Cutting Costs

Streamline Your Business:

Cutting Costs in Your Home Office

When you run a home business, you may think it impossible to cut costs. You’re already saving in rental payments by working from home, what more is there to cut? But there are more ways you can save money for your bottom line. Here are four ways to cut home office costs:

1. Shop around for the best (and cheapest) telephone and internet service.

If you’re already using a business package for your telephone service, you may want to see if a residential line might be cheaper. Because you’re working from home you can take advantage of more inexpensive phone plans. You might be able to save even more money in bundling your phone, cell, and internet services.Also be sure to monitor your long distance calls and bill clients when appropriate. You could save a significant amount of money by calling long distance during off-peak times. And remember that rates change frequently; regularly shop around for the best plans.

2. Buy used office furniture.

Wholesale office suppliers often sell good furniture at a reduced price, so don’t go out and buy the first desk that you see. And businesses often upgrade their furniture, selling their used furniture through the classifieds or business sales. Shop around. Check out thrift stores or look for liquidations, auctions, or closeouts.

3. Purchase office supplies in bulk.

You can save a lot of money in buying your office supplies in bulk. You may not realize just how much you use, but the truth is you have your own business and whether or not you use those staples, post-its, or files this month, you’re going to use them eventually. Why not stock up and save? Run the numbers and you’ll generally find that buying in bulk will save you in the end. And many office supply stores offer memberships that can also save you money. Don’t be afraid to spread the word and tell people what you do; you may be surprised at the discounts you’ll get.

4. Cut mailing costs.

If you spend a lot of money on mailings, there are various ways you can cuts those costs. Consider purchasing a meter which enables you to print exact postage rather than using too much postage trying to be safe. When sending priority mail be sure to use the free boxes and envelopes the post office offers. Also consider purchasing a bulk permit which will save you money on bulk mailings. When possible use standard-size envelopes. And finally, check your mailing lists to eliminate duplicate or bad addresses.The more aware you are of business costs, the better you can manage them. Take inventory of your expenses and brainstorm ways to cut back. You may be surprised at how a more creative approach to your costs may save you a lot of money.