What I observed in my experience, every small business owner
is basically suffering to pay rent to their premises. In my
consultation they are saying that 15 days of their income
is going to paying rent only.
It is un-digestible situation. In open competition… without
having knowledge, experience and commitment some are coming
into business by paying high-rents, that is giving effect
to other business persons also. To avoid this only one way
is better to come to lease for 5 years or 10 years something
at a stretch.
In this manner we can avoid increasing rents, raising rents
etc. Before the lease time if they want to close, is better
to give that time to another person for certain amount. Suppose
if they continue… they can gain experience and gain something…
then go to their own premises.
Always think over to come to own premises for small business,
if availability is there.
Saving tips in other ways: -
Energy saving is most important. Instead of Electricity,
nowadays Solar Lights are coming… by that we can save 50%
of electricity bills. Regarding Gas Saving… nowadays so
many electronic stoves are coming, micro oven is also
another safety way for miscellaneous usages.
Ethics: For suppliers… it is better
to pay in time. If sales are not there, you can convince
to supply small units. If your word is sincere, they will
deliver in-time without taking money in the initial stage.
If you lose the word of commitment then you will not get
Cutting advertising costs: Advertising is must
for small units, but is simple & apt. Not too expensive.
Some business consultancy companies reducing their costs
through their Mobile-driven “YouTube” videos about their
services and procedures.
Better to do Right investment in Office supplies :
It gives a lot of business. I observed some places they
will have good office, but they will not have stepping
Ropes for stepping into their office. All will not come
without Ropes. By not having Stepping-ropes… they lost
so much business and mood also.
Outsourcing is better if you are facing
any time heavy work load. Nowadays so many freelancers are
there to tackle your work.
Reduce Postage & Courier Charges: Utilize Mobile
services for communication. If business is increasing call
them to your office for taking Offer Letters and Appointment
If business is increasing… better to deploy
part-time jobs from home, for regular emailing, routine
works etc.it gives a massive time saving and space saving
also. Put them Slots even to come to office also randomly.
Otherwise again in certain times, you will face space problem.
Provide cycles to office boys for miscellaneous, for dropping
to colleagues and nearby utilize bikes only instead of cars.
It reduces so much of fuel saving. Day time utilize fans only.
Better to switch off Tube lights from 11am to 4pm. Instead
of those utilize LED Bulbs; it saves so much of current consumption.
Economy is becoming toughest day-to-day, think over in every
aspect to save money, that finally saves your long-run business
indirectly. Have your won trials to save money in all means.
Wishing you all the best,