It’s something that you’ll never stop doing–searching for ways to make your business more cost-effective. It doesn’t matter if your company is well-established or just starting out, if you can find out how to increase your bottom line through money-saving practices, you will be able to thrive as a businessperson. Everybody knows at least a few tricks on how to get cheaper office supplies or how to sell your goods at a mark-up price, but you’ll really be able to impress your colleagues with these innovative money-saving tips.
1. Switch energy providers.
Check your tariff to see if your company is one of the many that have raised energy tariffs this season. If you are paying too much for electricity or natural gas, you can help you compare business electricity prices and advise you on how to change companies in just a few moments’ time.
2. Use free advertising channels.
Marketing is a big part of the success of any business, but you don’t have to exhaust your entire budget to get the word out about your products or services. Use social media to let people know about your business. Sites like Facebook and Twitter are free of charge and one of the most valuable ways to advertise. Also partner up with businesses in your vicinity to swap email lists so that you can send newsletters to some new inboxes.
3. Sell online.
If you’re considering staying open late to sell more products, your extended hours could mean bigger business electricity bills. Save energy and time by setting up a site to sell your products online. Though there are paid services that will tailor your sales pitch to your business needs, you can do almost the exact same thing on free sites like eBay.
It may seem like a small thing, but re-purposing items in the office, such as furniture, can keep you from having to spend money to update the look of your headquarters. You can also recycle when it comes to business supplies by purchasing reusable ink cartridges.
5. Start a work-from-home programme.
Allow employees to telecommute to work at least one day a month to save on your business electricity. You can utilise computer programmes that enable video chat and instant messaging to make sure they still have all of the tools they need to be productive, and your staff will appreciate being able to save fuel, too.
6. Start an intern programme.
Especially if you are a fledgling business that doesn’t have enough money to pay employees, hiring university interns is a great way to get stuff done while enriching the lives of young people. Students are usually energetic, highly trainable and appreciative of the knowledge that they can gain by working with a start-up business. In return for their loyal service, offer them free products, discounted services and letters of recommendation that they can use to take the next step in their careers.