7 Cost-cutting Strategies for Your Business That can Save You a Fortune

As a businessperson, you require money for starting up and growing your business. What is left after subtracting total costs and expenses from your business revenue is what you consider as profit. Therefore, an increase in costs translates to a decrease in profit earned. You are likely to bear losses if you incur extremely high costs. Although it was difficult to operate a business without incurring costs, you can reduce them by adopting cheaper alternatives and avoiding the unnecessary costs in your operations. The following ways will help you cut your business costs significantly:

  1. Outsourcing
    The cost of recruiting and hiring an employee is usually costly as compared to contracting a professional to do a particular job. By hiring an employee, you will cater to their benefits alongside their monthly salaries, and you may need more office space. On the other hand, you will pay for the outsourced work just for the period it takes for completion. Outsourcing payroll processing to expert firms has proven to reduce payroll services cost to most businesses.
  2. Job sharing
    When you have a vacant position that is less demanding or a short-term project, you can share the work amongst your existing full-time employees. By doing so, you will avoid the high cost of employing an additional employee.
  3. Look for cheaper supply deals
    You can reduce the cost of supplies by negotiating a lower price with your existing suppliers. The best time to strike a fair deal is at the beginning of the year for most companies are flexible in adjusting prices at this time. When you are bargaining, make sure you are informed about the prevailing market price of similar products so that you don’t propose an absurd figure. However, you should be keen on the level of quality of the cheaper alternatives.
  4. Reducing rent expenses
    There are many house owners whose shopping centers are reasonably priced. However, you have to shop around to get the best deal and remember to do it early enough before your current lease lapses. It is good if you do it in not less than six months to the end of your existing contract so that you can have an upper hand when bargaining. If you do it late, you will not have enough time to sift through various options, and you may end up settling for an expensive deal.
  5. Differentiating your personal money from business finance
    A common mistake which many sole proprietors make is to mix business finance with personal money. It becomes hard for them to account for the transaction costs accurately. Therefore, it is important to separate the two so that you can come up with ways of regulating costs in your business.
  6. Embracing technology
    In modern days, the advancement of technology has helped many businesses go for cheaper electronic options rather than relying on much paperwork, which is a bit more expensive. You can send simple email messages to new customers and suppliers using an email. You will avoid spending on office supplies such as stamps, envelopes, papers as well as posting costs. Electronic storage of information is also far more cheaper than the cumbersome manual filing of business records.
  7. Using energy-saving devices
    Saving energy at home is equally important as conserving energy at your workplace. Some devices consume less energy than others, yet they perform similar functions. Despite these less-energy-consuming appliances are expensive to buy, they will save you much money in the long run since your monthly power bills will reduce drastically. Most of them have an Energy Star label.
10,471 Responses to 7 Cost-cutting Strategies for Your Business That can Save You a Fortune
  1. shell phone cases
    October 10, 2018 | 11:11 pm

    fashion cell phones

  2. Assistencia tecnica ar condicionador
    October 10, 2018 | 11:42 pm

    My brother recommended I might like this web site. He was once totally right.
    This publish truly made my day. You cann’t consider simply how much time I had spent for this information! Thank you!

  3. thi cong san go
    October 10, 2018 | 11:46 pm

    We’re a group of volunteers and opening a new scheme in our community.
    Your website provided us with valuable information to work on. You have done an impressive job
    and our whole community will be grateful to you.

  4. dragon ball z characters ages
    October 10, 2018 | 11:58 pm

    Dragon Ball Super a vraiment bien fait le job.

  5. reviews air transat
    October 11, 2018 | 12:08 am

    I’m really impressed with your writing skills and also with
    the layout on your weblog. Is this a paid theme or did you
    customize it yourself? Anyway keep up the excellent quality writing, it’s rare
    to see a nice blog like this one today.

  6. consumer report background check sites
    October 11, 2018 | 12:20 am

    We’re a group of volunteers and starting a new scheme in our community.
    Your website offered us with valuable info
    to work on. You have done a formidable job and our whole
    community will be grateful to you.

  7. driveways
    October 11, 2018 | 12:22 am

    I always spent my half an hour to read this web site’s posts everyday along
    with a mug of coffee.

  8. Meet Local Couples
    October 11, 2018 | 12:29 am

    Good day! I know this is somewhat off topic but I was wondering which blog
    platform are you using for this site? I’m getting fed up
    of WordPress because I’ve had problems with hackers and I’m looking at alternatives for another
    platform. I would be great if you could point me in the direction of a good platform.

  9. sweepstakes Online
    October 11, 2018 | 12:32 am

    I’m no longer certain where you are getting your information,
    however good topic. I needs to spend some time learning more or understanding more.
    Thanks for excellent information I used to be on the lookout for this info for my mission.

  10. acompanhantes de São Paulo
    October 11, 2018 | 12:44 am

    Wow, incredible weblog layout! How long have
    you ever been blogging for? you make running a blog glance easy.

    The total glance of your site is wonderful, as well as the content material!

    Also visit my web page … acompanhantes de São Paulo

  11. UltrastrenX Testo
    October 11, 2018 | 12:50 am

    whoah this blog is fantastic i love studying your articles.
    Stay up the great work! You recognize, a lot
    of people are hunting round for this information, you can aid them greatly. http://denyard.com/user/profile/935

  12. Female Escort in Delhi
    October 11, 2018 | 1:37 am

    Please let me know if you’re looking for a article author
    for your blog. You have some really good articles and
    I feel I would be a good asset. If you ever want
    to take some of the load off, I’d absolutely love to write
    some content for your blog in exchange for a link back to mine.

    Please send me an e-mail if interested. Thank you!

  13. cong ty lam visa
    October 11, 2018 | 1:52 am

    I know this website provides quality depending articles or
    reviews and other data, is there any other site which gives such stuff in quality?

  14. Primal1
    October 11, 2018 | 1:57 am

    I like reading through an article that will make people think.
    Also, many thanks for allowing me to comment! https://sum.vfao.com/login.aspx?returnurl=https://wind10haas.blogcountry.net/2018/09/27/methods-produce-penis-enlargement/

  15. Great article, exactly what I was looking for.

    Stop by my web-site; reallifecam, real life cam, reallife cam, reallifecam com

  16. cheap sexy shoes
    October 11, 2018 | 2:33 am

    cheapest high heels online

  17. womens sandals sale uk
    October 11, 2018 | 2:49 am

    inexpensive women’s sandals

  18. womens stiletto heels
    October 11, 2018 | 2:58 am

    dress stores

  19. Fitness Healthy
    October 11, 2018 | 3:13 am

    The information talked about inside the write-up are some of the best accessible

  20. https://yahoo-mail-login.org
    October 11, 2018 | 3:20 am

    Hi, јust wanted to tell you, I liked thіs article.
    It was funny. Keep on posting!

  21. Corene Loverdi
    October 11, 2018 | 3:32 am

    I like the helpful info you provide in your articles. I will bookmark your blog and check again here regularly. I am quite certain I’ll learn lots of new stuff right here! Best of luck for the next!

  22. shell phone cases
    October 11, 2018 | 3:34 am

    fashion cell phones

  23. Merle Maslyn
    October 11, 2018 | 3:45 am

    Have you ever thought about including a little bit more than just your articles? I mean, what you say is valuable and all. Nevertheless just imagine if you added some great photos or video clips to give your posts more, “pop”! Your content is excellent but with pics and video clips, kroplówki warszawa i okolice – usługi pielęgniarskie this website could certainly be one of the best in its field. Good blog!

  24. USB Flash Drive Manufacturer
    October 11, 2018 | 3:57 am

    we like to honor lots of other world-wide-web sites on the web, even when they arent linked to us, by linking to them. Underneath are some webpages worth checking out

  25. portal berita saham terbaru
    October 11, 2018 | 5:16 am

    Your blog on 7 Cost-cutting Strategies for Your Business That can Save You a Fortune | My Next Buck is very good. We hope you can continue writing many lot blog in the future. Viva mynextbuck.com

  26. Numbers Berkey
    October 11, 2018 | 5:20 am

    Wow! Thank you! I permanently needed to write on my site something like that. Can I include a fragment of your post to my blog?

  27. There’s no difference between bad and the good. It’s just information period.
    Just what do we do about that?

    my weblog – https://uk.linkedin.com/in/benjamin-appleby-21bb75a0

  28. Torri Favolise
    October 11, 2018 | 6:07 am

    http://bit.ly/chalkboard_megabundle – Over 300 Professionally designed Chalkboard resources for Coffee shops, hair studios, hipster establishments, events, restaurants, holidays and other occassions. Drag & Drop project creation, no need for photoshop knowledge. Make any chalkboard you can imagine in minutes with this Chlk resource megabundle from Scarab13 – Graphic Design Templates and other Creative Resources

  29. agen sbobet terpercaya
    October 11, 2018 | 6:39 am

    I’d need to test with you here. Which is not one thing I normally do! I get pleasure from studying a put up that may make people think. Additionally, thanks for permitting me to remark!

  30. cheap heels online
    October 11, 2018 | 6:46 am

    high heels for women cheap

  31. cerita sek
    October 11, 2018 | 7:05 am

    cerita sek

  32. how to make a website
    October 11, 2018 | 7:24 am

    online purchase of shoes

  33. Terrific post however , I was wanting to know if you could write a
    litte more on this topic? I’d be very thankful if you could elaborate a
    little bit further. Thank you! https://tzm.vn/tin-tuc/do-tuoi-nao-hoc-thanh-nhac-la-tot-nhat.html

  34. phone cases for iphone
    October 11, 2018 | 7:46 am

    oppo mobile case

  35. buy viagra now online
    October 11, 2018 | 8:16 am

    what color viagra pills
    viagra online order no prescription
    buy viagra online from uk

  36. Divorce Lawyers Athabasca
    October 11, 2018 | 8:53 am

    I am sure this post has touched all the internet people,
    its really really nice paragraph on building up new weblog.

  37. richeith forex ea myfxbook
    October 11, 2018 | 9:01 am

    Generally I don’t read post on blogs, but I wish to say that this write-up very forced me to check out andd do so!

    Your writing taste has beern surprised me. Thank you, quite
    great post.

    My blog post :: richeith forex ea myfxbook

  38. new york Themed songs
    October 11, 2018 | 9:21 am

    Heyy there! I’ve bewn following your site for a while now andd finally got thhe courage to goo ahead aand give
    you a shout out rom Austin Tx! Juust wanted to saay kkeep uup the great work!

    Feel free to visit my blog; new york Themed songs

  39. Wow! Thank you! I constantly wanted to write on my site something like that. Can I include a part of your post to my blog?

  40. จดลิขสิทธิ์
    October 11, 2018 | 10:22 am

    Please let me know if you’re looking for a article author for your
    blog. You have some really great articles and I
    feel I would be a good asset. If you ever want to take some of
    the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine.
    Please shoot me an email if interested. Kudos!

  41. Casey
    October 11, 2018 | 10:58 am

    Your stye iis soo unique compared to other people I have read stuff from.
    Many thanks for posting when you’ve got the opportunity, Guess I’ll
    just book mark this site.

    Here is my webb site: beddiing set king size (Casey)

  42. cheap shoe websites
    October 11, 2018 | 11:13 am

    women shoes sexy

  43. czytaj wiecej
    October 11, 2018 | 11:42 am

    You made some decent points there. I looked on the internet for the issue and located most individuals will associate with along with your website.

  44. nhac cu viet nam
    October 11, 2018 | 11:45 am

    This post will help the internet users for creating new website or even a weblog
    from start to end.

  45. boots shop
    October 11, 2018 | 11:58 am

    womens clothing

  46. Sandy
    October 11, 2018 | 12:15 pm

    Do you mind if I quote a few of your articles as long as I
    provide credit and sources back to your webpage? My website is in the very same
    niche as yours and my visitors would really benefit from some of the information you present here.
    Please let me know if this ok with you. Many thanks!

  47. women shopping sites
    October 11, 2018 | 12:23 pm

    phone cases for iphone

  48. Agen Sbobet
    October 11, 2018 | 12:51 pm

    Just wanna admit that this is very helpful , Thanks for taking your time to write this.

Trackbacks/Pingbacks
  1. Culver City Massage
  2. cat food hills id
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/7-cost-cutting-strategies-for-your-business-that-can-save-you-a-fortune/trackback/

7 Cost-cutting Strategies for Your Business That can Save You a Fortune

As a businessperson, you require money for starting up and growing your business. What is left after subtracting total costs and expenses from your business revenue is what you consider as profit. Therefore, an increase in costs translates to a decrease in profit earned. You are likely to bear losses if you incur extremely high costs. Although it was difficult to operate a business without incurring costs, you can reduce them by adopting cheaper alternatives and avoiding the unnecessary costs in your operations. The following ways will help you cut your business costs significantly:

  1. Outsourcing
    The cost of recruiting and hiring an employee is usually costly as compared to contracting a professional to do a particular job. By hiring an employee, you will cater to their benefits alongside their monthly salaries, and you may need more office space. On the other hand, you will pay for the outsourced work just for the period it takes for completion. Outsourcing payroll processing to expert firms has proven to reduce payroll services cost to most businesses.
  2. Job sharing
    When you have a vacant position that is less demanding or a short-term project, you can share the work amongst your existing full-time employees. By doing so, you will avoid the high cost of employing an additional employee.
  3. Look for cheaper supply deals
    You can reduce the cost of supplies by negotiating a lower price with your existing suppliers. The best time to strike a fair deal is at the beginning of the year for most companies are flexible in adjusting prices at this time. When you are bargaining, make sure you are informed about the prevailing market price of similar products so that you don’t propose an absurd figure. However, you should be keen on the level of quality of the cheaper alternatives.
  4. Reducing rent expenses
    There are many house owners whose shopping centers are reasonably priced. However, you have to shop around to get the best deal and remember to do it early enough before your current lease lapses. It is good if you do it in not less than six months to the end of your existing contract so that you can have an upper hand when bargaining. If you do it late, you will not have enough time to sift through various options, and you may end up settling for an expensive deal.
  5. Differentiating your personal money from business finance
    A common mistake which many sole proprietors make is to mix business finance with personal money. It becomes hard for them to account for the transaction costs accurately. Therefore, it is important to separate the two so that you can come up with ways of regulating costs in your business.
  6. Embracing technology
    In modern days, the advancement of technology has helped many businesses go for cheaper electronic options rather than relying on much paperwork, which is a bit more expensive. You can send simple email messages to new customers and suppliers using an email. You will avoid spending on office supplies such as stamps, envelopes, papers as well as posting costs. Electronic storage of information is also far more cheaper than the cumbersome manual filing of business records.
  7. Using energy-saving devices
    Saving energy at home is equally important as conserving energy at your workplace. Some devices consume less energy than others, yet they perform similar functions. Despite these less-energy-consuming appliances are expensive to buy, they will save you much money in the long run since your monthly power bills will reduce drastically. Most of them have an Energy Star label.
10,471 Responses to 7 Cost-cutting Strategies for Your Business That can Save You a Fortune
  1. shell phone cases
    October 10, 2018 | 11:11 pm

    fashion cell phones

  2. Assistencia tecnica ar condicionador
    October 10, 2018 | 11:42 pm

    My brother recommended I might like this web site. He was once totally right.
    This publish truly made my day. You cann’t consider simply how much time I had spent for this information! Thank you!

  3. thi cong san go
    October 10, 2018 | 11:46 pm

    We’re a group of volunteers and opening a new scheme in our community.
    Your website provided us with valuable information to work on. You have done an impressive job
    and our whole community will be grateful to you.

  4. dragon ball z characters ages
    October 10, 2018 | 11:58 pm

    Dragon Ball Super a vraiment bien fait le job.

  5. reviews air transat
    October 11, 2018 | 12:08 am

    I’m really impressed with your writing skills and also with
    the layout on your weblog. Is this a paid theme or did you
    customize it yourself? Anyway keep up the excellent quality writing, it’s rare
    to see a nice blog like this one today.

  6. consumer report background check sites
    October 11, 2018 | 12:20 am

    We’re a group of volunteers and starting a new scheme in our community.
    Your website offered us with valuable info
    to work on. You have done a formidable job and our whole
    community will be grateful to you.

  7. driveways
    October 11, 2018 | 12:22 am

    I always spent my half an hour to read this web site’s posts everyday along
    with a mug of coffee.

  8. Meet Local Couples
    October 11, 2018 | 12:29 am

    Good day! I know this is somewhat off topic but I was wondering which blog
    platform are you using for this site? I’m getting fed up
    of WordPress because I’ve had problems with hackers and I’m looking at alternatives for another
    platform. I would be great if you could point me in the direction of a good platform.

  9. sweepstakes Online
    October 11, 2018 | 12:32 am

    I’m no longer certain where you are getting your information,
    however good topic. I needs to spend some time learning more or understanding more.
    Thanks for excellent information I used to be on the lookout for this info for my mission.

  10. acompanhantes de São Paulo
    October 11, 2018 | 12:44 am

    Wow, incredible weblog layout! How long have
    you ever been blogging for? you make running a blog glance easy.

    The total glance of your site is wonderful, as well as the content material!

    Also visit my web page … acompanhantes de São Paulo

  11. UltrastrenX Testo
    October 11, 2018 | 12:50 am

    whoah this blog is fantastic i love studying your articles.
    Stay up the great work! You recognize, a lot
    of people are hunting round for this information, you can aid them greatly. http://denyard.com/user/profile/935

  12. Female Escort in Delhi
    October 11, 2018 | 1:37 am

    Please let me know if you’re looking for a article author
    for your blog. You have some really good articles and
    I feel I would be a good asset. If you ever want
    to take some of the load off, I’d absolutely love to write
    some content for your blog in exchange for a link back to mine.

    Please send me an e-mail if interested. Thank you!

  13. cong ty lam visa
    October 11, 2018 | 1:52 am

    I know this website provides quality depending articles or
    reviews and other data, is there any other site which gives such stuff in quality?

  14. Primal1
    October 11, 2018 | 1:57 am

    I like reading through an article that will make people think.
    Also, many thanks for allowing me to comment! https://sum.vfao.com/login.aspx?returnurl=https://wind10haas.blogcountry.net/2018/09/27/methods-produce-penis-enlargement/

  15. Great article, exactly what I was looking for.

    Stop by my web-site; reallifecam, real life cam, reallife cam, reallifecam com

  16. cheap sexy shoes
    October 11, 2018 | 2:33 am

    cheapest high heels online

  17. womens sandals sale uk
    October 11, 2018 | 2:49 am

    inexpensive women’s sandals

  18. womens stiletto heels
    October 11, 2018 | 2:58 am

    dress stores

  19. Fitness Healthy
    October 11, 2018 | 3:13 am

    The information talked about inside the write-up are some of the best accessible

  20. https://yahoo-mail-login.org
    October 11, 2018 | 3:20 am

    Hi, јust wanted to tell you, I liked thіs article.
    It was funny. Keep on posting!

  21. Corene Loverdi
    October 11, 2018 | 3:32 am

    I like the helpful info you provide in your articles. I will bookmark your blog and check again here regularly. I am quite certain I’ll learn lots of new stuff right here! Best of luck for the next!

  22. shell phone cases
    October 11, 2018 | 3:34 am

    fashion cell phones

  23. Merle Maslyn
    October 11, 2018 | 3:45 am

    Have you ever thought about including a little bit more than just your articles? I mean, what you say is valuable and all. Nevertheless just imagine if you added some great photos or video clips to give your posts more, “pop”! Your content is excellent but with pics and video clips, kroplówki warszawa i okolice – usługi pielęgniarskie this website could certainly be one of the best in its field. Good blog!

  24. USB Flash Drive Manufacturer
    October 11, 2018 | 3:57 am

    we like to honor lots of other world-wide-web sites on the web, even when they arent linked to us, by linking to them. Underneath are some webpages worth checking out

  25. portal berita saham terbaru
    October 11, 2018 | 5:16 am

    Your blog on 7 Cost-cutting Strategies for Your Business That can Save You a Fortune | My Next Buck is very good. We hope you can continue writing many lot blog in the future. Viva mynextbuck.com

  26. Numbers Berkey
    October 11, 2018 | 5:20 am

    Wow! Thank you! I permanently needed to write on my site something like that. Can I include a fragment of your post to my blog?

  27. There’s no difference between bad and the good. It’s just information period.
    Just what do we do about that?

    my weblog – https://uk.linkedin.com/in/benjamin-appleby-21bb75a0

  28. Torri Favolise
    October 11, 2018 | 6:07 am

    http://bit.ly/chalkboard_megabundle – Over 300 Professionally designed Chalkboard resources for Coffee shops, hair studios, hipster establishments, events, restaurants, holidays and other occassions. Drag & Drop project creation, no need for photoshop knowledge. Make any chalkboard you can imagine in minutes with this Chlk resource megabundle from Scarab13 – Graphic Design Templates and other Creative Resources

  29. agen sbobet terpercaya
    October 11, 2018 | 6:39 am

    I’d need to test with you here. Which is not one thing I normally do! I get pleasure from studying a put up that may make people think. Additionally, thanks for permitting me to remark!

  30. cheap heels online
    October 11, 2018 | 6:46 am

    high heels for women cheap

  31. cerita sek
    October 11, 2018 | 7:05 am

    cerita sek

  32. how to make a website
    October 11, 2018 | 7:24 am

    online purchase of shoes

  33. Terrific post however , I was wanting to know if you could write a
    litte more on this topic? I’d be very thankful if you could elaborate a
    little bit further. Thank you! https://tzm.vn/tin-tuc/do-tuoi-nao-hoc-thanh-nhac-la-tot-nhat.html

  34. phone cases for iphone
    October 11, 2018 | 7:46 am

    oppo mobile case

  35. buy viagra now online
    October 11, 2018 | 8:16 am

    what color viagra pills
    viagra online order no prescription
    buy viagra online from uk

  36. Divorce Lawyers Athabasca
    October 11, 2018 | 8:53 am

    I am sure this post has touched all the internet people,
    its really really nice paragraph on building up new weblog.

  37. richeith forex ea myfxbook
    October 11, 2018 | 9:01 am

    Generally I don’t read post on blogs, but I wish to say that this write-up very forced me to check out andd do so!

    Your writing taste has beern surprised me. Thank you, quite
    great post.

    My blog post :: richeith forex ea myfxbook

  38. new york Themed songs
    October 11, 2018 | 9:21 am

    Heyy there! I’ve bewn following your site for a while now andd finally got thhe courage to goo ahead aand give
    you a shout out rom Austin Tx! Juust wanted to saay kkeep uup the great work!

    Feel free to visit my blog; new york Themed songs

  39. Wow! Thank you! I constantly wanted to write on my site something like that. Can I include a part of your post to my blog?

  40. จดลิขสิทธิ์
    October 11, 2018 | 10:22 am

    Please let me know if you’re looking for a article author for your
    blog. You have some really great articles and I
    feel I would be a good asset. If you ever want to take some of
    the load off, I’d absolutely love to write some material for your blog in exchange for a link back to mine.
    Please shoot me an email if interested. Kudos!

  41. Casey
    October 11, 2018 | 10:58 am

    Your stye iis soo unique compared to other people I have read stuff from.
    Many thanks for posting when you’ve got the opportunity, Guess I’ll
    just book mark this site.

    Here is my webb site: beddiing set king size (Casey)

  42. cheap shoe websites
    October 11, 2018 | 11:13 am

    women shoes sexy

  43. czytaj wiecej
    October 11, 2018 | 11:42 am

    You made some decent points there. I looked on the internet for the issue and located most individuals will associate with along with your website.

  44. nhac cu viet nam
    October 11, 2018 | 11:45 am

    This post will help the internet users for creating new website or even a weblog
    from start to end.

  45. boots shop
    October 11, 2018 | 11:58 am

    womens clothing

  46. Sandy
    October 11, 2018 | 12:15 pm

    Do you mind if I quote a few of your articles as long as I
    provide credit and sources back to your webpage? My website is in the very same
    niche as yours and my visitors would really benefit from some of the information you present here.
    Please let me know if this ok with you. Many thanks!

  47. women shopping sites
    October 11, 2018 | 12:23 pm

    phone cases for iphone

  48. Agen Sbobet
    October 11, 2018 | 12:51 pm

    Just wanna admit that this is very helpful , Thanks for taking your time to write this.

Trackbacks/Pingbacks
  1. Culver City Massage
  2. cat food hills id
Leave a Reply


Wanting to leave an <em>phasis on your comment?

Trackback URL http://mynextbuck.com/7-cost-cutting-strategies-for-your-business-that-can-save-you-a-fortune/trackback/