When I was first asked to write this article, I wondered if someone who spent the first year in business making impulsive buying decisions would have any great advice to offer. Yet, I’ve changed and that is the important message here, that you, too, can alter the course of your business and your life by making smart buying decisions. I hope you find these smart spending tips helpful.

Last week, a local phone book directory advertising service called me to see if I wanted to take out a display ad in their publication for $500/year. I have had good luck with finding clients through the phonebook, so my initial reaction was ‘sure, sign me up’. However, my new approach to business is to take a step back, evaluate and say no, even when I want to say yes. What does this approach do? Most salespeople are negotiable. Their initial price is high. Once you say no, this opens the door for them to come back with some sort of offer. In this case, I was particularly stubborn. By the beginning of this week, here is the offer I was presented with: If you refer us three people who sign up for an ad in our phonebook, we’ll give you your ad for FREE! Now, that’s smart spending. So, I always ask now what kinds of deals or discounts salespeople have available.

I noticed that this approach also worked with an on-line printing company I use often. Each week, I get offers from them for small discounts on various items. I used to buy into their first discount offer right away. Lately, I have been exploring the sight for items I use often. I know they can track where I’ve been on their site because when I get the initial email, it’s always an item I’ve been looking into and check out but don’t buy. Invevitably, my next email offers an even deeper discount on the item, and if I keep ignoring their deals, I eventually get the item for FREE plus the cost of shipping! It may not be in the quantity I want but I just wait for the next deal. Can you learn to negotiate with businesses that sell to you regularly?

Since I have an on-line company (www.artnsoulinc.com), I write large checks to my web design company for web revisions. I recently switched to a web design company who created funky, customized templates for me to use so that I could make revisions myself. This will save me lots of money in years to come. What can you do yourself in your business that will save you from spending with some of your important vendors?

I recently started taking art lessons to expand my technical ability in art. I’ve mostly worked in acrylics and now am learning to paint with oils. Some art teachers I researched taught techniques over a long period of time. I eventually found an art teacher who charges $50 PER SESSION (not per hour), provides the canvas and I walk away in one lesson with a completed painting. I then price it higher, pay for the lesson, and make a profit. I know a local ski resort that trains their trainers to ski, then the newly trained skiers start training beginners right away within the 3^rd or 4^th lesson. They do know more than the beginners even though they aren’t experts. Are there services you can offer to your clients that you just may have newly learned?

I partner with other coaches and artists and then we share information with each other by forming Mastermind groups. Let me explain how this works. One of us might join an association in a particular area or a trade group that has a particular topic of focus or one of us attends a webinar or teleseminar or subscribes to a particular trade magazine or publication. Then, we all share the information we’ve learned. My former competition (artists and coaches) are now my strongest allies. We’re stronger helping one another than we are as competitors. I now represent other artists and coaches to help them expand their businesses while mine continues to expand both nationally and internationally.

Companies often have empty space within their organizations waiting to be used. One local retirement center encourages use of their beautiful conference room to expose the community to their facility. The room is provided for FREE if they can share some quick information with my groups about their facility. They even provide FREE coffee and cake. Their goal is to send out the message that their facility is a great place to retire, and it works for both of us.

Here are some of the other tips I’ve used lately to spend in smart ways. I buy recycled ink jet cartridges. I buy items I use often in bulk from warehouse stores. I barter for services.

My final tip: Getting an article written about you in newspapers and on-line is always better than spending money on advertising. I constantly create a buzz about my business and get FREE publicity!

Finding ways to spend smart is now a creative challenge for me. I hope you, too, can find similar opportunities and feel free to share your ideas with me!

Janet Tanguay is the owner of www.artnsoulinc.com. She is a Creativity Life Coach, Artist, Author and Artist Representative helping people achieve their personal and professional goals using creative expression.