15 Cost Cutting Secrets for Business

In this day and age, running a business can be tough – especially if you don’t research your industry properly. Once you start running a business that is successful, it can be easy to get complacent and start spending money unnecessarily. However, if you want your business to do well the best thing you can do is be careful with your outgoings so you make as much profit as possible! Does this mean not spending money out at all? No! It means being careful with what you spend and being clever with your money. So what can you do to save yourself money?

Insurance – Always shop around for insurance policies to make sure you are getting the best deal. One great way to do this is to use insurance comparison websites.

Rethink Software – Although the software you are using could be great, how do you know there isn’t better out there? Open-source software can be a great choice, but even something a little cheaper than you have now could help.

Internet Connection – How much does your internet connection cost you? When was the last time you changed ISP or negotiated a new deal? Don’t assume you are already getting the best deal for your internet connection, instead shop around!

Hire Freelancers – Have you considered hiring freelancers to do a few jobs around the office rather than someone full-time? Websites like People Per Hour are a great way of getting hold of affordable freelancers that can help.

Watch Your Energy Usage – Most of us are used to switch off lights and electrical gadgets around the home when they are not being used, your business premises should be no different. Encourage employees to power down computers at the end of the day and switch off lights when you leave at the end of the working day.

Rent Out Office Space – If you have a business premises that is larger than you need or you have an office that you don’t use, why not consider renting out this to someone else? Even if this is just a minimal amount can help towards your bills.

Keep It In The Family – Have you got teenagers that could you a little bit of an extra income? Why not hire them to see if they can help you with the work that needs doing.

Save On Office Furniture – When you need office furniture shop around to make sure you get the best deal. Looking for voucher codes and deals offered by different companies to see how much money you can save.

Haggle – Whatever you are buying and whoever you are buying it from, don’t be afraid to haggle for a better deal.

Don’t Over Spend On Advertising – Although advertising is important, you should spend more on this than you need to. Take advantage of social networking because this is a great, free way to spread the word of your business.

Collect Email Addresses – Contacting customers via email is free. Make sure you collect email addresses of customers as you can use this to create a mailing list and contact them when you need to.

Networking – Making friends and networking with local businesses is a great way to get to know people and spread the word of your business. Partnering up with other businesses is a great way to swap contacts and resources.

Testimonials – Reassure your customers for free by including testimonials written by previous clients on your website.

Save On Stamps – Be organised and send letters a day or two early. If you leave things to the last minute then you’ll always have to buy first class stamps which cost more. It might not seem a lot but if you send lots of letters a year this amount can soon add up.

Outsource Your HR – Rather than pay to run your own HR department, could you benefit from outsourcing then and getting someone else to take care of your HR for you?

These are just a few of the ways you and your business could save money. For more money saving tips head over to the Unum Blog today.

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