I just found an article by INC magazine titled “Insight: Five Ways to Save Money (Layoffs Not Included)” which builds on the Blog post we did on October 21st, “Scary Times” Office Space Tenant Guide.” In the article they suggest five cost saving tips for small businesses which I thought were pretty good. Here is a brief summary:
Send Employees Home – Savings of around $3,200 per telecommuting employee. Communicating with them is the biggest challenge.
Share Your Staff – Outsource or job share employees with another company to keep valuable employees who might otherwise need to be laid off.
Get Customers to Put Away Their Credit Cards – If you have a lot of credit card sales, you know the 3.2% fee on each charge adds up. Offer perks or rebates for check or electronic debits to discourage credit card usage.
Cut Back on Travel – There are lots of great technological advances that can put you effectively in front of clients or associates in far away places.
Try Do-It-Yourself Marketing – Consultants and advertising are expensive. One company offered employees bonuses for Blogging about their product in their spare time and it has been a huge success in generating new business. I guess Blogging is the way to go :-)General , Office Space