By Robert Sullivan
New business owners will want to maximize their net profits, especially in those critical startup months. Seemingly insignificant items can add up to major savings for your business. Consider the following and watch your bottom line improve:
• Negotiate--You can frequently purchase at a discount by merely asking, so you should be negotiating everything, including services. Always request a discount if you pay cash or intend to pay within five to 10 days.
• Comparison Shop--If you have been purchasing goods from the same vendor for a few months, put your regular order up for bid with the competition. It is likely you will do better.
• Shop By Mail Order--It is frequently economical and convenient, so shop through mail order whenever possible. You should also use a credit card when ordering. If you have a problem later, the credit card company will assist you.
• Use Toll-Free Phone Numbers--These can add up to major telephone savings. Numerous vendors and suppliers have 800 numbers which may not be widely advertised. Don't purchase an expensive 800 directory. Either use the toll-free operator (800-555-1212) or better yet, search the internet at http://www.tollfree.att.net/dir800/.
• Barter--It really works! This is a great way to help your cash flow. There may be tax consequences, however, so check with your accountant or CPA.
• Monitor Telephone Usage & Supplies--Telephones and supplies are often misused and considerable savings are possible by being diligent.
• Monitor Energy Consumption--Utilize auto-setback thermostats and automatic light switches. The savings can be dramatic.
• Shop for the Best Telephone Service--Rates and services vary considerably between suppliers. Furthermore, rates change frequently. Shop around from time to time and switch if necessary.
• Use Fax or E-Mail--You will save the cost of postage, paper, envelope, mailing time and get instant delivery! Send messages in the evenings or weekends for further reduced telephone rates and save even more. Most fax machines and e-mail systems provide for delayed sending.
Robert Sullivan is the author of THE SMALL BUSINESS START-UP GUIDE, available for $19.45 ppd. For information, you may write Information International, P.O. Box 579, Great Falls, VA 22066. The toll-free phone number is (800) 375-8439. You may also contact the publisher's website at http://www. isquare.com or leave e-mail for bobs@isquare.com.
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