Small Business Tips: Six Ways To Reduce Overhead Costs
Here’s a daunting fact: While more than 500,000 small businesses will launch this month, just as many will fold because they can’t meet overhead costs. Sure, there are factors beyond an owner’s control, like the economy and unforeseen industry changes, but successful small businesses find ways to pinch pennies, adopt wise practices and discover new innovations that save money.
Here are six suggestions:
1. Go paperless.
It isn’t just for bank statements anymore. Paperless options are enhancing how people run their business. For example:
• If contracts are part of your business, companies like Docusign have e-signing services that make documents easy to complete from thousands of miles away, saving time and shipping costs.
• Need to get hardcopy documents into your employees’, partners’ and client’s hands? Professional scanning companies can turn around large volume of documents in one day by converting them into CD-ROMS, DVDs or simple emails and integrating them with any software system you choose.
• Cloud computing has become a business game-changer. Cloud-based services now allow you to easily share documents with coworkers and clients so last-minute meetings can be scheduled in an organized, efficient way.
2. Evaluate your needs.
Make a list of all the items you spend money on for your business and then categorize them into essentials, enhancers and things you don’t need. Take the third list and eliminate everything on it. Take a good look at the “enhancer” list—are you getting a good ROI on each investment? If not, cut those, too. Whether it’s a barely used landline or a web service that could be replaced by a less-expensive service provider, every little bit counts.
3. Use a virtual office space.
Working from your own home is already a cost saver, but it poses challenges—like where to hold client meetings. Gathering around your kitchen table with Fluffy rubbing up against clients’ legs might not leave the best impression. Davinci Virtual Office Solutions was created to give you a better, cost-sensitive solution.
We provide office locations and virtual office services worldwide. With professional business addresses in over 950 prime locations, we offer mail forwarding, lobby and directory listings, access to conference rooms and day offices, catering, administrative services, business support centers and more.
4. Stay focused.
Likely you already use the clock to your advantage, but distractions happen—especially when you’re working from home (the dishes from last night, the random knock at the front door, phone calls both business-related and otherwise).
Gain valuable time-management techniques, like multitasking and daily planning, to stop the disruptions.
5. Use a virtual receptionist.
Another way to avoid distractions so you can concentrate on growing your business is to hire a virtual receptionist—and it’s a lot less expensive than hiring a staff member. Davinci Virtual Receptionist offers live, offsite specialized receptionists who can answer your calls (and screen and forward them) make appointments, place orders, process payments, provide customer care and make outbound calls for a small monthly fee.
6. Free advertising
Use that social media. Twitter, Facebook, LinkedIn and other platforms are a small-business owner’s way to easily and cheaply spread the word about their business. Why not ask a client to take a moment to write a LinkedIn review in exchange for a fee discount? Or simply ask a client to post a tweet about their experience. It’s free advertising with a vast audience.
The big picture
Owning a small business is an exciting, challenging endeavor. And there is no way to eliminate overhead. But with a smart business plan in place, using all the resources available to you, it may become the most successful move you’ll make in your career. Learn more about how Davinci can help. Contact a member of our expert team today.
Categories
- Business Marketing
- Business Resources
- Customer Success Stories
- Customer Success Stories: Communications
- Customer Success Stories: Meeting Rooms
- Customer Success Stories: Virtual Office
- Entrepreneur Tools
- Management
- Meeting Rooms
- Virtual News
- Virtual Office
- Virtual Receptionist Services
- Workplace Culture
Subscribe to Our Blog
Archive
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- March 2017
- February 2017
- December 2016
- November 2016
- October 2016
- September 2016
- June 2016
- April 2016
- March 2016
- January 2016
- December 2015
- November 2015
- September 2015
- August 2015
- July 2015
- June 2015
- March 2015
- January 2015
- November 2014
- October 2014
- August 2014
- July 2014
- May 2014
- April 2014
- January 2014
- October 2013
- September 2013
- June 2013
- April 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- April 2011
- March 2011
- January 2011
- December 2010
- October 2010
- September 2010
- July 2010
- June 2010
- April 2010
- March 2010
- January 2010
Talk to an expert
Want to know more about our Virtual Offices? Give us a call
Get the Perfect Virtual Address Now
Find a Virtual OfficeServices
Virtual Offices Virtual Office Features What is a Virtual Office? Full Time Spaces Live Receptionist Live Receptionist Features Virtual Phone Number Live Web Chat Meeting Spaces Meeting Space Features Coworking Spaces Event Spaces Marketplace Incorporation Services Search Virtual Office Services Near MeInstant Group
- © 2024 Davinci virtual office