Business wasn’t meant to be easy. Nor was is something that you will have gone into lightly. Often times to be successful means to be cutthroat and to be able to know when you are doing something wrong. When you pinpoint the things that are not needed, then you can start to save costs with operations and well, when you can do that- you save cash and have more cash for yourself at the end of the month! But how can you do so without compromising quality and of course making changes that your existing clients will not like? Read on to find out how.
Kill The Weeds!
Nope, we don’t mean this in reference to gardening, but by weeds, we mean the things that are not needed in your company. You know we have all been guilty of subscribing to things that are not always needed to keep the boat floating on. You need to be able to go through all of your accounts and check the bills that are outgoing. Then, of course, see the subscriptions that you have that are not in use, and the ones that are. Ultimately the end goal is to rid yourself of unnecessary expenditure, be it TV subscriptions, phone lines, ongoing stationary orders and the like- even catering supplies that you really just do not need. This is a thing that scares many, as they don’t like to be the ball bearer of bad news, but you really need to know when you need something, and when you don’t. If it is compulsory you simply cannot survive without it. If it’s not, then it is an unwanted outgoing that your business really does not need to be dealing with- scrap it! The objective is to tie up extra cash that you can inject back into your business in other areas that are needier.
Take a Look At Staff Hours
Now, this may be something that they will hate you for, or that you fear to do but at the end of the day this is a business, not a charity! You should check out the hours that your staff is paid for, and make sure that they are necessary. If there is overtime, weekends, holidays etc that are being worked, make sure that the staff physically need to be there, In such an age of technology and the worldwide web it is not always compulsory to have staff present for overtime etc. Also, see if there is a way that you can implement a technique of allowing your staff to be able to work from home for a reduced rate for certain tasks. Working from home means that it rules out the costs of commuting, and of course, they will be more comfortable in their home surroundings! It could actually go down very well. For example, tasks like writing, mailshot, and outbound calls can easily be done at home. So can mediocre tasks like social media accounts and posting pictures for advertising purposes.
Purchase Roller Banners
Yes, as silly as it may sound, roller banners are one of the UK’s most economical methods of marketing In-fact, so much so that you can use them time and time again. By the time that you have done using them, you will have had so much use out of the roller banners that you quite literally will have had much more than your money’s worth out of them! Buying roller banners is a great idea for marketing as you can use them inside, outside, they are easily transported, you can attend just about any event with them, and of course when you feel like getting a bit more promotion all you need to do is walk outside, stick up your stand and ouila! You will be able to have one good method of advertising that can be pulled out and used as and when you feel like it!
Barter and Bargain Hard!
When you are purchasing items from people, never be scared to ask for a discount. Yes, it is not common practice to barter in the UK, but it can go do down a treat, if it is a service or product that you purchase regularly, make sure that you ask for a discount! The worst case scenario is that you will be told no.
Revaluate Your Transportation Costs
If you travel to work, have a careful look at your cost of getting there. It may be that you drive, and can save by catching the bus. If the bus is not your thing then there may be an annual train ticket that you can purchase to save money in order to commute. When you can save money on travel, without realizing it you swap from driving to other forms of transport you are also looking after your health more as you will be more active too. When you are more active you are also a lot more healthier and saving cash on medical expenses too!
Switch Your Shopping To Online
Yes, your business supplies can literally be ordered online, for a lot less than what you are ordering things for now. In fact, if you are one of the many business owners that have not transitioned to purchasing supplies online then you should make sure that you do so right away. It is unbelievable just how much you can save there are so many methods of getting things cheaper. There are also online price comparison websites that offer you the chance to be able to save even more than just ordering from the first few sites that you come across!
So, there you have it, some amazing methods of being able to save some money for your business. Let’s face it there is so much to purchase when you are into business that every penny you can save, really does count. It is time to reevaluate your outgoings and expenditures now!