Business Cost of Living Tips (and hacks!)

[Paul Kelly ICHYB]

With the increasing financial pressures hitting us all personally and in business, I thought it would be a good idea if members shared their ideas and hacks to reduce costs, increase efficiencies and generally save money in business (not personal!).

 

[Paul Kelly ICHYB]

I will go first!

Negotiate everything - suppliers, couriers, merchant account providers, especially if you are long term customer and/or are growing your account with the supplier.

Many merchant account providers will review you account every 6 months IF YOU ASK THEM. This shows that some suppliers need to be reminded to offer you discounts.

Some stationary companies automatically increase their prices every year, but not if you challenge the price increase.

Mobile phone providers (and other tech utilities) will not change your plan and offer a better value one at the end of contract unless you contact them.

 

[Mark T Jones]

Go though all recurring payments and ask yourself 'why?'

If your car is bigger / thirstier / more expensive than you need, sell it and downsize

 

[IanSuth]

Dont print unless you need to and dont leave a laser printer/photocopier turned on all day if not being used (they keep heating up using energy)

 

[HFE Signs]

Cut back all your expensive marketing and buy lots of banners from us

 

[HFE Signs]

On a serious note, we've changed all office lighting to LED tiles

We had 60 units each with 4x18W fluorescent tubes Total 4.32kW

Now 60 units each 40W LED Total 2.4kW

Additional advantages:
Better light
Easier to clean and smarter looking
No noise from flys and wasps!

We're in the process of doing the workshop with savings as follows:

Currently 14 x 400W Total 5.6kW

Replacing with 14 x 150W LED Total 2.1kW

Obviously we have a substantial outlay but with todays energy the payback period is significantly reduced.

Also - Measure waste with a view to reduce and see if you can reduce skip collections, we went from every two weeks to once a month.

 

[IanSuth]

Cut back all your expensive marketing and buy lots of banners from us

In which case

Don't spend time and money interviewing any job applicants unless you know they have the skills for the job first (p.s you can use our tools to test them remotely on a pay as you go basis).

Seriously though, be extra careful recruiting people, if times are tight you can't afford mistakes as much. Look at temp to perm or trial periods if you can. Consider remuneration packages with less basic pay and greater performance bonuses.

Also consider an incentive scheme where if a member of staff comes up with a plan that saves money/increases revenue you give them a % of the difference - irrelevant of whether they are in procurement/sales. Everyone should be thinking on their feet from the warehouseman to the MD

 

[Mark T Jones]

Obviously we have a substantial outlay but with todays energy the payback period is significantly reduced.

Fortunately LED lighting can be financed over 5 years.

Which has the additional benefit of helping my cashflow

 

[Annoying Donkey]

Also consider an incentive scheme where if a member of staff comes up with a plan that saves money/increases revenue you give them a % of the difference - irrelevant of whether they are in procurement/sales. Everyone should be thinking on their feet from the warehouseman to the MD

I do like that one...

 

[Paul Kelly ICHYB]

Remember, if you like any particular answer/s, upvote them!

 

[Talay]

Remember, if you like any particular anser/s, upvote them!

Why ?

Are we degenerating to the likes of Facebook begging for "recognition" on social media ?

Will I need a safe place if no-one likes my comment ?

Should I tell mommy ?

Maybe auto spell check should be enabled for the grammar Nazis. Anser is actually Answer

 

[MikeJ]

Don't put a space before a question mark.

 

[Talay]

In which case

Don't spend time and money interviewing any job applicants unless you know they have the skills for the job first (p.s you can use our tools to test them remotely on a pay as you go basis).

Seriously though, be extra careful recruiting people, if times are tight you can't afford mistakes as much. Look at temp to perm or trial periods if you can. Consider remuneration packages with less basic pay and greater performance bonuses.

Also consider an incentive scheme where if a member of staff comes up with a plan that saves money/increases revenue you give them a % of the difference - irrelevant of whether they are in procurement/sales. Everyone should be thinking on their feet from the warehouseman to the MD

I agree with most but in the first month you can get rid with zero notice unless you (foolishly) contract to do otherwise.

Most prospective employees are dross at the moment in the lower paying end of things. The better ones are being counter-bid by current employers and the merry wage cycle goes up.

 

[Paul Kelly ICHYB]

Thanks for pointing out my grammar infraction - fat fingers combined with not using spell check.

The reason for upvoting is it helps those with a lesser attention span see what is popular.....

 

[Paul Kelly ICHYB]

First month? Isn't it first 2 years?

 

[Onthebrightside]

On a serious note, we've changed all office lighting to LED tiles

We had 60 units each with 4x18W fluorescent tubes Total 4.32kW

Now 60 units each 40W LED Total 2.4kW

Additional advantages:
Better light
Easier to clean and smarter looking
No noise from flys and wasps!

We're in the process of doing the workshop with savings as follows:

Currently 14 x 400W Total 5.6kW

Replacing with 14 x 150W LED Total 2.1kW

Obviously we have a substantial outlay but with todays energy the payback period is significantly reduced.

Also - Measure waste with a view to reduce and see if you can reduce skip collections, we went from every two weeks to once a month.

We've also done this in the house, we've swapped out all the fluorescent tubes for the new led types and changed all the spot bulbs to led. Saved us quite a bit.

 

[Onthebrightside]

We bought one of those Ninja Foodie ovens. Warms up in under a minute and cooks quickly, to be fair I bought it because I am an old git unable to keep bending down to the current oven and too tight to buy a kitchen to install an eye level oven Yet to see if it makes any savings in the electric bill, although I believe it might because the current oven takes about 10 minutes to warm up!

 

[BustersDogs]

I lived my whole life frugally. I'm confused as hell that other people don't know you don't need lights on in rooms you aren't in, (travel corridors an exception) and that wearing jumper indoors isn't illegal...

 

[Onthebrightside]

I lived my whole life frugally. I'm confused as hell that other people don't know you don't need lights on in rooms you aren't in, (travel corridors an exception) and that wearing jumper indoors isn't illegal...

God sake I know! News item: "People are buying jumpers to wear indoors this year"

When I was a kid we had to wear our jumpers and coat indoors some days, we lived in an attic flat that had no front door, just a twisting staircase leading up to it, so every time someone came in the front door downstairs the wind came up the stairs!

There was one coal fire in the living room and a TV you had to put sixpence in the back of to make it work, we occupied ourselves for hours trying to find buttons that would fit in the slot.

We were as happy as anything running in the streets outside and building from leggo etc indoors. Do you remember the scheduled power cuts when you had to get the candles out - and then non scheduled ones where you had to see who could find the kitchen cupboard where the candles were kept in the dark- great fun!

We had some old aunts who lost their husbands in the war and lived together in a flat opposite. They'd make a cheap cauldron of stew out of scraps for us that would stay on the stove and last 3 days. Happy days!

 

[IanSuth]

God sake I know! News item: "People are buying jumpers to wear indoors this year"

When I was a kid we had to wear our jumpers and coat indoors some days, we lived in an attic flat that had no front door, just a twisting staircase leading up to it, so every time someone came in the front door downstairs the wind came up the stairs!

There was one coal fire in the living room and a TV you had to put sixpence in the back of to make it work, we occupied ourselves for hours trying to find buttons that would fit in the slot.

We were as happy as anything running in the streets outside and building from leggo etc indoors. Do you remember the scheduled power cuts when you had to get the candles out - and then non scheduled ones where you had to see who could find the kitchen cupboard where the candles were kept in the dark- great fun!

We had some old aunts who lost their husbands in the war and lived together in a flat opposite. They'd make a cheap cauldron of stew out of scraps for us that would stay on the stove and last 3 days. Happy days!

I agree with all of that except "Happy days", i remember getting up in the middle of winter nights as too cold to sleep and creeping downstairs to sit on the aga and warm up (ps this was before agas became fashionable and ours was an old furnacite burning one with welding rods stored in the warming oven)

I also remember seeing the firemen stood around an oil drum brazier outside the firestation on strike and the green goddesses attending fires

 

[estwig]

You were lucky.

We lived for three months in a brown paper bag in a septic tank. We used to have to get up at six o'clock in the morning, clean the bag, eat a crust of stale bread, go to work down mill for fourteen hours a day week in-week out.

When we got home, our Dad would thrash us to sleep with his belt!

 

[IanSuth]

I agree with most but in the first month you can get rid with zero notice unless you (foolishly) contract to do otherwise.

Most prospective employees are dross at the moment in the lower paying end of things. The better ones are being counter-bid by current employers and the merry wage cycle goes up.

You are going to end up paying them for a week if you formally offered them a permanent job and that is quite a big cost - at min wage it is over £400 for a week (with NI etc), so a test costing £25 suddenly looks a lot cheaper. If you have waited a month for someone to work out notice elsewhere, get them in and then they are rubbish you have also wasted that time (and your interviewing time)

or as I said you take a punt on one with no experience and out of work and offer them a trial with zero notice - you will both know where you stand.

 

[Onthebrightside]

I agree with all of that except "Happy days", i remember getting up in the middle of winter nights as too cold to sleep and creeping downstairs to sit on the aga and warm up (ps this was before agas became fashionable and ours was an old furnacite burning one with welding rods stored in the warming oven)

I also remember seeing the firemen stood around an oil drum brazier outside the firestation on strike and the green goddesses attending fires

Mate, you have strayed onto one of my hot topics - Firemen should be paid the same wage as a Member of Parliament (if not more). For goodness sake, they run into burning buildings!!! Ad miners and soldiers to that list also, nurses and health care works as well please.

I know what you mean, once the coal fire went out in our flat the whole thing chilled down, we had ice on the inside of the windows! Then you had to clean it before you lit it in the morning. Literally, we have one toilet between 4 flats and it was 4 flights down in the garden - you either held it or froze to death taking a pee! Fortunately their were 5 of us in a small bedroom, I think we made it through by huddling together

Not as bad as my mate though who lived in Scotland in a rented farm house, the snow came in under the door and they had to shovel it out in the morning!

 

[Onthebrightside]

You were lucky.

We lived for three months in a brown paper bag in a septic tank. We used to have to get up at six o'clock in the morning, clean the bag, eat a crust of stale bread, go to work down mill for fourteen hours a day week in-week out.

When we got home, our Dad would thrash us to sleep with his belt!

Monty Python never dies ?

 

[JEREMY HAWKE]

Not for everybody but I like messing around with the spanners
Things have been good over recent years but when things were tough I was able to run old vans and maintain them myself . I still have a couple of 18 year old vans that I look after and that is the only reason they are making money because I take car of them myself.

Today I am going to Luke's workshop Luke is a rocket engineer and he plugs in WIFIS cumputery software internets to solve problems on a modern van . Its all a bit beyond me . He is very good and you can find him on the myspace

 

[MikeJ]

You were lucky.

We lived for three months in a brown paper bag in a septic tank. We used to have to get up at six o'clock in the morning, clean the bag, eat a crust of stale bread, go to work down mill for fourteen hours a day week in-week out.

When we got home, our Dad would thrash us to sleep with his belt!

Of course, we had it tough...

 

[Newchodge]

First month? Isn't it first 2 years?

In the first 4 weeks you don't need to pay a week's notice. You do between 4 weeks and 2 years.

 

[complete]

I have 16 Flourescent 35W tubes in my shop and 2 in my office. I've tried LED tubes which are 18W but I get eyestrain with them so having to stick with Non LED. Just worried about Jan 23 when my Fixed deal with EDF runs out. Shop needs constant heat to stop it getting cold and all electric heating.

 

[WaveJumper]

LED lighting can make some big savings as mentioned above, I would add to this think about areas which are not visited / used much and have the fittings on sensors so only on when required.

 

[Onthebrightside]

I have 16 Flourescent 35W tubes in my shop and 2 in my office. I've tried LED tubes which are 18W but I get eyestrain with them so having to stick with Non LED. Just worried about Jan 23 when my Fixed deal with EDF runs out. Shop needs constant heat to stop it getting cold and all electric heating.

I got these https://www.amazon.co.uk/gp/product/B0859VJKTX/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&th=1 off of Amazon and they were much brighter than the florescent ones. My boy then found the same thing in a hardware warehouse near us far cheaper. He kitted out his motorcycle garage with them. Really easy to put up and cheap to run.