1.Switch to open source software. An open source solution isn’t scary. Open source software costs a fraction of the price of commercial products while still offering all, if not more, of the features.
2.Consider using VoIP. VoIP is a phone service that uses the Internet. Many businesses are opting for this cheaper alternative that can save them up to 60% over their traditional telephone costs.
3.Switch from a merchant account to an online payment service like Paypal. Save on your statement fees and monthly fees. However sometimes this option comes to more cost, so do some number crunching to see if making a switch will really save you money.
4.Look for cheap or free web hosting. Read the reviews of hosts at Web Hosting Unleashed to see which providers have saved businesses money.
5.Buy recycled printer cartridges. Printer ink is one of the most expensive liquids on the planet. Much of it is margin, so find low-cost sources like EBay or Amazon.
6.Turn off equipment when it’s not being used. This can reduce energy consumption by 25%; turning off the computers at the end of the day can save an additional 50%.
7.If appropriate, use laptop computers. Laptops consume 90% less energy than standard desktop computers.
8.Stop paying for software. Visit sites like Download.com to try hundreds of software products for free through trial downloads, freeware and limited versions. Also check manufacturers’ websites for free trial downloads.
9.Do it online. Do all of your sales calls need to be in person? Internet-based technologies like Web conferencing and tools like Microsoft Office Live Meeting or Skype let you make online presentations to customers.
10.Get a freelancer. Don’t let Larry in accounting eat up your electricity as he checks his fantasy football league stats. Hire freelancers, consultants or contractors to work for you from home.
11.Sublet office space. You’ll always need to pay rent, regardless of the economy. But try to avoid any additional bills and contracts that will come with having your own office. Subletting is a great way to accomplish this.
12.Hire college students or interns for credit. An internship program is a win-win situation for your business. You get bright, young and ambitious employees to do your dirty work for little or no pay.
13.Eliminate unnecessary paper waste. Implement paper-reducing strategies such as double-sided printing and reusing paper. You’ll save some trees, too!
14.Free form it. Don’t waste time and resources finding writers to produce forms for your business. Search online for free forms you can download and print. Entrepreneur.com specifically has ones for small businesses.
15.Keep an eye on going-out-of-business sales. You’re business isn’t going to tank because you’re reading this article. But other companies are bound to fail during this recession. Update your business’s digs by capitalizing on the misfortune of others.
16.Create an e-newsletter. It’s much cheaper to market to previously acquired customers than creating new direct-marketing collateral.
17.Communicate on online forums and message boards. You’ll interact with potential clients and customers – for free.
18.Join trade associations. You’ll get industry-specific information, advice, sales opportunities and other member benefits.
19.Consider outsourcing your HR, benefits and payroll to an external provider. Handing over administrative responsibilities to another company will save you time and money.
20.Seek at least three bids on everything. Even mundane purchases merit shopping around. If you quote a competitor’s lower price, a supplier or vendor will often match that price to win your business.