© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - Innovative Business Concepts to Save Money
Posted 30th June 2021

Innovative Business Concepts to Save Money

The ultimate goal of any business is to turn a profit. Here are five innovative business concepts you should explore to save money.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Innovative Business Concepts to Save Money
Man stacking coins with a graph of profit

The ultimate goal of any business is to turn a profit. One way to increase your margin is by reducing expenditures. Here are five innovative business concepts you should explore to save money.

1. Unexpected Automation

If you aren’t yet using apps to automate many of your daily practices, please take the time to learn the tech. You’ll end up saving precious minutes every day as a result — and time is money. Today, apps can do everything from cleaning up your desktop to keeping you on schedule.

You’ll find some innovations surprising, such as self-serve beer technology for restaurants and other public venues. Such devices allow staff members to devote their time to providing top-notch service, not making repeat runs to the tap for one patron determined to drink away their blues.

2. Telecommuting Beyond the Pandemic

The pandemic made telecommuting the new normal, and you should adapt if you want to save money and remain competitive when seeking new hires. Nearly 40% of recent survey respondents said they would rather quit their jobs than return to the office full-time.

Maybe it isn’t “the way you always did things,” but consider the perks. You’ll save a small fortune on office space rent and utility bills — and get rewarded in higher productivity to boot.

3. Going Green

Are you still printing out meeting agendas? Please don’t unnecessarily kill trees and throw cash away on ream after ream. Strive to make your workplace as paperless as possible to cut costs.

Likewise, taking advantage of natural light, switching to long-lasting LED bulbs and installing low-flow plumbing fixtures when upgrade time arrives can save you considerable cash on monthly utility bills. If you work in construction, selling your scrap materials instead of tossing them in the dump can put money in your pocket while being kinder to the planet.

4. Embracing a Shorter Workweek

The research that currently exists supports the anecdotal evidence that a shorter workweek boosts productivity. It only makes sense — employees who are focused on how to squeeze in that doctor’s appointment or needed oil change during regular business hours aren’t dedicating their full mental powers to the task at hand.

You also save money by keeping the lights and other utilities off or used lightly on out-of-office days. Dialing up the office thermostat to 85 degrees for three days instead of two each week can save you a small fortune in cooling during a Phoenix, AZ summertime.

5. Adopting Free or Low-Cost Marketing Strategies

Finally, improved communication systems have made marketing more affordable than ever before. Sit down with your department and discuss ways to cut costs by harnessing the power of social media and building an online presence over pricier methods like television advertising. You could conceivably shave tens of thousands of dollars each year by emphasizing those campaigns that require minimal overhead to launch and perpetuate.

Save Money With These 5 Innovative Business Concepts

Your ultimate goal as a business owner is to increase your profit margin, and cutting costs is one way to do so. Save money with the five innovative business concepts above.

Categories: Finance, News


You Might Also Like
Read Full PostRead - Eye Icon
Sterling Global Operations named by Forbes as one of America’s Best Employers for 2015
Strategy
10/04/2015Sterling Global Operations named by Forbes as one of America’s Best Employers for 2015

Forbes has recognized 100 percent employee-owned Sterling Global Operations (SGO), as one of America's best employers.

Read Full PostRead - Eye Icon
From Ledgers to Digital: The Evolution of Accounting Practices
News
27/10/2023From Ledgers to Digital: The Evolution of Accounting Practices

For thousands of years, accounting has been an integral part of civilization. From the earliest days of recorded history, bookkeepers have been tracking credits and debits, assets and liabilities. While the fundamental principles remain unchanged, the tools an

Read Full PostRead - Eye Icon
Keep Your Business Agile with Secure Data Protection
Legal
06/11/2023Keep Your Business Agile with Secure Data Protection

The modern business model is one of agility. In the past few years, we have seen a growing number of small and medium-sized enterprises (SMEs) discarding traditional, hierarchical ‘top down’ infrastructures and creating flatter and more flexible structures

Read Full PostRead - Eye Icon
Crypto Payment Solutions Designed to Cash-In
Finance
13/02/2024Crypto Payment Solutions Designed to Cash-In

CoinsPaid proudly provides a crypto payment ecosystem suitable for use by both businesses and individuals, thanks to groundbreaking solutions that are tailored to a client’s every need.

Read Full PostRead - Eye Icon
Lower Profits at Brazil’s Foreign Banks Limit Expansion
Leadership
16/02/2015Lower Profits at Brazil’s Foreign Banks Limit Expansion

Reduced profits from capital market-related activities to hold back plans for expansion in the country.

Read Full PostRead - Eye Icon
How Important Are Online Reviews to Businesses? Statistics to Know
News
27/10/2023How Important Are Online Reviews to Businesses? Statistics to Know

Source – Unsplash Everyone reads reviews before making a purchase. You may be a business owner, but as a consumer, you know you’re also reading them before making a purchase. It freaks some leaders out – 78% of them are worried their brand&rs

Read Full PostRead - Eye Icon
Forget GameStop, gamification is the real investing revolution
Strategy
05/03/2021Forget GameStop, gamification is the real investing revolution

The impact on the financial world was sensationally underlined in the US, when a swathe of retail investors sought to bring down eminent hedge funds by bidding up the beleaguered GameStop stock. Behind the David and Goliath headlines, are some trends that the

Read Full PostRead - Eye Icon
Strategy, Management & Legal
Finance
08/01/2018Strategy, Management & Legal

Grand Hill Consulting is one of the most successful restructuring boutiques in Brazil.

Read Full PostRead - Eye Icon
Sensoring Future Growth
Finance
05/11/2015Sensoring Future Growth

Global image sensors market to grow at 10.30% CAGR to 2020 with consumer electronics having major market share



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow