As a successful business owner, you want your business operations to run efficiently, producing the best quality work at minimal expense. Sometimes, reducing your expenses requires a little creative thinking. Consider some of these changes to lower the cost of running your business without sacrificing productivity and quality.
Look for Used Office Equipment
New technology and equipment looks nice, but the cost of brand new equipment quickly adds up. Instead of flashy new computers, printers, fax machines, and phones, opt for gently used or refurbished equipment. Used equipment usually costs a fraction of the price and often works just as well as new.
Get Rid of the Landline
In the age of smartphones, a landline is often an unnecessary expense. Instead of relying on an expensive phone service, use a VoIP or virtual phone line. If you aren’t ready to ditch the landline just yet, evaluate your bill and make sure you aren’t paying for features or services you don’t need.
Reduce Printing Costs
Printing can add up to be an enormous cost over time. Eliminate as much paper as you can by switching to a cloud-based filing system for all your files and documents. When you need to print or copy, use refillable cartridges for your machines instead of purchasing new ink cartridges. These steps cut down on expenses and increase the efficiency and ease of accessing your files both in the office and on the go.
Rely on Technology Instead of Travel
If you spend a lot of money on employee travel expenses, then consider ways to slash those costs using teleconferencing software. Rather than an in-person meeting, try conducting meetings on Skype or MeetingBurner. There are still times an in-person interaction is best, but you may find that using high-tech software accomplishes most of your meeting goals without the high price tag.
Rethink Your Advertising
In many cases, technology can help your business operations save money. If you’re relying on traditional TV or print marketing, slash those advertising expenses and opt for internet marketing instead. Place ads on social media platforms, or start a company blog and capture traffic through search engines. Internet marketing also allows you to be more targeted in the audience demographic you’re trying to reach.
Ask About Supplier Discounts
Are you missing out on any supplier discounts? Some vendors offer a discount if you purchase a certain quantity of items or pay your invoices early. If you have a good relationship and regularly pay on time, then it can’t hurt to ask for a discount on your supplies.
If you have entry-level work that needs to get done, don’t pay your upper-level employees to do it. Hire interns to reduce your costs so your other employees have more time to complete their more important tasks. Alternatively, consider hiring freelancers or temporary workers to take on extra tasks.
Consider a Remote Workforce
If you have any employees who are strong producers, self-starters, and highly organized, then consider offering the option for these employees to work remotely. A remote workforce eliminates many of the overhead costs of having an in-house staff, while retaining the same level of quality work.
Opt for Furniture Rental
Furnishing an office is costly, especially if you find yourself with too much furniture and not enough space to keep it. As an alternative, consider CORT Furniture Rental. With CORT, you have the flexibility to only take the furniture you know you’re going to use. You can increase or decrease the number of pieces you want or need as your company grows, and you don’t have to worry about paying for storage or managing a furniture inventory. With CORT, get top-quality furniture without the hassle of buying.