NFIB

The Secret Life of a Tightwad: Tips for Pinching Pennies
04/ 01/ 2004

Our April/May cover story focused on how to be more frugal in your business. Here are a few more ideas to implement today:

Four Ways to Save money in your business

1. Only buy sale items.
Don't worry about brand name copier paper or fancy office equipment. Hit the sale isle when you're shopping for your business. Because who really cares about the type of pens you use?

2. Pay your bills early.
Chris Zane, of Zane's Cycles, pays nearly all of his salary just by paying bills early. If you have major bills in your business, this method might be one to consider. For instance, Zane borrows on his credit line in order to pay certain vendors early and receive significant discounts.

3. Put locks on thermostats.
Decide on a temperature everyone can live with and stick to it. Don't allow employees to push the thermostat up and down during the day.

4. Ask for discounts from all vendors.
You don't have to be a million-dollar client to ask your vendors for discounts. Sean Murhpy of Canvas Systems asks for better deals all the time. If you pay on time and are easy to work with, companies want to keep your business.

Small Business Sound Off
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