When you run your own business one of the keys to being successful lies in the ability to keep down your costs as much as possible. If this is proving to be a problem for you then you might need to follow some of these simple tips for spending less of your profit.
Pay Commission Instead of a Big Salary
Staff costs are among the biggest amounts most companies pay out. What you don’t want to do here is drastically cut back on salaries and end up looking for less experienced and less talented members of staff. Instead, it is a good idea to consider offering a more modest basic
salary together with a decent level of commission. This should give you more motivated staff who feel as though they are sharing in your success. This approach works best with sales staff but can be used in any role where you can quantify the results of your team members.
The Price of the Premises
Unless a big part of your business is about presenting a great image to your clients there is no need to go for a flashy place when you are just starting out. You will want your staff to be comfortable and have enough space to work in but a cavernous office or shop can be a big
drain on your finances. It is far better to find somewhere which meets your current needs and then think about moving on to somewhere bigger when the time comes to do so.
Avoid Big Printing Costs
The money you spend on printing leaflets, letters any other documents is something else which you can reduce if you try. For a start, you will find it more economical to buy your own printer and do the printing in your premises. This means that your big costs are going to be on
paper and printer cartridges. Buying the paper in bulk is a smart idea and when it comes to the ink cartridges you could look online at a site offering good value remanufactures ones such as these cheap ink cartridges from toners4less.co.uk . This way you can print at a low cost by spending as little as possible on both your paper and your new supplies of toner.
Control the Small Costs
Even if keep a close eye on the big expenses you might still find that the small costs mount up to an uncomfortable level. This means that it also pays to control these minor looking amounts of money. Your office supplies, telephone bills and heating costs all fit into this category and are things you should be aware of. This isn’t a question of being mean or of penny pinching it is simply about not spending more than you have to.