Eight Simple Yet Effective Ways to Reduce Business Costs in 2021.

entrepreneurs, no matter what they do, think about how to make more
money. Whether you are even a blogger, even the best
online sportsbook
or even a novice entrepreneur, reducing production costs is a
pressing issue.

not everyone dares to look at the costs of their business. But
sometimes profits can increase not due to increased sales, but by
reducing costs. Let's talk about the most popular saving methods in

and Diversify Suppliers

you work with some counterparties for a long time, then they get a
bad habit. After some time, they "hammer" on you, and begin
to provide services of lower quality. Therefore, regularly audit the
companies you cooperate with.

is also useful. If several firms supply products of similar quality
under similar conditions, cooperate with everyone. And if someone
falls and does not complete the delivery, then your business will not


it is useful to keep only high-level specialized specialists on the
staff. But such specializations as marketing, legal department,
accounting can be outsourced:

  • The
    costs of organizing jobs are reduced.
  • You
    pay only for the specific work done, not for the hours spent in the
  • It
    is much easier to refuse the services of a specialist for
    outsourcing than from a staff.

Your Marketing Strategy

every six months, some advertising channels lose their effectiveness,
while others gain. Audit your marketing strategy regularly and change
it depending on the current situation. Pay attention to the following

  • Check
    the effectiveness of discounts and promotions. They do not always
    pay for themselves.
  • Check
    the effectiveness of individual advertising channels. Invest in
    high-converting tools.
  • Follow
    social media. Some of them are becoming less popular with your
    target audience, others are more popular.
  • Study
    the channels that successful competitors are working with. It is
    quite possible that you will find interesting ideas.

an Effective Team

and responsible employees must be at the core of your company.
Ideally, they should be like-minded people who root for the product
with all their hearts. Finding such workers will take a lot of time,
effort, and money, but it always pays off. One active employee is
worth hundreds of apathetic individuals. With all the rest, you need
to easily and quickly part. Sometimes it can be extremely difficult
to fire a full-time employee, and therefore introduce the practice of
a probationary period into the company (at least for three months).

Office Rental Costs

about how efficiently you use the square footage of the office. And
in general, how important is the very fact of a separate room to you?
Several ideas:

coworking spaces (by the way, their number will increase by 42% by
2022). It is much cheaper to rent several tables in the coworking
space and outsource the rest of the staff.

you do not want to give up the office, but at the same time the area
is not fully used, then you can lease several tables to another

Non-Strategic Spending

costs include:

  • food
    for workers;
  • office
  • purchase
    of office supplies;
  • payment
    for the Internet.

an audit and see where you can shrink. Only in no case should you
touch the costs associated with the comfort and loyalty of employees.
These are medicine, entertainment, self-education, workplace
arrangement, and so on.


are online services that help automate some of the processes. For

  • OneTwoTrip
    (organization of business trips);
  • special
    bots (scheduling interviews, planning meetings, meetings);
  • CRM
    (setting tasks within the team and when working with freelancers).

the Right Bank

business is associated with a large number of financial calculations,
at least with the same salary payment. Banks offer special projects
for small, medium, and large businesses. Each has its own bonuses and
privileges. Explore the offers of the most reliable banks in the
country, compare the advantages and choose the one that is right for
your business.

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