We know that lots of businesses are always looking for ways to reduce their business costs, especially during uncertain times like this. While there are new ways and tools that enable you to reduce your business costs, there are also things that you can do differently to reduce your business costs.
Below we have shared some ideas of what you can do different to reduce your business costs;
Review Supplier Costs
Look at the costs from your suppliers and see if these can be reduced. Speak to your suppliers about the products and services that they offer. See if they could offer a reduced product or service that still satisfies your needs. You may be able to barter with them to offer a reduced cost if you pay early or sign to stay for 3 years. Think about what you can do to reduce the costs with your suppliers. Take the time to tell them your situation too and they may have ways that they can help you.
Reduce Labour Costs
If you have peak and off-peak seasons then you may want to consider temporary staff members at a higher salary cost, instead of permanent staff members at a lower salary cost. If you have short sharp peaks you can bring in your temporary staff at the slightly higher rate of pay. Then, as business slows down you only have the skeleton staff members working which will cost you less as a business. Think about outsourcing parts of the business too. If your marketing, finance or sales needs are small, for example, then why not outsource to a professional instead of having someone inhouse?
Reduce Travel Costs
So many more businesses are reaping the benefits of virtual meetings via Zoom and Microsoft Teams. These online meetings not only reduce travel costs, but they save time too. You and your employees don’t need to travel across the country to have 1 meeting in a day. Instead, you and your employees can have multiple meetings in one day, all from the comfort of your office or home. You’ll be amazed at how much time and money you can save by not driving to face-to-face meetings. Plus, it’ll help reduce your carbon footprint too.
Reduce Operation Costs
There will be utility bills that you need to pay for your business. This will include internet costs, phone bills, electricity bills, gas bills and more. While these costs are essential for your business, it doesn’t mean that they can’t be reduced. Here at Dancol we can help you find new utility suppliers to reduce your business costs. We can give your utility bills a free review, see what you can save and complete the swap over for you. You’ll be saving money on those business costs before you know it!
Call us now if you would like to do things different to reduce your business costs.