They say in business that you have to spend money to make money, but often that isn’t strictly true. If you want to make more money without having to spend a single bitcoin, here are some of the ways you can increase your profits for free.

Reduce your utility costs

When you’re in business, your main focus to make money is probably the product or service you offer. You want to make the most appealing product for the lowest price, so you sell lots and earn as much money as possible from every sale. What you might forget about is everything that surrounds you in your workplace. For example, your rent, your energy bills, and even having to buy things like soap and toilet roll can all eat into your profits. If you have a particularly high water rate, something as simple as washing your hands could even have an effect on the profit you declare every month.

With this in mind, it’s important to make sure you get the best deals for these utilities. Find a website where you can compare water deals, for example, utilitybidder.co.uk, and choose whichever plan will save your business the most money. Depending on how much water you use and where your business is based, there are different deals from different companies that could save you hundreds of pounds every year. Once you’ve found the right deal, switching can be as easy as filling out a form on the provider’s website and waiting for them to confirm you are now one of their customers.

Increase your prices

You might think the best way to make profits is to make your product the cheapest on the market. For many customers, this will be one of the major things they consider when choosing a product to buy for the first time. The only problem is if that cheapness has come at a cost and has impacted the quality of the product you’re selling, it’s highly likely they won’t be happy with the product and won’t want to buy it again. That’s why it’s sometimes better to increase the price of your product rather than make the product cheaper. If you sell your products through resellers, such as grocery shops, the customer might not even notice a small price increase of a few pence when they get to the till for your particular product. As many other products are doing the same, they might not even be able to tell that your product has increased in price.

Produce some free marketing

Another great way of earning more profits is simply attracting more customers. Traditionally this would have required you to spend money on something like a big newspaper advert, printing flyers, or even hiring a billboard. Now marketing can be as simple as logging onto your social media account and posting information about your latest product or deals. Make sure you include a high-quality image of your products to grab their attention. Also include clear information and even direct links to your website about how they can get this deal.