I recently sent the following to a reporter interested in how small businesses can save big money. My response a bit counterintuitive but it is true.
Small business owners can save some big money by (wisely) spending money. Here are three examples:
Upgrade your computers system. I have seen many owners’ who wouldn’t upgrade their computer systems because of cost. Yet once the system was upgraded their employee’s productivity skyrocketed.
One owner was too cheap to buy a new printer. This caused his accounting department to work very slowly as waiting for reports to print bogged down their computers (they had to wait for the printing to finish to do more work). New printer, problem solved.
Not upgrading the website to be customer friendly. For one business buyer, an upgraded website meant customers could book orders on the web. This meant less time the employees had to put in to process an order (and less time for the customers’ employees who now didn’t have to wait on the phone to order). The result was he doubled the business in two years with almost no increase in operating costs.