Looking for ways to cut costs and boost profits for your small business? Here are ten tips to trim the fat from your expenses and turn your business into a lean, mean, money-making machine.
1. Go Paperless
If you haven’t already gone paperless, there’s one question: why not? The cost of a single sheet of paper may seem insignificant, but if you’re using traditional, paper-based methods for communication, billing, accounting, etc., your costs for paper, ink, stamps, and envelops will have an impact on your bottom line. Print hard copies only when absolutely necessary, and move your invoicing, accounting, and filing to computer-based systems. You’ll not only save money, but will reduce clutter, make things easier to find and organize, and save space. Mother Earth will thank you, too.
2. Lose your Landline
Nowadays, having a landline phone service is not a necessity for many businesses. While it still may be expected for a shop or other location-based businesses, for many mobile businesses, freelancers, or self-employed professionals, a separate landline is simply superfluous. Between your cell phone, VoIP, and virtual phone lines, a landline may be a redundant expense, especially if your small business is one where you’re frequently on the move or if you work from home.