Get Smart To Save On Office Supply Costs
One thing that’s true of any small business - cash flow is usually an issue. In the early days of establishing your company, you’ll generally find that you’re in a stage where you need to make a fair amount of outlay. From rental deposits to secure warehouse facilities or an office, to paying a recruitment consultant to help you make new hires, accountancy fees and buying materials upfront, there are generally quite a few costs to meet.
The trouble is, they all happen at a time when you perhaps aren’t generating a regular income - you’re still trying to establish a client base or get the word out to regular customers. This means many small businesses experience a perfect storm of needing to make purchases without a whole lot of revenue. And this cash flow bottleneck, if not managed properly, has ended many promising start-ups in their first years. The smart entrepreneur, therefore, is always looking for ways to save money. You can apply this mentality to everything, from negotiating a discounted lease on your premises, even down to saving money on office supplies. After all, if you look after the pennies…
Purchase Second Hand
No one made a rule that office supplies have to be brand new. In fact, you can get some amazing deals if you go pre-loved. Many large corporate companies are locked into an upgrade cycle, meaning that every few years they replace IT equipment or office furniture - which you can then purchase, usually at a huge discount. Sites offering used office equipment have been springing up all over for the last few years. You can usually get some great items which are very lightly used - and cut the cost to your own business. This even works when it comes to buying a work van or fleet vehicles should you need them. Think of it as doing your bit for the planet, as well as your company bank account. The less money you spend on equipment, the more you have to put into building your business. And you can always opt to upgrade later when the cash flow situation improves.
Use Your Negotiation Skills
Knowing how to use your negotiation skills to secure a discount is something that will stand you in great stead throughout your business career - and certainly when it comes to supplies. Form a good relationship with your business suppliers, and you might gain more than a discount - favourable payment terms, advance knowledge of new products and even some inside info on competitors that they also supply - you never know! From purchasing a large format printer for the office to getting hold of the reams of paper to fill it, there is always a deal to be found if you know how to ask.
Look For Offers
Wait to stock up on supplies until you see them go on sale or a supplier has a discount event - and then buy as much as you can if you know it will get used. You could also consider joining a bulk buyers club, where you might pay a small annual membership fee in return for being able to shop discounted products all year round.
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