This contributed post is for informational purposes only. Please consult a business, financial and legal professional before making any decisions. We may earn money or products from the affiliate links in this post.
If you want to build a successful business that’s mostly in the black, you can either increase your sales, or you can cut your costs. It is obviously a lot easier, in most cases, to cut your own costs than it is to convince more people to buy your goods and services (although you should ideally be doing both). In this post, we will look at some very simple, and painless, ways to cut your costs.
Buy in Bulk
Even if you’re running a small business, it is probably going to be worth your while to invest in your stock in bulk. Why? Because bulk buying tends to bring discounts with it, and unless your stock is perishable, it won’t hurt to have it, providing you have the space to store it.
Switch to the Cloud
Whether you use www.conversationpiece.ie to switch your phone system to the cloud or you use https://www.memset.com/ to host your servers online, you can save literally thousands every year, and you won’t notice any difference in the office at all. Just make sure that you choose a reliable cloud host.
Write Your Own Content
Online marketing is an important part of marketing your small business online, but if you’re paying someone else to write it for you, then you could be spending over the odds. If you know your sector inside out, then you most of what it takes to write excellent content. You can learn the rest pretty quickly and save yourself a fortune. You’ll probably enjoy it too.
Invest in Power Strips
So much of what the average business spends each year is on waste. One way to eliminate at least one kind of waste – the electrical kind – is by investing in power strips that you can use to ensure that everything is turned off when it needs to be. It’s probably the most painless way to cut your costs!
Haggle with Suppliers
A lot of business people, especially small business owners are hesitant to haggle prices down, but if you have a good relationship with your suppliers and they always pay on time, calling them and letting them know you’re thinking of switching suppliers to get a better deal (even if you aren’t) can yield some pretty good results and all it takes is a phone call.
Choose OEM Products
If you need to buy new products and equipment to run your business successfully, cut the cost by seeking out and buying Original Equipment Manufacturer’s Products that are similar to the original ones, and you could save as much as 90 percent of your production costs in the future.
These days, unless you’re doing something really complicated, free software is just as good as the expensive paid stuff, so make best use of it while you can.
These tips are certainly simply and they’re pretty painless, so it makes sense to implement them where you can to cut your costs and keep your company’s bank balanced in the black.