5 Tips to Reduce Business Cost

This week I wanted to share a few tips on how you could reduce your business costs. These are methods that I use in MyVirtualPeople and I know first hand that these methods are truly rewarding.  I hope this helps!

If you want to discuss anything with me, perhaps you want me to elaborate on the items mentioned in this article, feel free to email me directly on rob@myvirtualpeople.com, I am always more than happy to help. Speak to you soon.

	1. Use Refurbished Equipment to reduce business costs Do your employees really need state of the art computers and laptops? Unless you are some kind of design agency for instance, chances are you could manage equally well with refurbished laptops. Large corporations upgrade their computers regularly, as a result you can buy very high spec computers for around £120 off ebay or other vendors. Whereas a new laptop would set you off around £400! Now apply this to 10 employees in your office and you can see the savings already, and you are on your way to reducing your business costs already.
2. Go Paperless as much as you can to reduce business costs Here at MyVirtualPeople we are 90% paperless. We aim to operate as efficiently as possible, working largely off cloud computing and virtual solutions. Learn to keep your important documents and files on computer. Keep soft copies as opposed to hard copies and you will certainily reduce your business costs and most likely work more efficiently. Dont print unless absolutely necessary. This is also healthier for the environment.
	3. Hire Virtual Staff for back office work to reduce business costs Businesses often make the mistake of 'over hiring'. Indeed the workload tends to increase as business develops but this is where you can be smart reduce your business costs by hiring virtual staff such as those from My Virtual People and get the work done for only £2.99 per hour per employee. A typical Admin Assistant in your office would need a salary of at least £1200 per month, an equivalent virtual employee would need only £2.99 per hour.  Learn more about this
4. Remove your Landline - use VOIP to reduce business costs Traditional telephone landlines are expensive in comparison to the VOIP solutions available today. Rental and call charges can be pretty high. Nowadays VOIP setup is very cost effective. You can either have a server installed in your own office or you could just use a cloud service offered by many reliable companies. If you can't afford a VOIP setup no problem, reduce your business costs by using Skype! you can get as many numbers as you need, and the call charges are low. Reply to this email for advice on how to switch your VOIP.
	5. Use Outsourcing to reduce business costs As your business grows the more people you will need. Naturally in todays digital age you will need more computers. Immediately you increase your business costs by having to pay your employee, tax contributions and national insurance contributions, pay for the infrastructure - desk, computer, additional electricity consumption, and office space. Use technology wisely, in todays global age you don't need all your employees in your office. Reduce your business costs by hiring  virtual staff from a reliable agency and outsource the job to an outsourcing company. Business travel can be reduced by using tele-conference, video conferencing by use skype. For more advice on outsourcing work to virtual staff you can reply to this email and I'll be happy to help.

That's all for this week I hope this helps you all in your business. As always I want to thank you for your support and feedback. Let me know if you have any questions or feedback by posting your comments or emailing me directly on rob@myvirtualpeople.com. 

Speak to you soon!


Rob
(Managing Director - MyVirtualPeople.com)

---