10 Tips for Cutting Your Costs to Increase your Profits
Our question for personal reflection last week was can you cut your costs to make more profit?
Sometimes it’s easier to cut costs than generate more income. This can be the difference between make and break for a creative business especially in the early days, or during tough financial periods, such as the current economic climate. As our fixed outgoings rent/rates, building costs etc are unavoidably quite high we had to be really thrifty at Blick during the early days to make things work. Here are a few ways we have managed our costs over the years and a few ideas that may help you.
- Make sure your bank account is the best value and shop around to see which accounts offer the lowest bank charges
- Monitor your costs as you go along rather than just at the year end. Sometimes you will find you have been paying for a subscription for something which you haven’t used all year!
- Check any supplier invoices carefully to make sure you have only been charged what you were quoted and there isn’t any added costs which you didn’t agree to
- Check with utility suppliers e.g. broadband, electricity, mobile etc that you are on the best tariff and haven’t been pushed into expensive out of contract tariffs
- Streamline your processes and systems to keep your costs low/ to increase your profitability, do you actually need to do everything you are currently doing or can you cut some of it out? Can you automate some of your processes?
- Though there are times when paying an accountant can save you money to help with annual returns and managing your finances, doing your own book-keeping and accounts/ tax return where possible can help you save money. Or at least keep accurate financial records so your annual bill is lower.
- DIY anything you can – painting, cleaning, marketing etc
- Buy secondhand/ shop around for bargains or upcycle what you currently have for furniture, fixtures and fittings etc
- Be strict with yourself about business purchases. Ask yourself honestly if the purchase you are planning to buy will add value to your business or are you buying it to distract yourself or make yourself feel better or like you are doing something useful?
- Analyse all of your expenditure and think about what value it adds to your business e.g. look at your marketing expenditure to see if you are actually getting results from your adverts and promotions, are any consultants you are paying bringing added value to your business, do you need all of the subscriptions you are currently paying for?
Have you any tips that work for you in your creative business?
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As you wind down for Christmas, read this interview with @verahylands, an artist with a passion for Northern Ireland`s woodlands and natural habitats. Vera is a participant on our Nurture programme and is hoping to build a creative brand that not only brings attention to the beauty of Northern Ireland’s nature but also actively advocates for its preservation.
We`re off now for a wee break for Christmas 🎄 until 6th Jan! Thanks as always for your support this year and happy holidays everyone!
Dec 20
Meet our next Nurture Program participant, artist @verahylands
Can you introduce yourself and tell us a bit about your creative work?
My name is Vera Hylands, and I’m a self-taught artist with a background in business and a lifelong passion for creative work. Although I grew up in the bustling city of Moscow, I have always felt most at home in nature, which fuels my artistic vision and drives the messages in my art. Over the years, I’ve worked in digital textile printing, which has given me a unique understanding of how to transform art into tangible items, but ultimately, my love for art and environmental advocacy led me down a new path. After moving to Northern Ireland, I was deeply struck by the country’s natural beauty, alongside a sense of loss due to environmental challenges. I’m now building a creative brand that celebrates Northern Ireland’s landscapes through abstract art, with the specific goal of drawing attention to the need for environmental preservation and restoration. Using mixed media, I aim to capture the spiritual and emotional essence of nature while telling a story about the region’s environmental past, present, and potential future.
Read the full interview on our website blog (link in profile) 🌟 🌳
Dec 18
Find out a bit about Grainne co-founder of @kitschsistersbelfast and one of the participants on our Nurture Creative Incubation Program!
Dec 17
Find out a bit about Grainne co-founder of @kitschsistersbelfast and one of the participants on our Nurture Creative Incubation Program!
Dec 17
Our next Nurture Program Participant interview is with Grainne Mullan a freelance textile design and co-founder of a CIC called Kitsch Sisters @kitschsistersbelfast which aims to create community connections by providing creative self-care and high-quality workshops to help peoples mental well-being.
Grainne is currently busy organising a Winter Solstice Supper Club for this Saturday night at Mornington Community Project on the Ormeau Road! Booking details on her Instagram ✨️
You can read the full blog on our website link in profile 🌟
Dec 13
Our cosy Cotton Court studios in the Cathedral Quarter, where we currently have this lovely dedicated deskspace under the lightwell
available for £125 per calendar month all-inclusive
Email christine@blickstudios.org for more info or visit the Cotton Court page on our website (link in profile)
Dec 11
Another chance to find out a bit about Bethany Millican @bethanysmillican artist, illustrator and participant in our Nurture Creative Incubation Program. Bethany is hosting an exhibition as part of late Late Night Art East this Thursday 12th December, where she will be exhibiting some of her work at Boundary Taproom and selling some of her beautiful water illustration 2025 calendars. The perfect Christmas present!
Read the full blog on our website blog ✨️ (link in profile)
Dec 10
In October we started an 8 month incubation program for 4 emerging creatives. Over the next couple of weeks we will be sharing a bit about each of the 4 participants. Starting with Bethany Millican an artist and illustrator
Full interview on our blog ✨️ (link in bio)
Dec 5
Stéphanie Heckman, a graphic recorder and visual communicator and one of our Hill St residents, gave a wonderful talk earlier this month. Sharing her creative journey with her business and some tips and insights for other creatives starting their own creative business in NI! Here are some of the key lessons I took from Stéphanie`s talk. I am definitely going to try and be more strategic in 2025 and more bold and brave and think about how I talk about myself and Blick to myself and in public!
Dec 2
Great few days of learning and reflection at `Bautopia 5 Culture and Creativity Conference on Ecological and Financial Sustainability in the creative and cultural sectors` in Bologna! Now off to Venice for a weekend of fun!
Nov 29
In beautiful Bologna for Bautopia 5 Culture and Creativity Conference on Ecological and Financial Sustainability in the creative and cultural sectors. Looking forward to meeting lots of interesting people and getting lots of new knowledge and tips on making our activities and studios more sustainable going forward!
Nov 27
To finish up our finance resources for emerging creatives, we thought we would put together some techniques we have used to manage our costs at Blick over the years!
Read the full blog on our website (link below or in bio)
https://blickstudios.org/blog/managing-your-creative-businesss-finances/
Nov 27
Finally we remembered to get a group photo at our weekly Nurture Program catch-up! Thanks @verahylands for the reminder! I am loving getting to work with these brilliant creatives each week and am looking forward to sharing more about them and their creative ideas on our website and socials in coming weeks!
In the meantime, here`s a quick introduction!
@makeitfashion.bt - local sustainable emerging fashion brand
@verahylands - a super talented artist with a mission to support NI woodlands through her work
@bethanysmillican - an illustrator, currently working on her first solo exhibition for December Late Night Art East and an accompanying calendar of beautiful water themed works
@kitschsistersbelfast - crafty and creative events company. Currently working on organising a Winter Solstice Supper Club for Saturday 14th December
Nov 25
Downloadable cashflow forecast template! Similar to a budget, a cashflow forecast helps you to plan ahead for your creative business it will show you if you will have enough cash to run the business or expand it. It will also show you when more cash is going out of the business than in. We have included a downloadable Excel template linked to the budget template to make it simple for you to get started with putting together your own cashflow forecast for your creative business. Link below or in profile
https://blickstudios.org/resources/useful-finance-resources-links/
Nov 22
Today`s finance resource for emerging creatives is a budget template that you can download from our website as an excel document and complete for your creative business. �Putting together a budget for your creative business will help you to understand your costs, plan out your expenses and reach your goals. It`s also not as complicated as it seems, we have included a downloadable excel budget template on the resources section of our website to help you to put one together for your business (link in our bio or below):
��https://blickstudios.org/resources/useful-finance-resources-links/
Nov 20
�Today for our finance resources for emerging creatives we are sharing what you need to include on an invoice, something that seems obvious, but really isn`t when you are starting out!
�You can download an invoice template as a word or PDF document from the `Resources for Creatives` section of our website (link in bio or below) that you can then customise for your creative business!
��https://blickstudios.org/resources/useful-finance-resources-links/
Nov 19
After a hectic few months, we are back to sharing out useful resources for creatives starting their own business/ practice.
This week we will be sharing some different financial resources. Starting today with some useful financial links for creatives starting their own business
Let us know if you can think of any we have forgotton or anything that was helpful to you when starting out that we can add to the list!
HMRC what does it mean to be self-employed? – https://www.gov.uk/working-for-yourself
Registering as self-employed – https://www.gov.uk/set-up-sole-trader
Registering for VAT if your turnover exceeds £85,000 – https://www.gov.uk/vat-registration/when-to-register
Link to a cashflow template – https://www.startuploans.co.uk/cash-flow-forecast-template/
HMRC free payroll software – https://www.gov.uk/basic-paye-tools
View on our website link in bio or
https://blickstudios.org/resources/useful-finance-resources-links/
Nov 18
We have 1 dedicated deskspace coming available in our Hill St studios from the start of December!
- £165 per calendar month all inclusive (rent, rates, utilities,
broadband etc)
- 3 months minimum contract then on a month by month basis
- 24 hour access
- City centre location
Email christine@blickstudios.org for more info or to arrange a viewing or visit our website:
https://blickstudios.org/locations/hill-street-belfast/
Nov 15
Thanks again to everyone who came along to @stephaniesaloli`s creative talk last Wednesday evening and to Stephanie for giving such a great talk with so many insights and lessons for emerging creatives, as always we will be doing a wee event write up over coming weeks of the key lessons!
Nov 14
This week we have been thrilled to have been able to help with @belfastdesignwk and @the_design_salon `s Sustainable Pop-up Design Museum as part of the RE(act) Festival by the @linenquarter in the Europa Hotel today and tomorrow!
If you are attending any events at the festival or just passing by you can pop by to take a look at the Pop-up Design Museum on the 2nd floor!
The Pop-up Design Museum feature 5 local designers incorporating sustainability into their work
- Sam Lynas Co-founder of @get.haru @helpandreuse a tech startup focused on circular fashion
- Azhar Murtuza Founder of @born_maverick a food innovation company
- Stéphanie Heckman @stephaniesaloli a graphic recorder and visual facilitator focusing on working on climate and sustainability events
- Lee Robb founder of Positive Carrickfergus and Co-founder of Carrick Greengrocers @carrickgrocers
- Emily McIlwaine @emtextiles Woven Designer and Horticulturalist
You can also read fab interviews with each of them on sustainability and their design practice over on the Belfast Design Week Website www.belfastdesignweek.com
Nov 12
