Business

How to Cut Costs Without Hurting Your Business – 5 Easy Ways

Cost cutting without hurting your business

Taking care of the pennies so that the dollars can take care of themselves is easier said than done. Any business can find ways to trim their operating budget, but the balance between customer satisfaction as well as employee productivity is a tenuous one at best.

Luckily, there are a few ways that you can save money here and there without anyone noticing.

1. Cut Down on Your Bills

Each dollar that you have to pay for a utility bill or a service charge is a dollar that you cannot use to improve your bottom line. One of the major factors that drag down a small business is the energy usage of their facilities. Taking preemptive measures to ensure that warmth stays inside during winter and outside during summer can go a long way towards saving money.

Installing a better insulation system, such as double-ply windows to prevent heat loss to cold glass, will drastically reduce the amount of fuel you burn in order to keep a building warm. Sometimes it is more valuable to go green than to keep the status quo. A geothermal power line or a solar grid can require a large investment up front but will end up paying for themselves very quickly.

2. Eliminate the Paper Office

Though most people think of their small business as an exclusively digital environment, they likely still have to use large amounts of paper each day. Whether you need to put out memos or distribute leaflets or create signatures, the paper-less office still has a lot of paper that it goes through each day.

See Also: 6 Tips to Make Your Business Standout From the Crowd

You can see how much by simply unplugging the printer for a single week, so that employees use email and business servers to connect instead of using up expensive paper and ink.

3. Get Better Deals on Space

Unless you run a business out of your home, you likely have to deal with a lease for an office or a negotiation for a building. While this can eat up a lot of the yearly overhead, the good news is that it is a buyer’s market in the modern real estate world.

You can renegotiate a lease on office space at any time with the help of an attorney, so that you can get lower payments each month and free up more cash. What’s more, this does not affect either your employees or your customers and they will continue to work as if nothing has changed.

better deals in office space

4. Get It Used

There is a wealth of second-hand office equipment out there in the world provided that you know where to look. As businesses liquidate their assets for settlements, bankruptcies, or mergers, they willingly sell their old furniture and equipment for pennies on the dollar.

You can get used furniture for a fraction of the cost of warehouse dealers, often times after only a few months or years worth of usage.

Must Read: Top 5 Benefits of Outsourcing Business Web Solutions

5. One For One

Not all your business partnerships need to be strictly one of dollars and cents flowing back and forth. The barter systems between corporate entities are alive and well. If you can negotiate the transfer of some of your company’s products instead of cash for another business’ services, you have cut down on the expenses considerably.

Better still, you do not need to list any of the received services on a tax form, since there was no money that changed hands in order to get it from point A to point B.

Thanks for reading. What do you think about this topic? Leave your questions, comments, and/or thoughts below!

Post Comment

How To Use Twitter For Brand Marketing Promotion
How To Use Twitter To Brand Awareness Of Your Business
Small Business Social Media Tips
3 Must Have Small Business Social Media Tips from the Pros
Best-Business-Advice
The 3 Best Business Advice You Will Ever Get
business-idea-cycle.
5 Brilliant Business Ideas for Your Company
The Dos and Don’ts of Studying Abroad
The Dos and Don’ts of Studying Abroad
Online Computer Degrees
5 Excellent Reasons Why You Should Pursue An Online Computer Degree
5 Significant Reasons To Plan Your Career Goals
Infographic – How To Overcome Your Fear Of Public Speaking
Perfect Swimwear
This is How You Choose Perfect Swimwear‏
Reasons To Wear Sunglasses
7 Reasons to Wear Sunglasses This Summer
How To Walk in Heels
How To Walk in Heels Like A Pro – 5 Easy Tips and Tricks
9 Pro Tips To Wear Saree For Short Height Girls
9 Pro Tips To Wear Saree For Short Height Girls
Carpet shampooer
How Does A Carpet Shampooer Work?
5 Things to Remember Before Turning Your Old Attic Into a Brand New Bedroom
Pinterest to Inspire Your Home Improvement Projects
5 Pitfalls of Using Pinterest to Inspire Your Home Improvement Projects
ways-to-add-detail-to-your-furniture
5 Amazing Ways to Add Detail to Your Furniture
Why Do I Dream About My Ex
Why Do I Dream About My Ex – What Does It Mean and How To Stop Them?
How to get your ex girlfriend back
How To Get Your Ex-Girlfriend Back – The Ultimate Guide To Get Her Back
5-Stages-of-a-Committed-Relationship
Relationship Stages: The Five Stages Of A Committed Relationship
Conversations-That-Could-End-Your-Relationship
Conversations That Could End Your Relationship
last-minute-christmas-shopping
How to Deal With Last Minute Christmas Shopping?
underwear bargain
Bagging an Underwear Bargain – Save Huge & Look Sexy
shopping-online-reviews-and-ratings-important
Why Ratings And Reviews For Online Shopping Stores are Important?
top-10-air-conditioners-in-India
Top 10 AC Brands to Ward Off the Scorching Heat
Top 10 beaches
Top 10 Beaches That Will Leave You Mystified
Crazy Things To Do in Goa
5 Crazy Things You Can Do in Goa
Honeymoon Destinations To Visit In Turkey
Best Honeymoon Destinations To Visit In Turkey
A Unique Christmas Experience – Travel Guide to Sydney
How to Install A PBX Phone System
How to Install A PBX Phone System in Small Enterprises
How-Mobile-Gaming-Makes-Big-Money
How Mobile Gaming Makes Big Money
Best Android Apps for Planning Your Budget
10 Best Android Apps for Planning Your Budget
What is Serverless Computing
Serverless Computing – A New Approach With The Old Values