Ways Your Business Can Save Money

Reprinted
from http://www.SmallBusinessNewz.com
|  By Abby Johnson, Staff Writer

Every business likes to save money,
but when it comes to what
should be cut to save the money; many businesses are at a loss. So, before you
make the difficult move to cut budgets and maybe even staff, think about ways
you can cut your office expenses.

As pointed out in this video,
you would be surprised at how much money can be saved just from your office
alone. Business consulting expert
Ken Gaebler of Gaebler
Ventures
said that office expenses can amount up to as much as 5 percent of
total revenues for small businesses.

He went on to say, "Every
dollar you save on office expenses is a dollar that can be used to grow the
business."

In order to cut your office costs, you should consider operating virtually
as much as possible. The Internet provides numerous ways to communicate, which
makes the idea of running a business virtually feasible.

Secondly, try
re-negotiating your lease
. Since office vacancies are currently
on the rise, landlords are willing to be flexible to keep their tenants and
keep them happy.

Thirdly, you might want to think about sharing
your office space
with another business. This could also be an
opportunity to increase your sales by working closely with a complimentary
business.

 

The
fourth way you could reduce costs is by utilizing
economic development zones
. Some communities have these areas
which offer tax deductions along with other perks. If your town does not have
these zones, contact your city officials.

Lastly, you could try finding
short-term rentals
. The advantage of short-term rental
properties is that they eliminate being locked into a long-term contract. If
you have a week-to-week or month-to-month agreement, you wouldn't have to worry
about your contract if you needed to take a drastic measure, such as
downsizing.

You can also cut costs by utilizing used furniture and using energy efficient
light bulbs. In addition, businesses can save on printing, ink cartridge,
postage, and telephone expenses by enforcing electronic communication and
storage.

Catching up on my Reading

We had a very good weekend as far as work goes. When you are busy during the week, sometimes it is hard to catch up with all the things that need to be done to maintain multiple websites. I had the chance to read three Inc. magazines over the weekend. The latest, the May issue was full of useful information and a terrific article on Tony Hsieh, the Zappos.com CEO. His philosophy is to be happy and from that you can get your employees and your customers to buy in to that happiness. Sounds good in theory, but he has actually made it work for his company. Everyone who works there does so, not because of the huge wages he pays (because he doesn’t), or the free cafeteria food (lunch meat) but because they truly buy in to his whole happiness theory. It really was a very inspiring article.

There were a few other items in this month’s Inc. magazine that I could relate to as well. “Balancing Acts” by Meg Cadoux Hirshberg is an article that hits home. But, instead of my husband being the Entrepreneur, I am and brought him in to help with the business. Her story is the story of thousands of small business owners that struggle to keep their dreams alive while paying the bills and enjoying the finer things in life. I will continue to look forward to reading her monthly updates about the impact of entrepreneurial businesses on families.

If you get a minute to visit our facebook page, we would love it if you signed up as a fan. Or you can follow me on Twitter, and while you are there you can also follow Tony Hsieh. I do.