Friday, September 28, 2012

Mohnish Speaks - Thought for the weekend!

How To Save Money For Your Business

How To Save Money For Your Business
One of the more important things that needs to be considered when you own a business is how much you are spending on that business every year. Of course, there are going to be some things that need to be purchased, regardless of what you are doing for work. These would include supplies and perhaps operating expenses, such as payroll. There are also many things that you can do to help save your business some money. Here are a few things that you can do to help cut some corners and save money.
One of the ways that many businesses save money is on their monthly expenses, such as electricity and rent. Simply turning the power off when you leave the office at night by shutting off the computers will make a difference in how much electricity you are consuming. During the day, you can also make a difference in what you are spending but changing the temperature by a few degrees. Although you would not want to sacrifice comfort to save a few dollars, making those minor changes can make a difference.
How much money are you spending for rent every month? This tends to be on of the larger operating expenses for many businesses. If you find that this expense is holding your business back from increased profits, you have a few options. Frrst of all, you can renegotiate your lease, as most landlords will be willing to have you pay less rather than having the area sit empty. You can also have some of your employees work remotely from home so that you can move into a smaller place. It may take some work on your part at first, but this can really make a difference in your overall expenses.
How much money do you spend on vehicles for company use? Some businesses spend a large portion of their budget on card, trucks and vans. If that is the case with your company, why not consider purchasing used vehicles instead of purchasing them new? Buying used step vans for sale or pickup trucks for sale that are pre-owned will save you money. Make sure that you are purchasing them from a company that you can trust, and try to buy trucks or vans that are higher-end. When you do so, you will save money right away on the purchase price without having to worry about them breaking down regularly.
One more thing that you should consider is offering some type of incentive to your employees to operate at a higher level. Most employees tend to ignore this possibility because they feel that it will end up costing them money in the long run. Just make sure that you consider how much you're giving them as an incentive and make sure that it is lower than the amount that you will be profiting. It is a great way for you to boost the productivity of those that work for your company while at the same time, keeping up morale and dropping expenses.
The author has been running his own business for many years and have found many ways to cut cost and save money. He suggest to business owners to invest in used delivery vehicles that can be found at used step van or pickup trucks for sale auctions. This is just one option available for business owners to save money.