"A penny saved is a dollar earned."
                                -Ben Franklin

We will resume our discussion on various ideas that might save you a few dollars. The item numbers are continued (e.g., we ended with item #13 in the last discussion; we will start with item #14 today).

Topic IV – Nitpicking Office Overhead

14. Buy recycled supplies. Using recycled materials should never embarrass you; most of these supplies, e.g., printer cartridges, copier paper, etc. cannot be distinguished from the originals. Besides, if these supplies are for intra-office use, whom do you need to impress? Check Google or the Yellow Pages for a local recycled printer cartridge or paper supplier (Staples, Best Buy, Office Max, and Office Depot all have very good recycled supplies).

15. Get your stuff online. Instead of wasting time driving to and buying forms at your local office supply store or spending time creating them yourself, you can find tons of forms online (try www.techbuyer.com formerly www.Formnet.com) that you can download, customize, and print. The major suppliers (listed in #14 above) often give on-line-only discounts that can save you an additional percentage (usually 10%) over the price listed at the physical store you have to drive to.

16. Get free software. Visit www.download.com to try hundreds of free software products through trial downloads, freeware, and limited versions of the full product. You can research the best software options for small businesses including many links to the free trials of those brands. Also, check out the manufacturer's site. Most offer free trial downloads. In addition, sometimes the manufacturers run specials that are better deals than you can get at your local Best Buy, CompUSA, etc.

17. Buy used equipment. Save up to 60 percent by buying used computer equipment, copiers, and office furniture. Auctions (especially e-Bay) and newspaper classifieds are good sources. Do not fail to look simply because you think your business is so niche-oriented that your needed supplies or equipment would only be available through your supplier. I recently saw a new, in-the-box biological laser (for use in the healthcare professions) that listed for $15,999 through the retailer that sold on E-Bay for $4,000.

Topic V – Insuring Your Insurance

18. Take advantage of your association. When looking for insurance, check with your trade or professional association. Many associations offer competitive group insurance with special considerations placed on the needs of your specific profession.

19. Be prepared. Buying appropriate insurance upfront saves money in the long run. Consider what situations would be catastrophic to your business and protect yourself with adequate insurance. Disaster recovery is one area where business owners should never scrimp.

20. Raise your deductible. Raising the deductible on your insurance usually lowers your premiums. Even if you end up having to pay the deductible, it is likely to be less than the amount you save. In addition, utilize your insurance to the max once the annual deductible has been met. For example, once your deductible has been met, complete any medical services you might need in the near future within that calendar year.

21. Give your medical insurance a check-up. Before choosing a medical insurance carrier, ask for information on past claims and the loss ratio of paid claims to premiums. Make sure that the carrier can service the needs of your particular business. For example, a business whose employees handle hazardous materials as part of their job must be covered if an accident occurs.

22. Make a foul-weather friend. By arranging for an alternative place to run your business in case of a major disaster, you may be able to save on business interruption insurance. For instance, you could arrange with a firm in the same industry to use their facilities in case of damage, and vice versa. Make it even better by forming a group with friends who are willing to look out for each other during a disaster. Make sure you offer your location to them if they need your help.

What’s Next

In the next few issues of Tracker Tips, we will continue to discuss other topics that can promote more money-saving ideas. For a sample of how Tracker’s unique operational management and forecasting tools can help your business prepare for a successful financial future, call us at (719) 592-0878 or send an e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . Feel free to forward this Tracker Tips e-newsletter to friends, family, or business acquaintances. We welcome anyone to our mailing list, so invite colleagues to send their e-mail addresses to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .