Hotshot Connect Forum :: Save Your Business Money

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With the economy slowing down and the rising costs of doing business, it's important to save money where you can. Every business exists to make money and you can either increase revenue and/or cut costs to do it. Your company can make minor changes that can add up to big savings.

Keep a close watch on energy consumption. Maintain your vehicles - keep tire pressure up, get tune-ups on a regular basis, and change the oil. Make your office or showroom more efficient - bump up the thermostat to 78 or 80 degrees; replace regular bulbs with fluorescent lighting; and update your appliances with new Energy Star ones.

Use faxes and emails instead of regular mail when you can – it costs less.

Many have expensive 800 numbers - you can save a lot of money using voice-over internet providers (VoIP) which can save on long distance, site-to-site calls, and voicemail (consider VoiceStick, Vonage or Packet 8.)

It might also be a great time to consider shopping around for better insurance prices. Rates always vary from every company so check and see what options you have. You don't want to give up any premium service - you want them there for you when you need them - but there are many options to choose from that can save you money. Try an independent agent who can shop around to get you the best price. Raising a deductible can lower premiums.

Ask suppliers if they give discounts for early payment. If not, pay your bills as late as possible without incurring a fee. The longer your money is under your control the longer it's earning a return for you rather than someone else.