Keeping costs down has more to do with defining your expenditures than never splurging. Your employees are valuable, make sure you invest where it matters
Companywide Teslas, Venti mocha Frappuccinos delivered hourly, cocobolo tables, free Kent combes, a personal masseuse for every employee and unlimited first class travel, oh and wait till they see their Christmas bonuses. Just sit back and smile as you sip from your ‘World’s #1 Boss’ mug. You’ve earned it.
You forgot to budget salaries! Whoops, minor detail. At least they won’t be paying for the petrol with those in their lush new Teslas.
Of course in the real world, payroll wouldn’t accidentally be left out of the budget, but there are many minor costs that nudge their way past the boundaries of your company’s fiscal limits. Running a successful business is a balancing act. You’ll need to stick to the budget as closely as possible. While that might mean cutting back on the Frappaccinos, keeping costs to a minimum has more to do with defining your expenditures than never splurging. Your employees are your most valuable asset, make sure you invest where it matters. Think incentives, rewards, and team meetings. Here are some smart ways to keep those books balanced.
Everyone in the conference room
Janet is upset because cake day has been cancelled. She’s told the others. Everyone’s in a funk about it. You forgot to send an email and now the day has arrived cake-less. Why? Couldn’t afford it. Not good enough says John. Why didn’t we… and… suggestions fly around the room. Listen to your staff because their proposals can make the company a better place to work. Hold transparent budget meetings and be open to new ideas. Let your employees know they have a voice, and that the budget is being made around their needs as well as those of the company.
There’s no getting around that meeting in Austria. But there are rules (guidelines) you can follow to help you save money. Rules like book your flight midweek, flights are cheaper from Tuesday to Thursday. Nice hotel? Take advantage of that continental breakfast – keep an apple and cereal bar to tide you over until you have access to better (cheaper) food outside that corporate nightmare. Nothing like a great hole in the wall. Oh, and never park at the airport. EVER.
Deliver on your shipments
Have a couple of parcels that need sending? It all adds up faster than you’d believe. If you can consolidate, pallet delivery is the best possible way to ground ship your goods. Why – how does it work? Well, firstly all of your goods are securely strapped to a stumpy, but extremely sturdy platform before being carefully forklifted onto a truck. If you don’t own a pallet, certain couriers can provide one with their pick-up service for a minimal fee. If you’ve found a very good courier like National Pallets, you will be sure to deliver on promised arrival dates with their same day pickup service. Pallets offer a safe platform that will keep your goods from slipping and sliding. Compare rates to find a service that meets your budget goals.
Never cancel cake day. Cake makes everyone happy, and you’re not going to drive profits with sour faces. There are many creative ways you can cut costs, just ask your employees. Hold team meetings, offer incentives, and team up with a great courier service to vastly cut back on shipping costs.