Want to Cut Costs Without Cutting Quality? Here’s How.
Cutting the costs of business without affecting quality seems like a pipe dream to many. It doesn’t matter whether your business is raking in crazy amounts of cash or struggling to make a profit. Every business owner wants to find a way to reduce the amount of money they’re spending while keeping up strong quality.
This problem takes on extra resonance when the company in question is in some sort of financial trouble. After all, now would seem like the worst time to do things that might affect the quality of your output, right?
Here are some of the simple steps you can take to start cutting costs today. None of them will affect your work quality if you do them right.
Migrate to the cloud.
The cloud presents so many money-saving opportunities. The biggest one is in storage. Buying and maintaining local servers costs thousands of dollars every year. With cloud services, each of your employees can have gigabytes worth of storage for free.
Consider free alternatives to software.
Sure, most of the premium software is a breeze to use. But that’s because they’ve been a standard for so long. Most people are familiar with things like Microsoft Word and Excel by the time they’ve left school. Companies take advantage of situations like this and charge large fees for business licenses to use these products. But there is plenty of freeware that can do the job just as well, if you take the time to get accustomed to them. The OpenOffice suite is a great place to start.
Reduce energy costs.
This is the one that’s most overlooked by business owners! Sure, the amounts you can save may not sound like a lot, at first. But when you combine energy-reducing methods with the other suggestions found in this article? All those savings will add up. Plus, you’ll be doing the environment a favor.
Find out where you’re being overcharged.
Most companies outsource some essential tasks. But there are plenty of outsourcing companies that charge their clients way too much. You should always think about finding other companies who will do quality work for less. Whatever the area is, you can probably find someone better. Let’s look, for example, at IT. Services like Continuous Networks are examples of IT services that don’t charge you for every little thing they do.
Move to a cheaper location.
One of the more drastic moves is to move your business to another location. If you’re working in a big-league city, then that in itself can be doing good things for your business. But it can hardly be very kind on your wallet! The rent in big business cities like New York City and London are pretty staggering. If your lease is ending soon, you might want to consider getting an office somewhere a little cheaper.
Don’t need it? Get rid of it.
Is there anything in your office you can sell? Businesses are buying crazy new technologies all the time, convinced that they’re going to help them to do this or that. This results in many offices having more technology than it actually needs. Consider selling off some equipment you don’t use.
Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.