If you run a small business you know that money can get very tight at times – and you definitely don’t want the money that you spend to start dwarfing the amount of money that is returned to you. Unfortunately, a lot of the extra costs come from completely unnecessary purchases. Here are the top things that you are spending too much money on for your small business.
- Cut back on the amount of paper you use. You don’t need to create endless lists or print 60 pages at one time to lay out various tasks. Try creating one list and simply amending it.
- Don’t print as many documents. There is no reason to stop printing necessary documents. However, you should start planning out what you print very carefully before you hit the button. Cut out all the unnecessary text and ads – you’ll be amazed at how many pages that will get rid of! For many small business owners, the cost of ink can start to rival gas prices.
- Stop letting people go home with the pens! Okay, so the pens probably don’t account for very much of your business loss, but they illustrate the point very well. Take a look at all of the small purchases that you make for your business on a frequent basis – if you look at all of them they really start adding up cost-wise. For instance, instead of buying ten packs of pens for the year consider purchasing two and designating each person a pen to use until it runs out of ink.
The small costs really start to add up after a while, so make sure you re-evaluate your expenses every now and again.