In an increasingly competitive market where every business is attempting to make profits, cutting on office expenses becomes mandatory. As business owner, you are always trying to look for different ways to increase profits. However, one thing that has never crossed your mind is cutting on office expenses; which is one way to boost returns. Even if your business is doing well, out-of-control costs will definitely eat into your profits.
Cutting on expenses however does not mean that you have to sacrifice some services in order to run an efficient and profitable business. It’s all about being smart. Remember that when you start reducing your expenses, you may be able to purchase new modern equipment that is fast, reliable, and efficient. You will also be able increase your employee’s salaries and bonuses and also get new opportunities to advertise and obtain more exposure. Let’s take a look at ways you could cut back on out-of-control office expenses.
- Save on Utilities (Electricity, Water, Internet, and Telephone)
Utilities constitute a large portion of business expenses. As a business owner, it’s your responsibility to ensure that everyone makes an effort in reducing water, electricity, telephone, internet and even gas bills.
Electricity is one of the biggest culprits when it comes to wasteful spending. Most offices leave electronic devices and equipment running overnight. In addition, lights are left on even during the day when there is sufficient amount of daylight. It’s your duty to reduce unnecessary power expenditures by turning off unused lights and unplugging equipment when not in use. It’s important to note that even when turned off, electronic equipment such as computers still consume some power. Ensure that they are unplugged when not in use.
As for the telephone expenses, now may be the best time to ditch the phone company. With Voice-Over IP services now readily available and reliable, you can save money on communication by using low-priced operators such as Google Voice, SIP Gate, and Skype.
Use the same strategies in cutting down on other utility bills such as internet water, and gas.
- Save on Printing
Printing can be costly especially for those who print in high volumes. Many businesses often complain of the high cost of ink or toners. While printing can be one of the most costly office expenses, there are various ways in which you can reduce its levels.
When it comes to printers, Ink-jet types are more affordable than laser-jet choices. However, their cost per print is much higher, which is why it’s best to purchase a larger one that can cater to the needs of the entire office instead of having several smaller printers for every office.
As for ink, third-party ink may help you save more money as they are inexpensive and tend to yield more prints than new, branded ones. Another way to cut on your printing bills is by producing two sheets on each page and using your printer’s economy mode. In addition, be sure to take proper care of your ink and toner through proper maintenance. This is because old ink cartridges may clog the nozzles over time, thereby limiting your capabilities.
- Get Discounts on Office Supplies and Be Strict on their Usage
One of the best ways to cut on office supplies is by looking for a partner who has low-price guarantees and offers the best shipping deals. In addition, place strict measures in place for proper usage of these supplies as a way to minimize costs. Be sure to purchase tools and equipment from manufacturers who offer warranties.
- Cut on Travel Costs
With the introduction of various technology-based solutions such as video conferencing, it has now become much easier for businesses to save on travel costs such as flights, hotels, meals, and other related expenses.
- Hire Temporary Staff
During these hard economic times, it’s hard to keep everyone on a payroll. By utilising temporary staff to perform basic tasks such as answering phones, you avoid the overhead costs associated with employing permanent employees.