Running a commercial enterprise can be time consuming, mentally consuming and financially consuming. Having the right mindset is one of the things that all top business owners manage to achieve.
If you have the right mindset and the ability to think outside of the box, then you have a much better chance of being successful. You will be able to develop new strategies to drive profits and tactics to decrease your operating overheads like the ones below.
Profit – Operate Online
Most businesses are now operating online for a very good reason; it is profitable. If you have been considering operating online, now is the time to take those ideas and make them a reality.
The great thing about the internet is that you can cover a much wider area. Instead of relying on passers by and local adverts to drive your business, you can market your business to the whole country! There have been many instances where offline based businesses have re-orientated their operation and focused solely on their online operation due to the immense amount of revenue to be had.
Costs – Outsource
Employees can end up costing businesses a lot of cash. Not only will they want an annual salary that is contractual, they will also take holiday pay, sick pay and you may even have to contribute towards a pension.
Here is the catch; they might not actually be productive 100% of the time. If they have nothing specific to do, they might be completing tasks that are below their skill set. Obviously this means that they are wasting company money.
This is where outsourcing comes in. When a company outsources, they will have a range of workers designated to different tasks. For each task, there will be a worker that is a specialist in completing that task. This means that tasks get completed to a high standard, but you save money by paying them on a pay-as-you-go basis.
Profit – Renting Your Office Address
With more and more freelancers now working from home, renting your office address could be an option. Although many freelancers are honest, they struggle to get clients as they do not have an office address and phone number; they do not look legit. You can use your address as a virtual address for their business.
There are already companies offering this service and they usually charge somewhere in the region of £100-150 per year. This is a great way to make the most out of a facility that you have already paid for. Just 20 clients could end up netting you £3,000 per year!
Costs – Buying Second Hand
Don’t feel that you need to buy everything brand new. The reality is that buying second hand is becoming more and more popular. There are plenty of things in a commercial environment that do not have to be purchased brand new. If you search places like Amazon, eBay, liquidators and even commercial vehicle suppliers like Howards Commercials, you could find yourself saving around 50% on the RRP of that particular product.
Alex is an online writer that has been writing for a range of blogs throughout the internet. Since 2007, he has been writing for blogs in the UK, USA and Australia. He has covered topics such as small business financing for vehicles, the economic recession and the future of the economy.