Buy Refurbished Products
There is a very significant difference between refurbished and second-hand products, although they may seem like interchangeable terms.
A second hand product is quite simply a used product that is being resold by the original owner, or a reseller who bought it from the original seller. There is no warranty involved with second-hand purchases, unless the device is still within its manufacturer warranty period.
A refurbished product, on the other hand, is one that has been used before, but is being resold by the manufacturer or a dealer after servicing and repairing it as necessary, so that the product functions almost as well as a new one, if not exactly like a brand-new product.
Take for example, a refurbished xerox versant 180 for sale, which costs significantly less than what it would cost if you had to buy one for your office firsthand. X-Digital is selling the same, exact heavy-duty copier/printer/scanner with a hefty discount and a maintenance contract to keep the machine running for years in your new office, while helping you to save on a major office appliance.
Hire a Small and Efficient Team
Even if you have the budget to hire a full office crew, it is always better to start with a skeleton crew that’s efficient. It will keep your expenses low, and your profits high.
While there is no doubt that in order to grow bigger, you will eventually have to expand your employee roster, in the beginning, the ROI should be of most significance to you than anything else. Smaller, efficient teams are easier to maintain and they produce better results. Limited as the team may be in its revenue generation capabilities, it should be remarkable in terms of cost-efficiency.
If the operation requires more than just a few people, simply divide them into small efficient teams instead. Larger groups working together is something that takes time to develop. Until then, this is the wisest approach to both productivity and team building.
Learn, Understand and Apply the Concepts of Lean Management
Largely meant for manufacturing and warehousing facilities, lean management consists of multiple principles that can also be applied in a regular office environment.
The exact parameters will vary with the business’s nature, but at its core, all lean management and manufacturing techniques involve the reduction of wastage in any and all forms.
If you have plans to make investments that would be beneficial for the future, but not right now, it would be considered a wasted investment. Start with the bare minimums and work your way up from there to save initially and break even faster.
