There are several ways that businesses can save money to better control expenses. Here is a list of seven ways we have found that seems to work for other businesses.
- Small or remote office? Share office space with another company. Two or more small professional services firms can work out a deal and share an office and pay rent based off of square footage. This will allow the companies to share a receptionist, break room, copiers, and conference room(s).
- Look into hosted solutions such as Office 365* or Google Docs*. Not only does using hosted solutions save money, it also reduces the cost of your initial infrastructure investment as well as staffing. You can easily add/remove server resources needed plus you no longer have to worry about licensing since you only pay for what you use.
- Look into hosted solutions for CRM. Salesforce* might be the dominant player but there are several other solutions that start at $10/month per user. PC Magazine* recently had an article covering Salesforce alternatives.
- Outsource some operations that you might not use full time such as Human Resources, IT, office cleaning, and accounting. Outsourcing reduces the workload on your staff and allows smaller businesses to have resources as needed. In addition your contractors will more likely better versed in security and compliance related matters.
- Remote employee policy. Using remote employees can dramatically reduce operating costs. Less office space is required and solutions such as Microsoft’s Office365* (which runs on Windows, Macs, Android, and iOS devices) allow for users to still communicate constantly. When periodic in-person meetings are needed, the team can use rented conference rooms.
- Paying your bills early. Some vendors offer better terms for rapid payment.
- Joining a small business association will allow your company to buy insurance, supplies, and equipment at group terms.
* Scherzer International has not been compensated for any of these placements. All rights belong to their respective owners.