Five Things Your Company Should Spend Less On

Brooke Chaplan

February 21, 2014


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You've cut discretionary spending. You've reduced your overhead. You've even gotten rid of the free coffee in the break room. But what if you're still spending too much for your business to survive? How can you cut costs without affecting productivity and efficiency? Here are five things that deserve a date with the chopping block.

Paper Products

There's a reason most modern offices are paperless. It's the 21st century, so physical tree remains should only be used for things like sensitive documents, and hard copies of important information. Switch to digital interfaces and technological tools to save hundreds on paper, printers, ink cartridges, files, folders, cabinets, et cetera. Little savings will really add up.

Leased Equipment

When's the last time you sent a fax? Do you really need that forklift in the middle of winter? Stop paying for the privilege of storing equipment like a museum. If you haven't used it in the last month, get rid of it and its monthly bill by shipping it back to the manufacturer.

Travel Expenses

If your work routinely takes you to new places, you're probably spending a fortune on things you don't really need. For example, taxis aren't necessary when there are buses available for a fraction of the cost, and five-star hotels serve no purpose but to make you feel professional and important while you're on the job. An inexpensive B&B will protect you from the rain just as much as the Hilton.

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Unused Space

If you're paying for an entire floor but just a few offices will do, consider taking your business to a smaller building where the rent might not be as steep. Let people work from home if they're able, and encourage them to answer their own phones and take their own messages so you won't need to pay or house a receptionist.

Marketing

In the age of social media and viral ads, there's no reason why you should be spending big bucks on marketing tools when Twitter accounts are free. Learn how to harness the power of the Internet to spread word-of-mouth, and free yourself from billboards and paid ads. Know all the major social networks. Download analytics software. Familiarize yourself with SEO.

These are just a few areas where you can cut corners in the modern office. If you're still having trouble squeezing under budget, consider taking out a loan or applying for a business cash advance from a place like powerfinancetexas.com. This will save you time and hassle otherwise spent at the bank.