I just read an article from Anita Campbell’s Small Business Trends on tips to save money and time in small business and at home.
The article was written by John Mariotti, President and CEO of The Enterprise Group, and it contains very useful tips to save your most valuable resources – Time and money in both your small business and home.
I thought I just pick my top 10 tips of the 20 along with the reason why I pick the tips.
10 tips to save money and time for your small business
- Do-it-yourself (DIY) instead of hiring someone
A classic suggestion when done right could save a fortune (even it could save your business.) List what activities you can DIY without compromising the others, and do them consistently. And, oh, you can also DIY your office supplies – be creative!
- Use email to avoid phone tag
Use email to set up phone calls – State your intention in the email clearly about your purpose for calling. Phone tagging is simply resource-wasting activity.
- Use email wisely
If it’s better and faster for you to talk face-to-face or using the phone than using email, just do it – Emails are great for general conversation, but for more sensitive matters, it’s better and faster to converse in real time.
- Private label goods are good buys
For your office needs, buy private label goods – they are generally cheaper and come with strong guarantees (some do offer replacements with branded names if you are dissatisfied.)
- Plan ahead: Avoid wasted travel time and fuel
Plan all of your activities whenever possible to avoid counter-productive activities. For example, leaving an important document you should carry with you at your office will require you to travel back to pick it up – It’s time, fuel and all-in-all money wasting activity.
- Group similar tasks
This can be a live-saver, especially if you are used to multitask. Remember, human brain can’t multitask, and doing so will only leave you doing things longer than they should. Grouping similar tasks and do them in ‘batch’ – group by group can save you from resource and energy wasting of multitasking.
- Minimise small talk
Small ‘talks’, whether in person-to-person conversation or written conversation (including tweeting in Twitter), waste time and energy. Cut the chase of, and go straight to the point. Socialise when it’s time to socialise – not during busy hours.
- Consolidate into a smart phone
Owning several communication devices won’t make you more productive – Consolidate everything into a smart phone – your to-do-list, notes, meeting schedules, contact info, etc. – and backup the data on regular basis.
- Save energy
Practice the common sense to conserve energy (and save money) – turn off unused lighting, regulate your thermostat in a way that it’s efficient in maintaining your office temperature, use compact fluorescent or LED bulbs, etc.
- Bundle your purchases
Whenever possible, try to buy in bundle (or buy a bundled products) to max-out your savings. Of course, things are a bit better with the help of coupons and deals.
Small business resource-saving tips
Image by rintakumpu.