Even though you might not be thinking about it, maintaining a low overhead can only be achieved by managing every expense. Sure, infrastructure is the largest factor in overhead’s impact on your general budget, but if you are able to keep track of everything else underneath that, you have a chance at shaving large chunks off of your annual budget.
If you make sure to install energy-saving equipment, not over-invest in technology that will become outdated in a short amount of time, and find the most economical vendors for supplies you consume regularly, your business will drastically reduce its spending. One low-hanging fruit for a business that is looking to start saving money is to cut back on the amount of money it spends every month on office supplies.
You do not need to stop supplying your office well to decrease overall spending. Instead of focusing on lowering quality or even the general level of supplies, look for more economical sources. Rather than shop at some of the retail shops that are a little pricier, look for the cheaper stores that are able to offer better prices because of their scale.
When you take advantage of the economy of scale of shops like Kmart, you can get fantastic deals like $5 off, $10 off, $15 off, and even 40% off for Black Friday. Kmart’s new partnership with Groupon is allowing the retail giant to offer fantastic deals to small-time and larger consumers alike. Even if your office only goes through a few printer ink cartridges per month, saving $1 or $2 on each of those will net your company $5 of savings per month. If you can rack up savings of that size on a few different items each month, you are soon going to be adding up to thousands of dollars annually.
The aim in trimming overhead isn’t to decrease quality, but to shop more wisely and end up with the same items, while paying less. If your aim is to furnish your company with the tools it needs to succeed while trimming your budget, then definitely check out Kmart’s new partnership with Groupon.