As the world revolves, time passes by, everything in it innovates and sudden changes happen in just a snap. That can be related to the business industry – if you’re in the said industry, you’re aware that changes or innovations happen from time to time that it’ll be somehow hard for you to cope with the rhythm.
The only way you can survive the industry is to uphold a good amount of savings for both the company and the workforce to make it until eternity can take. However, retaining your business’ status or growing your business more and more will be easier if you happen to decide to follow these helpful suggestions.
#1. MAKE A “’PAPERLESS” WORKPLACE
This may sound a little odd at first since most companies are used to having tons of papers in the workplace. Somehow, going paperless little by little may help reduce your expenses cutting out the budget for the ink, papers, and printers and even for the storage.
You can share documents via email or any online faxing service. Try to reduce paper usage as much as possible, come to think of it, you’ll be able to cut a good amount from the company expenses and also help in the natural resources conservation,
#2. OPT FOR ENERGY-EFFICIENT APPLIANCES
This is highly advisable whether your business is big or small. It’s the most practical and simple way that you can do to lessen the company expenses. Imagine how big the workplace is and how much workforce you have – everyone with their personal computers, and there are some who will charge their gadgets in the office and the use of electricity is uncontrollable.
The bigger the workforce the more usage of electricity there will be. That’s why you should encourage your employees to be very mindful of their gadgets – to unplug any unused gadgets or technologies all the time.
#3. KEEP HIRING INTERNS
Hiring interns may be common to most of the companies but for some, or maybe for your part also, it’s only a hindrance to the progress of the business. Well, that’s unacceptable – because actually, hiring interns will lessen your expenses instead of hiring contractual employees whom you’re intended to pay for their monthly rates.
Interns are somehow making a great impact on your company in a way that they can share fresh new ideas even in just simple ways. Also, they reduce the workloads of many departments or should I say employees by helping them do such assigned tasks.
#4. DON’T HESITATE TO BUY USED EQUIPMENT OR FURNITURE
If you opt for buying used equipment, then consider yourself as a hero of the year – of course, kidding aside. By doing this habit, evidently, you’ll have a lesser amount of expenses.
Buying second-hand pieces of equipment is like another way of recycling. Of course, you should still choose equipment or supplies that are worth to be bought and also worth the price.
#5. CHOOSE THE MOST EFFECTIVE AND CHEAPEST LOCATION
In choosing your business’ location, it must be kept in mind that the location isn’t only pleasing but most importantly, it must be somewhere accessible to your chosen target audience and the price for lease or the market price is cheap.
Because there are some businessmen who opt for something and somewhere that may cost them more than their allotted budget for location. It’s important that you check its proximity, accessibility, quality of the building or the place, and the price.
#6. DECIDE ON A FOUR-DAY WORKWEEK
This suggestion isn’t merely for your own good but also for your workforce. In this way, you’ll evidently see the lesser amount of expenses, particularly on the water and electricity expenses.
Moreover, your employees won’t be that physically and mentally drained by going on a five-day workweek. Of course, you’ll also be the main contributor to the great improvement of your workforce’s morale and productivity.
#7. LOOK FOR A DISCOUNTED BUSINESS INSURANCE
Getting business insurance is highly advisable for business owners. However, if you’ll be availing one, then you might think of negotiating the discounted business insurance.
You can negotiate with your chosen insurer or insurance company to give you at least a little discount on your business insurance policies especially that you’ve previously acquired other insurance for your business.
#8. BUILD YOUR ONLINE PRESENCE
Nowadays, advertising has reached another level and is evidently more effective. Advertising is the traditional form to market such services and/or products to the public. However, with the emergence of technology, it’s now possible to reach your target market only by posting your ads online.
If you still want to leave a print ad for your business, what you might want to do is to cut the cost for the print advertisement and learn to build your online presence. The larger the audience you can reach online, the more chances you have to build your online presence effectively.
#9. INITIATE A CHEERFULL AND CALM AMBIANCE IN THE WORKPLACE
In order for your workforce to finish the assigned tasks earlier than the given due date, you must initiate a jolly and calm atmosphere in the workplace. Why? Simply because if the workforce is eaten by the stress, pressure, and tiredness, then there’s a high possibility that their workload will take double the expected time.
#10. DON’T BE AFRAID TO AVAIL OUTSOURCED SERVICES
If you think that availing outsourced services cost your company more expenses, you’re wrong. There are lots of available outsourced services that will greatly help to taper off your company expenses.
You can opt for outsourced HR staff, outsourced data centre services which can offer you a cheap dedicated server, outsourced or freelance employees, and so on. An outsourced service will deliver you a visible and satisfying cut on the costs especially on the supposed budget for the workspace, employees, infrastructures, office and computing equipment, and office supplies. You can try the said services or any available outsourced services that you may find helpful for at least a month or two and see the results for yourself.
Now that you’ve been given a little suggestion on how you can help the company save, you better make sure to apply it every day. If you got a story to share on how you’re saving or tapering off company expenses, feel free to share.