Sometimes we do not realise that with small efforts we could save our company a considerable amount of money. Keep in mind the following tips in order to save and invest that money in assets that will be valuable to your company.
1.- Go green!
Remember always to turn off equipment when not in use, buy printer ink in bulk or use recycled cartridges, and print only when necessary and on both sides of the paper. If you reduce energy use you will be reducing your costs too.
2.- Hire students
You will reduce your payroll and increase productivity by hiring students with the help of your local university or looking for them in student and intern sites. They will get experience and cash, and you will get the job done for less money.
3.- Use Social Media
Use tools like LinkedIn, Twitter and Facebook to spread the word about your business and its services. Social Media is a useful way to engage with people and promote your brand for free.
Word of mouth is the best and least expensive form of advertising. You can ask your clients to make referrals of your services and include them on your website.
5.- Use the Internet as much as possible
Remember that the Internet gives you the opportunity to make calls and have conferences without paying. Use tools like Skype or Microsoft Office Live meeting to negotiate with clients for free.
6.- Look for the right insurance
Raising the excess on your insurance usually lowers your premiums. Look for associations that offer competitive group insurance so even if you have to pay the excess it will be less than the amount you save.
7.- Utilize budgeting apps
Consider the use of free apps such as LearnVest and Expensify in order to keep your expenses clearly outlined.