Big or Small, Every Business Needs the Same Things

by on August 15, 2018

Business today is a very diverse sector. We still have large employers operating in office buildings and factories, but we also have countless smaller companies that do their work in basements and garages, sometimes almost entirely online.

With so many different types of businesses in operation, it would seem that there could be almost nothing they would have in common. However, this assumption is incorrect.

Whether you’re making handmade Christmas ornaments in your woodworking shop or managing a multi-million dollar investment firm, there will be things you’ll need to buy and tasks you’ll need to accomplish in order to keep things running smoothly. Sure, the big business will use more, but the costs as a percentage of operating expenses may be very similar regardless of size. For that reason, saving money on supplies can benefit a business of any size.

One simple example is business supplies. Your weekend enterprise of making customized coffee mugs can save just as much by purchasing through Coastal Business Supplies as your largest competitor can. It’s just a matter of shopping around until you find those best-price providers.

This is an area where a lot of businesses of every size fall short. They often think of supplies as a minor part of their inputs, because they may be more focused on wildly fluctuating oil prices or on the rising cost of health insurance. But when a company is pulling supplies from the shelf again and again each day, the benefits of lowering those costs should be clear.

While every business uses supplies, small businesses have a tougher time-saving money because of their lower consumption. It can be very expensive to buy even the smallest bulk package and use it slowly over a period of weeks or months, and in the case of perishable or time-sensitive inputs, it can’t be done at all. Small businesses need to find ways to source inputs in quantities that they can consume in a timely fashion so that they don’t tie up money for a long period of time. Surety bonds are a must have for small businesses. Learn more about what a surety bond is and why they are so important for businesses by reading this surety bonds guide.

Another common area of expense today is social media. While the platforms are free, the time spent maintaining the company’s presence is not. That’s true whether it’s handled by the one-person show of a home business or whether there is dedicated staff in marketing that spends the whole day making posts and replying to comments. Many companies, big and small, are finding that they are money ahead to hire someone in the growing field of social media management to maintain a positive online presence for the company without the burden of doing it themselves.

Marketing is much the same. Any company of any size needs to let its target market know who they are and what they do, and the time involved in this process can be particularly taxing on small companies. When the burden becomes too great, there are marketing firms and specialists who can help with it, taking another time-consuming task off the to-do list.

Of course, not everything a home-based business needs is quite parallel with the requirements of a bigger company. Logistical factors are often part of this. If a big company has lots of deliveries to make, it buys or leases some vehicles, hires some drivers, and starts making deliveries. If your home business is overwhelmed at getting things out to customers, it’s probably going to be easier to work with a shipping company to build a plan for managing those packages based on their normal delivery schedules and routes. I have seen lots of business owners now using a virtual office too like, as it gives them so much more privacy.

There is no goal more widely pursued in business than that of lowering costs. That’s true of the multinational corporation and of the basement enterprise. Economizing on supplies, uniforms, and services can go a long way toward achieving the cost reductions that make profitability possible.

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