There’s one main answer to the oft-asked question “how can I help my business survive in an economic crisis?” Cut costs. You heard me right! Your business can have a fighting chance even in the worst of economies, especially if you cut all unnecessary costs.
Economic downturns are bad, but they aren’t the end! Especially now that technology is on our side. So here are some ways to cut your small business’ costs.
Telecommute – even closing up shop a few days a month will help lower the cost of your utilities.
Cut down your paper use – not just in the printer, but also envelopes, paper towels and any other paper based supply.
- Keep track of your supplies – a note pad here, a pen there…it all adds up.
- Keep your supplies in line – remind everyone that supplies are money.
- Buy refurbished equipment and furniture – Fax machines, new desktops, chairs and just about anything else for the office can be bought refurbished.
- Choose to go virtual – having a complete virtual office eliminates nearly 90% of your overhead while still allowing you to receive mail and phone calls.
- Employees can work from home offices and save their time and money by cutting the commute!
- Switching from a traditional office to a virtual one could make all the difference to your small business.
- Cutting costs is imperative, and this move might be the biggest way to trim your expenses.