When you’re focused so strongly on helping your business to grow and succeed, it’s natural to concentrate heavily on sales, conversions and profit. Why wouldn’t you want to put the most effort into the part of the business that is hopefully going to make a profit and secure its future?
Sometimes, a business may need further investment for product development or for bringing new staff on board. Business leaders can find themselves looking at existing areas of the company to see where they can free-up some funding. Rather than sacrifice vital elements of your business that you may not deem as important now – but could prove to be detrimental in the future – you can consider other changes to enhance your business’ savings, instead.
1) Switch Your Energy Provider
Did you know that many people don’t switch their energy provider because they aren’t sure how to, or what the benefits would be? And did you know that your business could save hundreds of pounds by switching? If you’re not sure where to start, companies like Tritility are well-known for helping businesses find the best energy deals for their specific needs.
By switching your energy provider, you could also end up switching to one who is more energy efficient. The more efficient your choice of energy provider is, the lower your costs should be. America’s renewable energy capacity is now bigger than coal. Renewable energy is a ‘green’ form of energy and can help businesses help the environment, too. This is because the focus is taken off alternative energy sources that harm the environment and put on more efficient sources of energy, like wind and sunlight.
2) Consider Sharing Your Premises
Overheads like rent and bills can be expensive, depending on where you are in the country. It may be difficult for smaller businesses to pay these bills if they’re only just starting out. Similarly, if larger businesses are up-sizing, an increase in overheads may mean that the pressure is on to increase profits even more. If you work with businesses that have similar working requirements as your company, you could always think about asking them if they’d like to share a workplace. This way, you can split the bills and put your business’ savings to alternative use.
3) Go Completely Digital
Print costs more than you think, so it can be worthwhile to take a step in the digital direction to save some money (that is, of course, unless your business is print-focused!). Going digital means not needing to buy/service/fix printers and not needing to purchase paper/ink etc. anymore.
Encouraging your business to go paperless is also an admirable thing to do for the environment and could give you an additional focus for your company’s ethos. If you use print as a form of marketing, you could even consider taking this in a more digital direction, too. And the money saved on yearly budgets for paper, ink, printer equipment, etc., can be put towards other areas of the business.
You could save hundreds of pounds per year by taking just one of the above points on board. Just think of how you could put this money to better use within your company, without having to sacrifice other, more important parts of your business like your products or services!