Every person, every business (unless you’re Elon Musk or Bill Gates) wants to save money. Don’t believe I can help you save money? This is my 11th blog of money saving tips and you’ve made it this far! Next on this money saving journey: it’s time to shop it out.

Shop it out? That sounds more like spending money? Well… you wouldn’t actually be spending money in this case. You would be looking for the best deals for the companies you already utilize or new ones that drive a competitive bargain! But, you most likely don’t have time for that as a business owner or entrepreneur.

So what’s my go to solution? A VA will shop around for you and look for deals from various vendors and companies you need to grow your business. I’m here to tell you that you can significantly make an impact of 10 to 30% on your bottom line by working smarter, not harder, just by simply having a VA shop around for vendors on your behalf.

I currently have 25-35 vendors right now, from Verizon to Xfinity to Monday.com. Here’s what happens: you have selected these companies at the beginning of your endeavors and start getting comfortable paying their rates. I’ve even got a dozen subscriptions that I don’t really know I have. Over time, it is time to review those companies and see how much the prices have changed. If it’s drastic, it’s time to look for better options.

I pay my VA to do this digging. Kristina, who I’ve mentioned before, has been an amazing asset for monitoring my bills. It is her job to review the company bills and if something is seeming a little too costly, she will investigate. Why is this bill so high? Let’s negotiate. Let’s find out if there’s a better deal.

Our technique is for once or twice a year to go shop three suppliers in each category, whether that be for marketing companies, websites, etc and rank them from the most expensive to the least expensive. “Bring me the best price, make it an apples-to-apples comparison, and use that as leverage with Xfinity.” She can then go to Xfinity and say, “Hey Xfinity, I found a price that is 30% cheaper. Can you match it?” A majority of the time, they’ll match it or they will at least come down halfway and meet you. This is a great negotiating tool that VAs can do for you. Once you slim down your costs here and there, it can have a significant effect on your overhead no matter what size company you are. A 30% savings for any company is a lot.

Pick your top 10 costs. Go shop it out. Have your VA find a better price. This takes time and is a perfect way to utilize your VA. If you feel like your business is struggling to survive and cash is tight, you’ve got to go to the mattresses (a reference from the movie The Godfather, if you know you know). The economy has been a little uncertain lately so this is a survival tip. You have to do whatever it takes to cut costs, save money, and be able to pay your dues.

VAs do the research. You make the final calls. Shopping out vendors will reduce your bottom line and essentially build better clientele that support your business. And in return, you will save thousands of dollars!