Ways to Lower Overhead Costs at Your Small Business
Most small business owners know that you have to spend money to make money. However, you don’t have to spend every penny you earn just to make the business thrive. There are tons of minor things you can do to cut down on
spending and increase your bottom line. While these solutions won’t make or break your bottom-line, the small
costs can start to add up quickly.
Here are 11 ways you can lower the overhead costs at your small business:
Turn off the lights
It might seem like a silly solution, but turning off
the lights in rooms that you are not using in your
office can add savings to your energy bill.
Buy used furniture
You can find perfectly good office furniture at used
furniture stores in your city. They might have a few
scratches or dents, but the savings will be well over
50% off the new retail value.
Go paperless
The costs for paper and printer ink can be very
high. Cut those costs and use digital options as
much as possible.
Work from home
If you’re a one man or woman show, don’t waste money on
renting an office space. Instead make a home office, separate
from your living area, and work out of your home. Even if you
have a few employees, allowing them to telecommute can save
you the pain of having to pay for rent.
Cut travel costs
Business trips don’t need to be a first class
experience every time you have a conference or
trade show to attend. Instead opt for getting a
coach airline ticket or staying in a less expensive
hotel.
Create training resources for new employees
Avoid wasting your seasoned employee’s time on training new employees.
Instead, develop a PowerPoint or video that has all of the training
information for the new employee. Simply have new employees watch the
training PowerPoint or video and have any follow-up training and
questions covered by seasoned employees.
Buy used electronics
You can buy quality used or refurbished computers, laptops,
mobile devices, and printers at a fraction of the retail price. Use
the savings to buy the more high-end electronics that are
required to run your business.
Trade services
Use your negotiation skills to barter or trade with
other businesses. Chances are that you can find
another business that needs your services and
would be willing to trade services that your
business can use.
Use independent contractors
Don’t waste time and money hiring and training employees when you
can easily contract the work out. There are numerous sites that can
pair you up with a qualified freelancer or contractor. Plus, you’ll save
money on overhead costs that you would typically have to spend on
employees such as insurance and taxes.
Cut your landline
Do you still have a landline at your business location? Consider
cutting the landline if it’s not essential to your business. With
most cell phone plans offering unlimited minutes, you could
easily get by with just using your cell phone as your main
business phone line.
Ask employees
Be sure to ask all of your employees on ways that
the business can cut costs. Your employees may
know places to cut costs that you’ve never even
considered.
To learn more about growing and running your business, please contact
a Nevada Corporate Headquarters representative at 1-800-508-1729,
Monday thru Friday, 8 am – 5 pm PST.
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