NFIB

Sweating the Small Stuff Can Save You Money
03/ 04/ 2003

by Vicki Gerson

Most likely you know that reducing expenses is one of the easiest ways to save your business a little money. Yet most business owners spend very little time each month deciding how they can reduce business expenses.

Reducing operating costs a few percentage points is not as hard as you think. Here are some money-saving ideas you may want to consider, keeping in mind that the small stuff really does add up.

Shop by mail order or online.

It is frequently more economical and convenient to shop by mail order or online. Many times you will find a special or introductory offer on a product you need. Many Internet businesses offer products that are less expensive than what you will find in the retail stores.

Always shop and compare.

Before making a large or small purchase, shop and compare. Don't depend upon one vendor or supplier. Remember, however, the lowest bid isn't always the best. Such factors as service, quality and convenience have to be factored in before you make a final decision.

Use toll-free numbers whenever possible.

Always ask the companies you do business with if they have a toll-free number, and make sure you give this number to your employees. It doesn't make sense to pay for a long distance call when you can call for free.

Use email and faxes.

Postage can add up. Use email and faxes whenever you can, and you should start to see a reduction in your postage expenses.

Shop for the best and cheapest phone service.

Almost anywhere you go, someone wants to get your business enrolled in a new telephone service. Services and rates truly vary, and by doing your homework you can receive big savings. Also check out cable and DSL lines for your Internet service. It should be less expensive than using a regular phone service.

Monitor office supplies.

Do your office supplies seem to be disappearing? Your employees might not see anything wrong with "borrowing" notepads, paperclips, scotch tape, envelopes and more. Make sure your employees know none of these supplies are to be removed from the office.

Buy used or reconditioned equipment.

It pays to check out auctions, going-out-of business sales, closeouts and classified ads for the equipment you need. You will get great savings, but there are usually no warranties. However, there are companies that sell reconditioned equipment and provide limited guarantees (parts and labor). Be sure to check out these businesses as well for some of your needs.

Avoid overnight deliveries.

Overnight deliveries will be expensive no matter what, but keep in mind that the rate is less if the delivery occurs in the afternoon versus the morning. Also be sure to check the prices of various carriers for the best rate. And don't forget about local delivery services that cover your surrounding area.

Cut heating and AC costs.

Keep an eye on heating and air conditioning costs by lowering the heat at night in the winter and raising the temperature in the summer. Programmable thermostats are an excellent investment.

Lowering your expenses is easier than you think. Just start sweating the small stuff and start saving your business some money.

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