New Year's
Resolution: Save Money
January 2003
We thought this month would be a good time to revisit budget cutting
techniques. After all, costs are still a top priority in business, so here
are some ideas to trim last year's ‘fat’.
IMPROVE BUYING HABITS
Because most every staff member in an
organization will touch the budget in some way, they should know how to shop
vendors and develop good buying habits.
Speaking of habits, are you buying products and
services from the same suppliers without revisiting prices? Often suppliers
have adjusted pricing for new customers, but your account may still carry
older, inflated fees. Make time to inquire and compare.
The internet can offer huge benefits when you
need to research just about any item: phone lines, hardware, office
supplies. Save coupons, visit wholesalers, compare purchase & lease options,
and even give auction sites a look for good deals.
MANAGE EQUIPMENT
It cannot be overstated: The #1 way to keep down
office equipment costs is regular system maintenance. Whether its a defrag,
virus update, or cookie cleanup, routine maintenance (and review of your
maintenance schedule) will help your systems last longer and run better.
When it is time to get rid of equipment, consider
having a sale within the existing staff or even a partner company, by way of
silent auctions or website posting. Another option is the tax-deductible
donation to a school or charity. The Community Resource Center here in
Nashville was established just for this cause: to re-distribute equipment
and furniture back into our non-profit organizations.
EXAMINE EFFICIENCY
Update department/employee manuals at least once
a year: ask if the right person has been assigned each duty, try to spot
redundancies, and question the efficiency of each procedure.
When possible, detail the costs associated with
in-house processes—look at other options to see if it’s more cost efficient
to outsource.
You can also reverse this approach by examining
the costs of current off-site processes. Freelancers, consultants, partner
agencies, and outsourcing services should be able to run a cost/benefit
analysis to prove their worth.
If you make this type of cost-cutting a part of your day’s work, your
budget will lose weight and look year's younger in 2003!
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approach was 
