Published on Feb 27, 2017
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We are all looking for ways to save on business expenses.
For example UPS, a delivery company in the USA, have found an interesting way of saving money – their drivers simply don’t turn left.
Quartz recently found that UPS drivers are given routes that avoid turning left across oncoming traffic (in the States this means turning left, here in Australia we turn right across traffic).
Routes are calculated to avoid turning left even if it means a longer route.
At first glance the whole things seems a bit odd. However this driving tip saves UPS millions of gallons of petrol every year as drivers no longer sit waiting for gaps in oncoming traffic.
That means less time on the road. And that amounts to a savings of millions of dollars every year.
While this may not work for you there are a number of strategies you can use to save money in your business:
- Introduce telecommuting. Not everyone can do it, but if you can, you will save on office space and overheads that go with it like electricity and phone lines.
- Don’t limit your vacancies to people with ‘x’ amount of experience. Instead hire people who exhibit good problem solving skills and are tech-savvy. What they don’t already know they will quickly catch up on.
- Moving to the cloud for your data needs will save you on hard-ware like servers and makes your data accessible anywhere. Cloud data services also make introducing telemarketing a cinch.
- Shop around. It is too easy to be complacent about regular costs for items like insurance rates and office consumables, but it all adds up over time.
- Quit using unnecessary office paper. In a study conducted by Xerox, around 40% of paper is thrown away within 24 hours of being printed on.
- Rethink your advertising strategy – the audience is changing and so is technology so it may be time to embrace a new marketing tool.
Most importantly don’t let yourself get stuck in a rut with your business strategy.
Review your business, embrace change and innovate.
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