As a business owner, implementing cost reduction strategies without sacrificing quality is probably at the forefront of your mind. However, when you’ve got so many other things that you need to do in order to run your company, thinking about your budget can often get left on the sidelines.
In order to help you get the most out of the money you invest into the day-to-day running of your business, we’ve compiled this helpful guide of our top 10 ways you can save on your outgoings.
1. Lights off
One easy way you can start making cuts in your energy bills is by simply being more mindful of when you’re using your electricity and heating. Remind colleagues to turn off lights when they’re not using rooms, particularly in corridors and meeting rooms where they might be forgotten about. You can also install LED lights, which can save you up to 30% on your electricity bill.
We’re not suggesting you turn the heating off altogether, but it is a good idea to turn it down a little. Even reducing the temperature by a degree or two can help you to reduce your costs. Seven out of ten companies leave either the heating or air-conditioning on overnight; however, if used efficiently, savings of up to 20% can be achieved on both of these.
Employing contracted staff for jobs in catering, cleaning and utilities can be an expensive ordeal. The interview process costs money, as does the training process, and you might not end up with the most suitable contractor for the job. Facilities management consultants can work with you to consider which parts of your business you could outsource to agency staff, giving you more flexibility and saving you money.
4. Green choices
Unless it’s absolutely necessary to print one-sided, always print double-sided in order to save on paper costs, and ensure there’s a recycling box next to the printer for any mistakes. Along a similar vein, you should always refill your printer cartridges rather than buying new ones, as it’s much cheaper.
5. Switch off
Where possible, turn appliances off rather than leaving them on standby. If you’ve got an hour for lunch, then there’s no sense in leaving your computer on to waste energy. Similarly, unplug chargers and appliances when they’re not in use.
6. Car sharing
If you accept travel expenses, then encouraging car sharing is a great idea. It means that although two or three employees might be travelling to a meeting by car, the miles used will only be claimed for once.
7. Switch supplier
If you’ve been with your current energy supplier for a while, then chances are there’s a better deal to be found elsewhere. Don’t be afraid to look around when your current contract comes to an end, as you could end up saving up to 13.5% on your bills.
Hold meetings in-house, where possible, to avoid costly breakfast meetings. Similarly, when they’re held in-house with employees, ensure they’re quick and effective. Otherwise, your employees are going to be wasting time that could be spent being productive.
9. Open source software
Looking online for open source software can save you big money. You can find everything from accounting to document creation programs online, and it will mean you avoid shelling out on costly software.
10. Consulting service
If you feel like there are ways you could be saving money, but aren’t quite sure what they are, then you need to bring in a facilities management consultant. They will be able to tell you which parts of your business need streamlining and where money can be saved; they will then implement those changes and track their success.
To find out more about how cost reduction strategies can save your company money, get in touch with the experts at Blueshark Consulting. The team are able to look at the non-core activities of your business and offer you effective solutions. To learn more, speak to the team today.
Blueshark Consulting delivers unique solutions to the obstacles facing businesses every day. The innovative facilities management solutions we provide ensure that our clients are on track and kept one step ahead of their competitors. Thanks to the diverse experience of our team, we fulfil various key roles for our clients according to their needs, from procurement specialist to management consultant. Our level of expertise and knowledge far outweighs any of our competitors and we have the track record to back it up.