Big Savings for Small Business

Are you a small business owner looking to maximize your margins? Are you trying to realize opportunities to save 75779888registerwithout disrupting your day-to-day processes? With a little creativity and thrifty thinking there are ways you can save without sacrificing efficiency or quality.

Smarter Spending

Used cars cost less than brand new models, and the same is true for office equipment. The next time you’re looking to pick up a printer/copier or conference table opt for a “pre-owned model,” and pay a fraction of the new sticker price. But before heading over to Amazon, eBay or a local office e-tailer, check out these tips http://www.nfib.com/article/buying-and-selling-used-office-equipment-52144/ to help guard against potential scams.

Other discount options exist in the growing number of surplus stores like Overstock.com http://www.overstock.com/, which resell outdated or previously unsold inventory from brand names and top retailers.

DIY Marketing

Of the many advantages of social media, it’s hard to ignore one very appealing fact – the price. All the major channels, Facebook, Twitter, LinkedIn, Instagram, Tumblr, etc., are free for businesses to set up and maintain a profile. Using social sites as promotional vehicles for your latest products and services also improves your search engine rankings and therefore the likelihood of attracting more prospects.

Public relations opportunities are also monetarily attractive options. In addition to drafting and distributing your own press releases in conjunction with events or promotions, consider making senior managers and other specialists within your organization available for interviews and speaking opportunities. The benefits extend beyond the free press coverage, as your business will be seen as a go-to resource flush with industry experts.

Go green to save some green

According to PC World http://www.pcworld.com/article/257306/how_to_save_money_on_printing_costs.html, each sheet of printed paper costs about 10 cents, and that figure jumps significantly with respect to color. When you multiply that by the number of pages printed by each employee over the course of a year the expense grows exponentially.

Opt to “go green” and digitize whenever possible. In lieu of mailing or faxing inventories and purchase orders, send them via email. The same applies to inter-office communications, why print when scanning and sending does the trick. If you’re a brick and mortar business, try offering your customers the option of an e-receipt instead of a printed version. In addition to saving on ink, toner, paper and machine maintenance, your business will also benefit from the goodwill generated by your eco-friendly initiatives.

An even simpler, low-tech opportunity can be found by examining your overhead…lights that is. Replacing your incandescent bulbs with more energy efficient LEDs or compact fluorescents can result in a savings of up to tens of thousands annually. http://www.cnbc.com/id/100863041

What tips or tricks have you used to save your business money?

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