Running a business is difficult as small expenses tend to add up really fast. While it’s true that in order to make money you have to spend some, it doesn’t mean that you start wasting it.
If you have decided to cut costs and add to your bottom line, then you have come to the right place. With a few tips, vigilance and dedication, you can avoid wastage of money and use your resources to invest in new avenues.
Here are five ways to save money by reducing wastage in the office.
- Save Electricity
- Reduce Office Supplies
- Reduce Paper Usage
- Dress According to the Weather
- Consider Telecommuting
Electricity is not free. Many companies leave the lights and computers on even long after employees have gone home. A few extra minutes might not make much of a difference but continuous use of energy can start to add up really fast. You can save up a lot by ensuring that everything is turned off when the last person leaves the office.
Reduce Office Supplies
Office supplies are also a great expense incurred by many offices. They can cost your company quite a lot over a certain period of time. This problem has an easy solution – bulk buying. Always ensure that you purchase your office supplies from discounted stores in bulk rather than expensive stores. Purchase cheap but good quality pens, pencils, open-end envelopes, etc., and you will be able to cut down your expenses.
Reduce Paper Usage
While many companies have embraced digitization, there are still many businesses out there that print out all important documents and memos. They go through multiple reams of paper on a weekly basis. Not only is this disgraceful for the environment, but it can also result in a lot of unnecessary wastage. Emails and instant messaging should be adopted to ensure a quick, efficient and inexpensive way to share and communicate information. By cutting down on the usage of paper, you will notice an overall reduction in the expenses of your business.
Dress According to the Weather
When changing the temperature of your thermostat, every degree above or below can have an impact on the HVAC bill. Instead of turning up the temperature during winters, you can ask your employees to wear sweaters or light jackets. Similarly, you can encourage them to wear light clothes during summers rather than lowering the temperature of the thermostat significantly.
Possibly the best way to bring down your office expenditure is to give up the office itself. You can allow your employees to work from the comfort of their own homes. This will also motivate them and boost their morale significantly. In an office, employees have to compromise and adjust with one another, but working from their own homes will help them choose their own equipment, suppliers and even power. This will also help you cut back on other expenses significantly.
These hacks teach you how cutting back on minor expenses can help save up on big costs. You can’t magically save up money in a day. It takes a while to save money and cut down expenses. However, making small changes, can eventually lead to big savings. So make use of the tips mentioned above and start cutting down costs today!