Whether you run a multi-million dollars corporation or you’re a one-man business operating from your living room, the subject of savings is overly present on your mind. However, the topic is more urgent for small to medium businesses, or entrepreneurs who are just starting a new venture.
Given this aspect, we prepared several cost-cutting solutions that don’t require too much effort but bring quantifiable results.
#1: Make your space energy-efficient
While it may be a bit of an investment, in the long run, it is worth to go green. Regardless of the type of space your business is using, you should implement energy-efficient solutions such as those fluorescent bulbs. Of course, there is more you can do, and here is a reliable guide to walk you through the process.
#2: Get used furniture
If you’re just starting or you can’t afford any extra expenses, try to cut down costs by purchasing used office furniture. Check out paper and online ads from businesses who went under, local schools, or even used furniture dealers.
In time, when things start rolling in the right direction, you’ll be able to replace the used furniture with new elements.
#3: Search for coupon codes
Some companies only offer discount codes on holidays, but customers seem to expect some sort of price discount regardless. So, most companies offer coupon codes to attract new business. A good example here is the Nolah Mattress coupon code which people can use all year round.
So, don’t be shy! Go online and search for companies who offer discounts on office supplies or furniture.
#4: Save on shipping
There are times when the added cost of shipping can throw you over the edge (cost wise). Therefore, if your supplier doesn’t offer free shipping find ways to avoid paying that charge.
The simplest way would be to go pick your order from the supplier, but if it’s too far away, it’s not worth the trip. Another solution would be to team up with other small businesses in need of the same type of supplies. If the order is large enough, shipping may become free. If not, you can split it and reduce the costs.
#5: Pay online
When it comes to purchases or taxes, it’s best to make the financial transaction online. Besides saving your time, you also save on bank fees and you may even get a small discount. Many companies and institutions offer discounts for online payments to encourage the practice.
#6: Browse for better offers
If your business needs wholesale supplies, specialists recommend keeping your eyes open for every purchase. The market is competitive and there is a good chance to find better prices for the same products at other suppliers.
Also, you can ask your favorite supplier for a discount. They may want to keep a loyal client, so you may get what you’re looking for. Of course, it helps if suppliers know you pay your bills on time and treat your business partners with respect. Otherwise, your chances at discounts may be diminished.
Of course, there are other tips to save money and increase productivity; you just need to discover the ones that work for your business. The idea is to keep your mind open and always welcome change (when it makes sense).