When your company needs to save a little cash, it can be hard to find the right place to cut the money out of your budget. You don’t want to cut any employees, but you don’t want to have to turn the lights off during the day, either. So what’s the solution? Here are three tips you might find useful when you tackle the problem of spending too much money.
Look Over Your Advertising Budget
Cutting ads that are working for your company is a bad idea, but chances are there are some ads that just aren’t carrying their weight. You can often find cheaper alternatives that are at least as effective as the ones that you have now, if not more so. One of the best ways to save money is to boost your networking and lessen your actual advertising. Good networking will do tons more for you than an ad on a billboard; people who really know you and what you do are better referrals than any written advertisement.
Use Your Time More Wisely
By using your time wisely, you’ll likely avoid overtime, which will save your company thousands a year. There are many time management strategies out there, but the strategy found to be most effective in the workplace is to minimize distractions. Scheduling periods of work with breaks in-between is also effective, and so is setting reasonable expectations for project deadlines.
Use Virtual Technology to Your Advantage
Using virtual technology is as easy as installing a program and buying a mic. When you need a bit of free physical space, consider using Skype for your meetings. It’s an easy and free program that can include a number of people at the same time for a video call. Even phone call meetings can be superior to renting out space for everyone to come and chat face to face. You can also use programs like Google Drive to store information that may need to be passed from building to building. All documents are fully editable on Google Drive, and once saved, the document automatically syncs so the changes can be viewed by any user with access.
