Tips For Lowering Costs When Starting A Business

Thursday, May 15th, 2014

Starting a business is a major undertaking. Most people are working with limited funds as they get their organizations off of the ground. This means that you have to prioritize initial spending decisions, make do with less, and save money wherever possible. As you put together a company budget, consider the following factors.

How can I cut down on business costs?

Hire limited staff. It is easy to get so excited about your new venture that you put money into every aspect of the company right away. You have a great idea that makes perfect sense in your mind, and you believe that you will achieve your goals in a matter of months so you do it all at once. The bottom line is that you have to be realistic about how many employees you can hire and wait to take on anyone else until it makes sense financially.

For example, if you hire an administrative assistant with extensive website designing experience, she can launch and manage the new company website until you can hire a full-time website administrator.

Start with simple marketing materials. Designing sophisticated graphics and printing a wealth of new business cards and stationery is a lot of fun. It’s exciting to see your new logo come alive with vivid colors in print and online. However, this process doesn’t make you any money. When you start a new company, it is likely that your business model will evolve and change over the next couple years. You may save money by starting with some simple, inexpensive marketing materials and then re-evaluating your needs after a few months.

Take advantage of free resources. There are quite a few valuable business resources that are completely free, including social media. While there is nothing wrong with spending money to get your name out there, you don’t have to spend a dime to build brand recognition and followers on social media. Join Facebook and Twitter and then consider niche social media channels that are a good fit for your company such as Pinterest, Instagram, and LinkedIn.

Conserve energy. It is always best practice to conserve energy in the office environment. It is more important than ever as a small start up when you don’t have anything extra to put toward high energy and electricity bills. Conserving energy can be as simple as turning off the lights when you leave the room to as involved as purchasing a copy machine with an energy-saving idle mode. Educate your employees on company wide conservation policies so that everyone is on the same page.

Research used and refurbished office equipment. Buying used and refurbished office machines is a great way to save a few dollars while doing your part for the environment. Consider purchasing used or refurbished copy machines, computers, printers, scanners, fax machines, and furniture. Make sure to purchase electronics from reputable companies that have inspected, repaired, cleaned, and tested the machines and offer decent warranties for them.

Who sells affordable copiers in Amarillo?

UCI is a leading copy services company in the Amarillo area. We sell and service copiers, printers, and scanners to small and large businesses alike. The UCI sales staff is happy to help you figure out how to lower costs for your new organization. Pay us a visit in person at 1000 SW Adams St. in Amarillo or call 806-372-7722 to learn more about our products.

photo credit: patpitchaya /Free Digital Photo