Reduce Your Overhead Costs Without Hurting Your Business

Reduce Your Overhead Costs Without Hurting Your Business

As a small business owner, you probably always have your eye out for ways you can increase profits by cutting overhead costs. Some fixed expenses are unavoidable, but many can be eliminated or severely reduced with some careful adjustments or outright changes.

Switch to VOIP

Instead of going to the expense of installing and maintaining landlines in your office, reduce overhead costs by using your existing broadband connection for your communication needs with Voice Over Internet Protocol, or VOIP. Place your calls with a computer, tablet, smartphone, special VOIP phone or traditional phone with VOIP adapter. With VOIP technology, communications are easy to secure by encrypting and authenticating them. Eliminate the need for human telephone operators by using software to distribute incoming calls.

Reduce Rent

Decrease your need for a large physical office operation by having your employees telecommute. Cut down overhead costs by maintaining a smaller office for when you require physical meetings. Instead of hiring fulltime personnel when specific work needs to get done, outsource the job to freelancers or independent contractors. Hiring temporary personnel eliminates the need to pay costly benefits, and if particular temps show potential to benefit your business as fulltime employees, they are ready to work without a lengthy training period.

Save on Equipment

Rather than accepting a provider’s first price on equipment leases, reduce overhead costs by always taking the time to negotiate for lower monthly payments. Many providers are willing to compromise to retain your business. Alternatively, consider buying used equipment rather than leasing. Sometimes equipment that is only months old comes at a considerably reduced price. Save on supplies such as paper, ink cartridges and file cabinets by reducing your paper trail and saving vital information on hard drives and in cloud storage.

Eliminate Clutter

Clear out your storeroom, and sell, donate, or toss whatever you don’t need. Not only can you write off the donations, but also the saved space can be reorganized and put to more efficient use.