strong financial foundation takes consistent effort — but it’s worth it. By taking a close look at your expenses and monitoring a budget, embracing affordable technology, and getting creative with your resources, you can strengthen your business’s cash flow and set yourself up for sustainable growth.

In uncertain times, resilience isn’t about doing more with less — it’s about doing the right things more efficiently. Need help with any of these items? Feel free to reach out! Doug@TCV-Growth.Partners