As an owner of a medium sized business you’ll know that small savings in a few areas can make the difference between a profitable year and one you’d rather not repeat. There are many areas in which businesses can save, many you may not have considered before. Here are four that could make you a much healthier profit this year:
Electronic Invoices may seem like they’d be worth the switch if you’re still using paper, however, added up the costs mount. Postage, paper, printers and ink costs businesses a huge amount each year. Being able to cut down on those expenses could mean big savings. Start getting staff to communicate via email as opposed to phone too, it’s just as quick normally and once they’re used to checking their emails regularly and becoming more online based they’ll see that invoicing clients in the same way is much faster and easier than the old way.
Social media is one area to save, but can also bring in a lot of business too. If used correctly your business can save on marketing. Using social media is one of the simplest ways to recommend your business to friends and family. If you provide small incentives such as discount or competitions you’ll build your base and be able to share your company quickly. You can also utilise this to communicate with your customers and resolve disagreements/issues quickly.
Repairing instead of replacing can save hundreds, if not thousands a year. A spokesperson from http://helpingu2save.co.uk/ said: “ If for example all your staff are given company phones, a new model can cost over £500 whereas a replacement screen can cost a fraction of the price. At helping you to save we offer the latest replacement screens from under £100. Furthermore we offer all the tools you need to fix the device.” He then went on to show us how simple it was! And it need not be just employees tech, you can apply the same principles to your office too. Knowing a great repair person and getting on their good side can be invaluable!
Tablets may seem like a big cost outright, but your employees will feel valued and in return you’ll have employees who can work while they travel to meetings, use their tablets when meeting prospective business and make your company seem forward thinking too.