Every company striving for success understands that getting there requires hard work, persistence, discipline, and some good old-fashioned good fortune. Of the things that are in control of management, they need to be handled professionally and with great care to ensure they support the growth and bottom line of the business.
At the forefront of creating a successful business is a focus on two areas, and the first is to increase sales. This can be accomplished by selling more of your products or services, raising the price of your products and services, or introducing new products and services that sell well.
The second way at a company can improve his bottom line is by lowering costs. These can be costs attributed to sales, marketing, and operations. The bottom line is that wherever you save, it positively affects the bottom line.
Cutting costs is an art that requires a delicate balance between getting rid of what you don’t really need, and holding on to those things that you need desperately. In the best case, you achieve a situation where you retain everything that you have, but you lower the cost for owning or using those things. With this in mind here are a few ideas for lowering costs at your business, without sacrificing quality or effectiveness.
Purchasing a new HVAC unit
First off, HVAC units are expensive purchases. Depending on the size of your business, replacing your old ducted air conditioner and commercial installation can range in cost from thousands to tens of thousands of dollars. But even with this large expense, replacing the unit might be a smart business decision. Today is HVAC units are much more efficient than those manufactured a decade or more ago. These efficiencies mean cost savings on one of your company’s largest bills, electricity. New units can often save you more than 25% on your electric bills. This money goes directly to your bottom line and will position to pay for itself overtime.
In addition to the money savings, you also gain happier employees who are more efficient. Studies have shown that who employees work in an environment that has quality air conditioning perform better. This increased level of efficiency also adds to the bottom line of your business.
Consider moving some of your employees to the night shift
Opening up or increasing night time shifts for your employees can have great benefits for your business. Some employees are night owls who simply do better once the sun goes down. By offering them a chance to work during the night, they will be happier and more productive. Additionally running your office at night can be less expensive. Electricity cost are lower, so running your HVAC and machinery during the night will save you money. Finally, if you have international clients, working through the night might allow you to get your products out quicker.
Focusing on cost-cutting, is as important increasing your bottom line, line, as focusing on sales and marketing. Consider replacing your HVAC unit and creating a night shift, and it might increase your profits.