You probably heard it from your parents as a teenager, “Money doesn’t grow on trees!” While some may still be trying to wrap their minds around this revolutionary concept, most of us as adults have finally gotten the message and are now trying to drill it into the heads of our own kids. We’ve grown up, taken on responsibility and have learned this fact for ourselves- maybe even through the school of hard knocks. We now better understand the value of money, and, hopefully, the importance of saving and making sure that our monthly spend doesn’t exceed our monthly income.
However, with the hit of COVID-19, making sure that the dollar amount coming in for us and the businesses we either own or work for is greater than the dollars going out has become an increasing challenge. With many businesses in a state of slow recovery, cash flow is tight, and both employees and employers alike are having to look for ways to save money wherever they can.
If you are looking for ways to cut costs in your workplace here are three simple ideas that you can start implementing immediately.
This probably seems like a no-brainer, but turning off machinery, computers, fans, coffee makers, etc. can have a significant impact on your energy bills. In addition, programing the air conditioner, and in cold weather months the heater, to run less during the hours your business is closed can also save you a pretty chunk of change.
Brand Name vs. Generic/Compatible
If you are accustomed to always getting brand name items, whether it’s cleaning products or ink and toner, it can be difficult to switch to something you’re less familiar with even if it does save you money. While there is always a certain amount of risk in trying something new to you, quite often you’ll find that a less expensive “generic” option works just as well- and sometimes better! A couple brands that we have found to be reliable and satisfactory in their performance are the Boardwalk line of cleaning, bathroom and breakroom products, the Universal line of office products and the Clover Imaging compatible ink and toner cartridges.
Negotiate with Your Credit Card Processor
Ask your credit card processing company if they can lower their fee rates, especially if you are either a long-time or a high-volume customer. Having a long history with a certain company and/or a high dollar amount per month that you process through them gives you leverage for negotiation.
Of course, there are many other things you can do in addition to these three suggestions that will save you dollars in the long run. For example, getting new windows and doors that are more energy efficient, or getting a solar powered water heater. But we wanted to provide you with a few things that you can start doing now without having to spend more money before you can save it. After all, money doesn’t grow on trees.