If you run a home-based business, you probably have encountered this before…Since you’re not in a normal office, should you spend money on expensive equipment? Or are there other alternatives to suite my needs?
It’s a question that office workers don’t consider – they just go to their copy room and utilize the vast array of equipment. But for a small business, that is an expensive decision, and there are ways to save money! Remember – being profitable for a small business isn’t just about earning more revenue, it’s also about minimizing expenses, especially in areas which are not essential to the business.
Computers and Equipment
Spending money on technology can add up, especially for small businesses that don’t have the purchasing power of a large company. To save money on computers and equipment, you should always look for used technology. For a fraction of the cost, you can get a computer or other piece of technology online that is maybe less than a year old. This can save thousands.
Second, you should look towards online “cloud” solutions to save money on software expenses. For example, instead of printing and sending documents via the post office, you can do large file transfers provided by services like Egnyte to save time and money. You can get your clients the documents they need immediately, and it will save you the cost of printing, the cost of mailing, and the time delay of waiting for arrival.
Another way to save cost is on utilities such as phone and internet. For phone service, you should consider eliminating it all together, unless it is an essential daily feature of your business. For many people, using an online service like Google Voice is sufficient to meet their phone needs, while being cost effective for a small business.
For internet service, see what kind of deals your local provider offers, and consider comparing your telephone internet provider with your cable company. With so much competition in most places for internet service, many consumers can benefit from lower pricing by switching providers.
Readers: If you have a home office, what tips do you have to reduce expenses?