It is a well-known fact that the more you spend the less you will profit when running a business and this is why so many small to medium businesses are learning how to cut expenses. Of course, logic dictates that there are some areas you simply cannot scrimp on but other areas which can benefit from a significantly scaled back budget. From front-end office expenses to back-end operations, there are probably 101 things you can do to reduce your monthly expenditures. Here’s a sampling of a few business expenses you can reduce to increase your bottom line.
You would think that with all the advances in mobile and touchscreen technology that business owners would have gotten it by now. Paper is an expense you just don’t need at least 90% of the time and one which just keeps on getting budgeted for. Not only can you cut the use of paper in your office by three-quarters of your allotted budget, but you can send delivery men out with handheld “Proof of Delivery” scanners that require absolutely no paper. Signatures are held in a digital file and can be accessed as needed from the mainframe. Literally thousands of dollars can be saved each year by going paperless.
DIY Fleet Maintenance
Here’s one many businesses don’t think of and that is DIY maintenance on their fleet of cars and/or trucks. If you have mobile sales reps or customer service consultants, chances are they are issued a vehicle to use when traveling to and from appointments with clients. While some repairs and routine preventative maintenance must be done by a certified mechanic, other things can help to prolong the life of your vehicles and can be completed by members of your staff.
For example, those automobiles going out in the winter are subject to rust on the undercarriage due to all that salt on the road to prevent ice. Before the onset of winter you can use DIY U-Pol Raptor truck bed liner kit which can also be used to coat the chassis and/or frame to prevent damage from road salt. This significantly helps to prolong the life of your vehicles, thus reducing outlay of capital for new cars and trucks.
Focus on Energy Efficiency
Most people aren’t aware of the fact that even when turned off, appliances and electronics that are plugged in still draw a small amount of current. It may be a miniscule amount but over time and with dozens of machines drawing that small amount of current each night, the amount of money paid on electric does add up. From unplugging everything but necessary computers and lights when leaving your office to buying energy efficient LED or CFL bulbs, there are steps you can take to increase energy efficiency and save a great deal of money each and every year.
In other words, spend less and you will make more. You are in business to turn a profit so don’t needlessly throw money out the window. Whether cutting back on the amount of paper you buy or finding ways to do routine maintenance on your fleet of vehicles, there are steps you can take to spend less and earn more. That’s your ticket, in a nutshell, to increasing your bottom line.