Running a business is a big job. As the owner, it’s your job to keep things operating in a way that allows the company to make as much money as possible. Your success and the success of the people working for you depend on it. That means you should be sure to do everything you can to reduce costs in the office.
Here are some tips on how to save your business money.
There are a number of items you use at work that can be reused. These items include everything from paper, electronics, and plastic water bottles. Provide recycling receptacles in the most common areas of the office. You should also put up posters reminding people how valuable it is to recycle. Allow people who share a passion for the environment to volunteer. They may even be able to help encourage others to help out around the office and at home.
There is a lot of paperwork associated with business. This includes new employee paperwork, contracts with clients, and daily correspondence. Keep things as digital as possible! Send emails instead of passing out actual papers. If people do request a physical copy of a certain memo or reference, that should always be an option. However, most of the employees will be fine with the electronic copy. You should also monitor exactly what is being printed. Many people abuse the printing policy at work to print long, personal items. Some people will even print dozens of copies. Don’t allow this. You will save money on ink as well as paper.
Find ways to be energy efficient
You spend a lot of money on electricity every month as part of the overhead of running your business. Look for ways to cut down on these bills. Changing the temperature just one or two degrees can make a significant difference! All light bulbs should be LED light bulbs. Natural gas prices in Calgary are lower than electricity, so it’s a good idea to switch to gas-powered appliances when possible. You can also use automated thermometers to turn off the HVAC system when no one is in the office. The automated system can turn it on again the next morning.
You may think that absolutely every single meeting is important. The truth of the matter is that a lot of items in meetings can be communicated via email. This keeps everybody working. You don’t want to take people from their work unnecessarily. Only have meetings for extremely important items and only with the people who really need to be there.
Buy in bulk
There are certain items that every single business needs. To unload them quickly, companies will offer these items at a discounted rate for people who buy a large number of items at once. This can equal some great discounts, especially on electronics.
Do your own marketing as much as possible
Many companies spend a lot of money for people to manage marketing when they could be doing the work themselves. Most of us know how to run a Facebook and Instagram account. If you are the owner of the business, you can take on these responsibilities yourself. Post regularly but not enough to annoy your followers. You can also have items manufactured with your company logo. Be sure to wear your gear everywhere you go so that you can answer any questions you may have.
Utilize your workforce wisely
A large portion of a company’s expenses go to pay the employees who help keep things running. As owner, it’s your responsibility to ensure that you hire the right people in the right positions. Follow proper vetting procedures to prevent bad hires. You should also look for ways to increase productivity of day-to-day processes. There are a number of positions that you probably don’t need a full-time employee for. Look for freelance employees or temp employees for these jobs. That way you won’t keep paying them after the job is over. You put in a lot of work every single day to ensure that your business succeeds. Sometimes, you need to make the right decisions that help keep your business profiting.