Don't let a tough economy squash your spending
Mie-Yun Lee, Editorial Director, BuyerZone.com
May 22, 2001
Buying for the office during lean economic times can be hard to justify. But putting
the brakes on spending altogether and limping along with an inadequate setup can result
in an even bigger waste of cash. Here are some tips to stretch your current resources
and make the most of your money when you do need to shop.
Maintaining your current equipment should be your first line of defense. Nothing is
as cost-effective as maintaining copiers, printers, and other equipment that is already
paid for. Take the time to remove dust from vents to prevent overheating. Dust buildup
can easily cut months, even years, off a device's useful life.
People can greatly affect equipment life expectancy as well. Prominently post reminders
to handle the machines gently so you can reduce the chance of the equipment becoming
the inadvertent victim of user rage. Also, make sure manuals and troubleshooting guides
are easily accessible in case of a breakdown or paper jams. And adhere to maintenance
schedules. Saving the short dollars by skipping a maintenance visit can really cost you
in the long run.
When you do need to buy, do so judiciously. Try extending the life of your equipment
through upgrades rather than replacements. For example, buying additional RAM for your
computer can be enough to boost performance. This could be a paltry $50 to $100 investment
versus the $1,000 plus you might spend on a new computer.
Another way to shave 20 percent to 45 percent off your spending is by buying used or
refurbished equipment. While you will find greater savings when buying something used,
refurbished equipment provides some peace of mind that the key components of the device
have been upgraded as necessary. It is still best to buy new though when it comes to
equipment that is critical to your business so you can ensure that you receive the level
of support you need.
When you do buy any product or service that will cost more than $1,000, obtain multiple
quotes to ensure your final price is competitive. Also, before you choose a less-expensive
option simply on price, don't forget to consider the total cost of ownership.
Savings can also be found in services. Check your existing service agreements, from
your long distance to your business insurance. Make sure the plans you have accurately
reflect your needs. You may be paying additional charges for extra minutes on a cell
phone plan, for example, that could easily be saved if you upgraded your calling plan.
Alternately, you may have insurance coverage that is no longer relevant to your business.
Another way to save money on your services is to make payments on time to avoid costly
finance charges. Finally, if it's been a while since you have priced out the cost of
your services, you may want to check out current market rates by asking for quotes for
your business.
When the going gets tough, the tough cut spending. Savvy shoppers just know how to
cut the right way.