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    1. wholesaleinsight's Avatar
      wholesaleinsight is offline

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      #1

      Trim the Fat from Your Business Budget

      Cash is king when it comes to business. If you have an unlimited supply of it, you will rule the day, but if you only have two pennies to rub together, you’ll toss in your sleep. Cash helps people reach for their their dreams.

      If you think about it, there are only two ways to bring in more money: Sell more or cut back on spending.

      There are hundreds of articles on this forum that will teach you how to sell more, because advertising, marketing, networking, and so on are spontaneous and exciting. But buying less? Who wants to do that?

      As the age-old saying goes, sometimes you have to do what you don't want to do. Here, I give you some insightful and pretty easy ways to lower your expenses and increase the amount of cash flow along the way.

      Reorganize Your Office Space
      Your monthly rent and payroll are the two highest costs for small businesses. If you pay for office space and only work in it, say, 10 hours a day, 6 days a week, you are wasting a lot of money. Here are some options to think about:

      Move to a Cheaper Place
      There are hundreds of commercial places in several cities nowadays. Prices may be more competitive, and you should take advantage of that fact.

      Renegotiate
      Talk to your landlord to see if you can write up a new, cost-saving deal. If you’re approved, fantastic, and if not, then… see above.

      Sublease
      Rent out your extra space, or the time when you’re not there, to an enthusiastic individual. Some firms where offices are plentiful offer space and secretary time to other professionals. You can turn empty space into a profitable asset.

      Pay for an Executive Suite
      These places are decked out with the latest office equipment that you can rent by the day, week, month, or year. Most of the time, you only pay for the time you’re there. This is a deal for a lot of people. Some smaller businesses have really cheap places or they work entirely from home, and renting executive space is necessary to impress your biggest clients.

      Forget About Office Space
      One smart guy I know realized that he didn’t even need office space to work. He found a better way. He decided to close up shop and save $2,500 a month in rent, with all his employees on the same routine, only working from their home offices. They still text, call, and email each other. They teleconference when they have to and eat at a restaurant once a week.

      Go Open Source
      Constantly updating every computer with the latest software suites is expensive, but thanks to the the open source nature of software out there, you now have the option of reducing any further costs. For example, instead of using Word, use OpenOffice.

      Renegotiate Your Deals
      Like the entire world, your suppliers need business to stay operational. Instead of losing a dedicated customer, they may have some room to offer deals on certain things or include an upgraded version of whatever they’re selling to keep you interested. You do the same thing for your own customers, right? I thought so.

      Shop Around
      There are thousands of businesses out there that want to work with you. If you compare wholesalers, or your phone or insurance rates, you’ll probably find some hidden deals that beat what you have right now.

      Go Green
      Because green is trendy, and of course the right thing to do, you shouldn’t lose sight of how much you can save in the long run. Run your used paper through a shredder to fill your outgoing packages. Buy timers for your lights. Never print; use e-mail instead. If you have to print, print on both sides of the paper.

      Go Easy on Traveling
      Videoconference instead.

      Buy Only Used Office Equipment
      Shop around at the stores that specialize in used office equipment for deals that can’t be beat. Craigslist is a starting point, as well as a gold mine for used business equipment.

      It’s pretty easy to save money if you stick to your guns.
      Want To Be An eBay Powerseller?
      This is the Service You Need.

    2. Thank you for this post:

      tommygodxx (07 Nov 2010)

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