Movies, books and television make it seem like a virtue to be able to burn through cash as though it grows on trees. Smart people know, however, that being frugal is one of the best ways to preserve your wealth. Since you need to have money to make money, spending less is actually the better choice.
How can you save money in your business, though? It’s not as though you’re going to clip coupons and call your cable company to negotiate a better deal like you would at home.
Cost Cutting
You absolutely should go over your budget with a fine-toothed comb to discover where you can cut costs. Do you need a water cooler if you’re providing coffee? How about paper? Are there ways you can streamline things to push your company towards going paperless? You can reuse packaging materials like bubble wrap and those little air-filled bags that cushion your package contents. When replacing light bulbs, you can switch to LED bulbs which use less energy and last longer, both of which save you money.
Upgrades and Updates
Let’s face it, you’ll need to upgrade your office at times. Letting your environment look dated and dingy sends your clients the wrong message. When you’re looking for new office furniture and equipment, you can cut costs buy looking at gently used pieces. Refurbished electronic equipment has the bugs and kinks worked out before you ever purchase it. Plus, these pieces still carry warranties at a significantly reduced price. You can also find gently used office furniture through on-line classifieds or specialty auctions. Don’t forget your floors. Discounts on carpet remnants or discontinued styles of hardwood or laminate are easy to come by.
Consider the Source
You can shop around for the best deals on internet and phone service, too. Knowing the competition is wooing you may encourage your current providers to cut you a deal.
Cutting business costs is easier than you think.
