Budget Friendly Business Tips

Running a successful business is one of the hardest things you’ll ever have to do, and when it comes to post-pandemic, things get even harder. 

Now that we are all stuck in a tight financial situation, the important thing for us to do is learn how to scrimp and save wherever possible. There are many ways to make a difference to your working processes to save money, and today we want to discuss some of those things with you. 

Stop buying paper 

One of the biggest hidden costs that offices face is paper. Paper used to be the staple of every office and every important piece of documentation would be printed out and filed. But these days with the rise of the digital age, this is no longer necessary. It is now the time to get out of the habit of using paper as much as you can, and instead save the money and store things online. You’ll be surprised how much money you can save every year by not buying as many office supplies. 

Pixabay

Work from home 

Since the start of the pandemic, many companies have had to move quickly  from typical office working to working from home. This has been a big adjustment for a lot of businesses, but six months on it has actually proved successful for many. If you have been working from home for the course of the pandemic, now is the time to consider whether you need to go back to your office at all. Renting an office space is incredibly expensive. As well as the rent itself, there are utilities to pay for, amenities, coffee and tea, bathroom and cleaning supplies and equipment too. If you choose to let your employees work at home, you don’t have to pay for any of these things. The difference it will make to your revenue will be incredible. 

Outsource services 

One of the other big expenses of running a business is hiring staff. When hiring a member of staff to work for you in house, there are a lot of things to consider. As well as a good wage, you also need to think of health insurance, pension fund, and any perks and benefits. However, if you choose to outsource a service such as managed it service providers – you’ll save all of those extra costs. As well as not paying a full wage, you’ll avoid all of the niggling costs involved in hiring an employee- and when the job becomes obsolete you won’t need to make anyone redundant or keep on dead weight. You can simply end your contract with your outsourced agency. 

Use free tools 

Don’t waste your money paying for lots of applications and software that you can find elsewhere for free. For example, although outlook is the usual email and office provider – it can be costly, and Google offers all of the same things for free. Switching to Google drive will allow you to use docs, sheets, forms, and slides for free with 15GB of storage for free. Instead of using expensive marketing scheduling tools, instead use Buffer for free which can hold up to 8 accounts at a time. Research and look for free options because it will make a big difference to your margins. 

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