Money is the lifeblood of your company. Without it, there’s a good chance you’ll go out of business. Yes, there are many other reasons you may fail, yet a lack of resources is the most common.
Your job is to cut costs where possible as every little helps. Plus, scaling back is a mentality that will become second nature before long. You won’t make excuses when you know you can cope with relatively few indulgences.
Business supplies are one area where discounts are available yet ignored. It’s time to stop sleeping on them by checking out the four proven ways to secure the best prices below.
You must get into the minds of your suppliers so that you can understand how they operate. As a rule, most providers prefer their money upfront as it saves them chasing unpaid invoices. Plus, many are strapped for cash and require some form of liquidity to pay upcoming bills. Saying that you’re willing to pay early, then, is a smart way to negotiate a price reduction. After all, if you know that they need the payment right away, you can leverage your position to your advantage. Of course, it has to be in the company’s interests.
Increase The Volume
Increasing the volume of your order is more than buying in bulk. Yes, it’s similar because it does decrease the price per item; however, you don’t have to make significant purchases straight away. Instead, you can tell the supplier that you’re willing to make the transaction a long-term one if the numbers make sense. When businesses know that it isn’t a one-off deal, the bosses are happier to sanction discounts to sweeten the deal as it maintains the steady stream of income.
Focus On Cosmetic Damage
All you care about is quality. Is the product or service to a high standard? If the answer is yes, you’re willing to continue with the transaction. Still, you shouldn’t assume that cosmetic damage isn’t relevant as it could save you money. Steep discounts are provided in some circumstances as company policy when boxes are damaged, blemished, or already opened. You can click here to learn more. If they aren’t, nothing stops you from inquiring since damage to packaging can affect the quality of a product or service, depending on the scale. All anyone can say is no, which is why it’s always worth asking the question.
Join Affinity Clubs
An affinity club is like a rewards scheme that companies and participating partners take part in. For example, American Express has an OPEN savings program that includes businesses such as Hertz and FedEx. Follow the link to learn more. When you pay with an Amex credit card at one of these retailers, you earn points that you can use to reduce your business’s expenses. Think of it as a Clubcard for a supermarket. Sometimes, the discount is as big as 5%, which is significant as corporate purchases are usually greater.
Discounts are out there, but you’ve got to search for them.