A new year, a new beginning, and new ways to running a business more cost effectively is without a doubt going to be on the top of the list for many SMEs. In 2015. To give you a head start, I thought I’d start with sharing 5 money saving tips for your business.
- Laptop computers v.s. desktop computers: many businesses are usually running a computer all day long, but did you know that laptops consume up to 90 percent less energy compared to desktop computers? So Tip #1 Use a Laptop!
- Barter where you can! Have you ever tried swapping one thing for something else? Have a look at your suppliers and see who needs your services and products that you can barter with.
- Be smart with your business purchases. So often I see many small businesses going out to buy things they need on the fly – this might range from stationary to furniture! Be smart with your business purchases by planning ahead, observe what you need and how long it takes you to use up your supplies. Once you have identified that, when it is almost time you’ll be running out on certain supplies or needing something, you can keep an eye out for specials.
- Buy in bulk… when they are on special. We’ve all seen stores offering crazy discounts, so when they do for something you need on a regular basis (such as toilet paper, paper, ink, and etc.) for a super cheap price stock up in bulk.
- Keep track of your expenditure! This one is a no brainer, but make sure you have a systems, and processes in place to track your spending. Of course, if you haven’t already done so, Maestrano offers several great tools for doing so! They include: Xero, QuickBooks and Front Accounting
So here’s 5 tips to get you started in the New Year! May 2015 be a year of effective spending!