Super Simple Way to Cut Costs In Your Coaching Business

Earlier today, my husband said jokingly (that would be Steffen if you’re new around here) that horse owners don’t want money. And my horse budget has probably been up for discussion round about 6827 times by now. My answer? It’s not that we don’t want money. It’s just that we need horses.

(#sorrynotsorry)

Now that got me thinking. As online entrepreneurs, side hustlers, and small business owners, we often face a similar dilemma. We’re passionate about our businesses and getting good results for our clients and customers. But we can easily get caught up in the trap of “needing” things that are actually just shiny distractions. It’s like convincing yourself you need that fancy new saddle when your current one works just fine.

(Trust me, I’ve been there!)

((and yes, I’m nearly done with the horse analogies, promise!))

So let’s saddle up (okay, NOW I’m done!) and look at ways to boostrap your business by distinguishing between true needs and wants. The goal is to keep cut the business expenses while upping your profit—without sacrificing your precious time or quality of work. Regardless if you want to start a business with no money or you want to reduce costs, you’ll find some helpful tips here.

Cut business costs by assessing need vs. want

It’s easy to fall into the trap of thinking you need all the bells and whistles to succeed. But you probably don’t. Shiny object syndrome is a very real and painful thing for online entrepreneurs and small business owners. There are other B2Bs everywhere that want to sell you something. Many promise you blueprints for success or the “next big thing” that’ll revolutionize your business or 10x your income.

Maybe some of these products will do just that, and many of them won’t. Most of these shiny objects are just that — shiny. They catch your eye and make you dream big. Then they often end up gathering digital dust in your downloads folder or draining your bank account through forgotten subscriptions. So a very real way to cut business costs or start a business with to no money is not to fall for it.

UNLESS you actually make an aligned and thought-out investment that you both need AND want to move your business forward. Because if you go from one extreme to another — where you’re afraid to make investments —  that too can stop your growth. It’s all about balance. Your business is like a garden.

(I promised no more horse analogies, so we’re branching out. Pun intended.)

If you throw seeds (money) everywhere without thought, you’ll waste resources. But if you never plant anything, well, you can’t expect much to grow. So, how do you figure out if an investment is actually worth it and not just a case of shiny object syndrome? Here’s my scientific method (and by scientific, I mean it’s mostly gut feeling with a dash of common sense):

• Is this solving a real problem in my business, or am I just creating problems to solve? (Be honest with yourself here!)
• Will this help me serve my awesome clients better? Is it just making my life easier?
• Can I see how this will make me money, or am I just hoping for a business miracle?
• Does this make me want to do a happy dance, or am I just buying it because everyone else is?
• Can I afford this without surviving on ramen noodles for the next month?
• Does it sound too good to be true? Then it probably is just that.

If you’re nodding your head to all of these, then congratulations! You might be looking at a worthy investment. And there’s no shame in admitting something isn’t right for you right now. Your business, your rules!

Ask yourself these questions to overcome shiny object syndrome

Okay, so where to even start bootstrapping your business and cut costs? I’ve run online businesses since 2016. Here are a few typical areas where I see people get a little too swipe-happy with credit cards. I’m totally guilty of this too, so no judgment here!

• Memberships: “Oooooh, “just $9.99 a month!” yeah, but those subscriptions add up fast. They’re only a steal if you actually use them. If you only watch 1 out of the 237 Masterclasses available in 12 months, then you’ve actually paid $119,88 for it.
• Software Subscriptions: Ah, the SaaS trap! Again, only keep subscriptions you actually use, and that genuinely make your life easier.
• Office space: Not everyone is like me. One of my big motivations for starting a business was to actually work from home. But what if working from home feels a bit too homey? Well, before you sign that lease on a swanky co-working space, consider whether it’s truly necessary for your current stage of business.
• Courses and programs: Learning is great. But only as long as you actually implement what you learn and it fits with your long-term vision for your business. Raise your hand if you’ve ever bought a course and then… never opened it.
• High-end equipment: Yeah, that top-of-the-line camera would be nice for your social media content. But can your smartphone camera get the job done for now?

But what if you really want AND need something that isn’t within your budget? Well, then, it’s time to get a bit creative. Let’s say that getting out of your home would really benefit your business. I get it. Working from your kitchen table while your kids have a dinosaur vs. unicorn battle in the background isn’t ideal.

Here are some ideas for you, just to illustrate:

• Can I create a dedicated workspace at home?
• Would occasional cafe work scratch that “get out of the house” itch?
• Could I rent a meeting room when I need to impress clients?

If you feel you REALLY need a course, membership, subscription, or some equipment, here’s a few questions for you:

• Have I implemented what I learned from the last course?
• Do I have the time to actually complete this?
• Is this solving a problem I have RIGHT NOW?
• Is it in line with my marketing or business strategies, or am I veering off course?

Another way to bootstrapping your business and cut your costs is to channel your inner Marie Kondo. Look at each expense. Does it spark joy… in your business results? If you still find the decision difficult, remember that every “no” to an unnecessary expense is a “yes” to your business’s financial health. Be intentional with your resources and focus on what truly will make a change in your business.

Make sure you only make budget-friendly investments

The pricing has to be within budget, too. I’ve learned the hard way that when I decide to invest, the payment size has to feel good. Otherwise, it’ll feel icky and affect my results from said investment.
Yeah, I’ve been overly excited and chosen payment plans for courses that were too big of a stretch for me.

I used to think, “This is it! This is the thing that’s gonna skyrocket my business!” But you know what happened? I felt resistance every time those payments went through. That pit in my stomach definitely affected how I showed up. Instead of feeling excited and motivated, I felt pressure.

Pressure to make it worth the money, pressure to implement everything immediately. It wasn’t a good headspace for learning or growing.

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Okay, now it’s time to implement and cut your current business costs

Now it’s time to reduce your current costs. Start by getting all those business expenses out in the open. Pull out your bank statements, credit card bills, and that drawer full of receipts you’ve avoided. Spread them out on your kitchen table (or your office desk if you feel fancy!). Now, group your expenses into categories like software, equipment, office supplies, marketing, and whatever else makes sense for your brand.

This isn’t just busy work. It’s going to show you where your money’s really going. You might discover that you’re spending more on ‘want’ categories than on actual business necessities. Go through each expense and ask yourself all the questions we went through earlier. Be brutally honest. That fancy project management tool might seem necessary, but could a simple Trello board do the trick instead?

Ditch that expensive email marketing platform if you only send out a newsletter once in a blue moon— even if it’s a need. Maybe a free Substack could work for now? Another alternative is Mailerlite. They offer a forever free plan for folks with less than 1000 subscribers. It’s brilliant for starting an email list or for people with a small list.

The next step is to use your current resources to their full potential. Make sure you’re squeezing every last drop of value out of what you’re paying for. I love Canva Pro because it includes so much that I used to pay for separately, such as stock photos, videos, and audio. I create Reels, TikToks, presentations, and even record evergreen webinars and workshops there.

But the goal here isn’t to strip your business down to the bare bones just for the sake of it. We’re making sure that every dollar you spend is going toward a true need, and not feeding into your shiny object syndrome. You might find that letting go of unnecessary wants feels incredibly freeing. Plus, think of all the room you’re making for new opportunities and growth.

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Must-have tools for bootstrapping entrepreneurs, side hustlers, and small business owners

I’ve talked a lot about what not to buy. But what should you actually get? What are smart choices for someone who wants to cut back on business costs … or maybe even start a business or new side hustle with next to no money? Here are some tools that help you simplify your workflow, boost your productivity, and free up more time.

Project Management & Organization

• Trello (free): If you’re a visual person, you’ll love Trello. It’s like a virtual whiteboard where you can organize all your tasks, collaborate with others (even if it’s just you and a virtual assistant!), and keep track of your progress. It’s perfect for managing content calendars, product launches, or even your weekly to-do list.
• Notion (free and paid): Notion is the ultimate productivity tool. It’s an all-in-one workspace where you can manage projects, take notes, create wikis, and so much more. It’s incredibly flexible and can adapt to your specific needs. And yes, you can even create websites and sales pages in there.
• Google Workspace (paid but affordable plans): I started out as a freelance writer, and I can’t recommend Google Workspace enough. Google Docs and Sheets have been absolute lifesavers for me. You can collaborate with clients in real-time, access your work from anywhere, and say goodbye to those confusing email attachments. It’s also good if you need a professional email address, shared calendars, and cloud storage for documents.

If you already have a website, your hosting plan might include a free email. So check that out before investing in Google Workspace just to get an email address for your business.

Communication & Collaboration

• Slack (free for small teams): Need a quick and easy way to communicate with your team or clients? Slack is the answer. It helps keep conversations organized and reduces the need for those never-ending email chains. You can also use WhatsApp, Voxer, and other messaging apps.
• Zoom or Teams (free for basic meetings): Zoom has become essential for video calls, client meetings, or even hosting webinars. Microsoft Teams can also be a good option for free video calls.
• TidyCal ($29 for lifetime access): I love Tidycal on AppSumo! You pay $29 and have forever access to this calendar and scheduling tool. No more monthly subscriptions. And yes, you have the option to charge for your consultations.

Marketing & Sales

• Canva (free): Don’t worry if you’re not a designer! Canva makes it easy to create professional-looking graphics for social media, blog posts, or marketing materials.
• Mailerlite (free for beginners): Email marketing is still a powerful way to connect with your audience. Mailerlite allows you to build your email list and send out newsletters to nurture those valuable relationships for free until you hit 1000 subscribers.

Website & Content

• WordPress (free & paid): WordPress is a popular and flexible platform for building a website or blog. Many free themes and plugins are available to help you get started. But if you want to go down the WP route, I recommend paying for quality hosting. Siteground is super-fast and affordable. Plus, your first year is heavily discounted.
• Canva: Yes, you can create a free website on Canva that looks stunning! It’s a really good option if you just need somewhere to direct your people. But it’s not very good for SEO, and you can’t blog there.
• Carrd (Free & Paid): If you need a simple, one-page website to showcase your business or product, Carrd is a fantastic option.

These are just a few suggestions to get you started. The best tools for you will depend on your specific needs and preferences. Here’s a few tips to investments that are good for most businesses and entrepreneurs:

• Upskilling in your area of expertise
• Investing in targeted marketing efforts
• Building systems to simplify your workflow

One quality tool is better than cheap alternatives that you secretly hate using

You’re trying to save some cash, so you opt for the budget-friendly option instead of the tool you really want. But every time you use it, you’re gritting your teeth and muttering under your breath. It’s like buying cheap but low-quality shoes. Sure, they cover your feet, but they’re so uncomfortable you never want to wear them. Or they break after a few months, so you have to spend more money to replace them.

Sometimes, money-saving choices end up costing more in the long run. You find yourself constantly looking for upgrades or replacements. It’s like that old saying, “Buy cheap, buy twice.” Except in the world of business tools, it’s more like “Buy cheap, buy five times, then finally get the one you should’ve bought originally.”

When you’re just starting out, sometimes you have to make do with what you can afford. There’s no shame in that game. We all start somewhere. If that somewhere is with the free version of a tool or a budget-friendly alternative, then that’s okay. You’re still moving forward, and that’s what counts.

But as soon as you can, invest in quality. One solid, reliable tool that does exactly what you need is worth way more than a digital junk drawer full of half-baked solutions. You’ll work more efficiently, produce better results, and probably enjoy the process a whole lot more. That’s a win for you and your customers or clients.

Bootstrapping and reducing expenses can feel very freeing for your business

When you cut your business costs, it can actually be a very freeing experience. Every new tool, every course, and every shiny object comes with a hidden cost. Whether you run a small business or side hustle, or you’re just starting up as an entrepreneur, there’s so much to do. We wear many hats, and it feels like we’re juggling 9387 things at once.

And that to-do list seems to be breeding while we sleep. Each new thing demands a slice of your attention, a piece of your potentially already overloaded brain. A cluttered brain makes it hard to focus on what really matters in your business. In other words, we get sidetracked by shiny object syndrome.

If we spend time trying to use all the new tools and implement all the new knowledge, it’s so easy to lose track of the main goals and strategies. And I know if I get stuff that I don’t end up using, it’s still adding to the mental clutter—because it’s in the back of my mind. I feel like I should do it since I invested in it. That can be really draining both mentally and money-wise.

Conclusion: Do this to cut business costs

Cutting business expenses isn’t about being cheap—it’s about being smart with your hard-earned cash. Next time you feel the shiny object syndrome sneaking up on you, take a breath and ask yourself: “Do I really need this, or do I just want it?” Circling back to my horse analogy—it’s not that we don’t want money in our businesses. We just need to be clear about what we really need and prioritize.

So don’t let fear hold you back from investments that could genuinely help your business grow. At the same time, don’t let FOMO (Fear of Missing Out) push you into purchases that aren’t right for you right now. Otherwise, it’ll drain your funds and clutter up your digital (or mental) space.