Starting a business is always going to come with a lot of financial strings. Once you’re making the jump from front room to the office, you need to run a tight ship. You need to look professional to customers, while still staying in profit. Often times in the hopes of making a big splash companies blow through their budget, then end up giving constant deep discounts to get customers in, or out pricing themselves to make up some of the deficit.
The trick is to find the points at which you perform both efficiently and effectively. Survival is at the forefront of most business owners minds, followed by growth. If you master the delicate art of trimming expenses that don’t have a substantial impact, coupled with keeping proper office procedures in place, then you’re much more likely to see a bit more thickness in that profit margin bar.
If you aren’t quite sure where the potential money savings lies, then take a look at these suggestions and see what you can implement in your business.
Let’s start with the people in the office. You need to make sure that they adhere to your policies and procedures. As well as ensuring that your hiring and firing is as neat as possible. Of course, you want to make sure that your employees are paid a good enough wage, while not spending too much above the odds. If you know that you are going to struggle to get the staff with just the amount of money you could pay them, then think about what you can do in other ways. Like having flexible working hours, or training, and other fun staff initiatives. Be in tune with the needs of your staff and make sure that they understand the needs of the company. If you feel like there are areas that you need extra support, you can call in experts like http://www.xeretec.co.uk/what-we-do/managed-print-services/support-services/print-assessment to audit and adjust.
Your office will inevitably be the space that both clients and staff are working on a day to day basis. Which is great, but don’t fall into the trap of paying out a lot on a fancy office with glass doors just to impress people. Your work should be able to speak for itself. When kitting the office space out, you can pick up some second-hand desks, or look for other offices that are closing and snap up some bargains. Buy things like paper, inks, coffee and other office essentials in bulk – you’ll save loads by doing that.
All hail the internet! You can, of course, run some beautiful campaigns and spend a lot of cash doing so. Or you can use the power of social media. We all know that word of mouth is the most effective and of course cheapest form of marketing – so harness that power. Head out to free or low priced networking events, make your social media pop by curating great feeds, put the leg work in.