I know that one of the great things about a home-based business is that we do not have to worry about a big, paper-logged workplace with Human Resources departments and lots of boring meetings. BUT, we can still keep an eye out for ways to make our home businesses more efficient. And, even if we don’t have efficiency experts and consultants breathing down our necks, finding ways to cut waste and improve productivity can pay off in more lucrative and stress-free businesses.
What sort of things might constitute waste? Well, it depends on the type of business you are running. Start by looking over your supplies and equipment and see if everything is working properly and you are purchasing only those supplies you need to get work done. It may seem dull and obvious, but looking at whether you are wasting paper, postage, or other “little things” can add up in terms of savings and improved efficiency. Are there ways that you could improve efficiency and waste less? Are there ways you could share some expenses with another business or friend? For example, maybe you make so few copies that you don’t really need a copy machine and having a computer printer with copy capability would be a better way for you to go in your business.
What are some of the other places where waste can be rampant? Look at how you are doing any mailing or shipping. This is getting increasingly expensive and there might be ways for you to be more cost-effective about it. Perhaps, you are sending paper and mail where you could be sending e-mails or making phone calls. Are you paying for web services that you don’t need or phone services that you are not using? Look through every facet of your business operations and see if there aren’t ways you can eliminate waste and improve efficiency.