Cutting costs in your small business
When running a business, every penny counts. It is important to watch what you spend and save money wherever you can – this way you will be more prepared for any surprise expenses or unexpected slumps in sales, as well as maximising your profit.
Reuse and repair, do not replace
Do not be so quick to replace that malfunctioning device or order a whole new range of electronics – order replacement electronic components available from over 3,000 suppliers and get those devices working as good as new ones. Buy second-hand equipment and office furniture to save you a huge chunk of change on your initial expenses.
Implement energy-saving strategies
Save on utilities by switching to energy-saving light bulbs and make sure all electronics are turned off overnight and over the weekend. Install a fan to circulate air rather than having the AC running all day. Shop around for electric and gas suppliers to get the best deals.
Post jobs on social media
Posting a job on social media is free, using sites like Monster and CareerBuilder are expensive and you can end up with hundreds of applicants flooding into your inbox. Use free channels like social media or go through career center portals at local universities instead.
Choose an office space with natural light
This is an easy and simple way to save on energy. If you choose an office space with natural light, then you will be saving money on lighting whilst also creating a more positive working environment for your employees. When you are stuck working behind a computer all day, unable to go outside In the sunshine, it is crucial to get a bit of natural light into the office to keep spirits and productivity up.
Frontload your content marketing for the year
Content creation can cost you in both time and money, a great way to optimise this process is to create your marketing content in batches. If you are creating monthly blog posts, outline a year’s worth of blog titles at a time then create the graphics for the year using these preset titles. You can also create social media graphics to correspond with these posts. Next, you can write the blog articles in a batch by working on a year’s quarter at a time (or more). Once the articles are written and the graphics designed, you will have a month’s worth of content ready to schedule on your website and promote on social media. And once it is all done, you do not have to worry about it. This is saving you time and money and reducing stress.
Go virtual Instead of worrying about how you can lower the cost of your utilities or stressing about locations for your offices, cut these problems out altogether and go virtual. Telecommuting can save your business money and your employees’ time. As well as saving you cash, telecommuting improves the quality of their life and increases employee engagement and satisfaction which can reduce employee turnover thus saving you money on hiring costs.