You might think that saving small amounts of money in your business model won’t make a huge amount of difference to your profit model. But you’d be surprised because all those little changes to your model will add up and eventually you’ll find that by making a lot of small changes, you’ve saved a fortune. What type of changes are we talking about here?
Check For The Cheapest
Do you know what one of the biggest expenses for an office business is? We’ll give you a hint, you probably have a few of the items on your desk right now. That’s right, it’s stationery like pens, pencils and goodness knows what else you might need. How could that be? After all, a pen doesn’t exactly break the bank. Ah, but when you run the office, you’ll be buying hundreds, and that means bulk buys. The problem is that business owners don’t typically bother to check around for the cheapest deal. This leaves them to get ripped off with an expensive purchase that wasn’t worth the money at all.
Monitor Your Bills
Do you know where your bills are coming from? There are a lot of different areas of your business, and most owners are completely unaware of the cost of each section. You probably have no idea how much printing costs your company each month but you should. It could be a lot more than you’re comfortable with. A print audit is the answer to this problem because that way you can find out exactly how much you’re spending and hopefully shave down those costs. You’ll be able to make changes, and potentially you could just completely outsource an area of your business like this. That way, you’ll definitely be saving money.
Little Practical Alterations
Take a look above your head right now. You’ll probably see a luminescent tube. You might even see a few of them, all over the roof of your office if you’re running a large company. Just how much is that costing you? A lot more than you’d like that’s for sure, particularly if you’re not using LED bulbs. LED bulbs can save you thousands over your company lifetime, and it’s such an easy change to make in your business model. You can get them replaced and make sure that your business is a little greener and a little cheaper.
The Right Tech
If we’re thinking about saving money on your business bills, we have to think about tech in your office. A lot of companies are running tech that’s so old they never switch it off, even at the end of the day to save the massive time it takes to switch it back on the next morning. While that time is a waste, the wastage of leaving them on all night is even worse. Instead, these companies should be upgrading their tech. In the short term, this will cost money, but if you look at the bigger picture, it could drive costs right down because of cheaper energy bills.
You see, there are plenty of small ways for businesses to save a little that will all add up to a greater reduction in spending and a more efficient business model.