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Ask the Entrepreneurs: 9 Ways to Keep Bills Down in the Summer Months

Ask the Entrepreneurs: 9 Ways to Keep Bills Down in the Summer Months

Ask The Entrepreneurs is a regular series where members of the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives, whether in a area of management, communication, business or life in general.

Here’s the question posed in this edition of Ask The Entrepreneurs:

How do you keep office bills down in the summer months?

1. Keep the Temperature Comfortable

Maren Hogan

    We have the benefit of having a small space to heat and cool, but those bills still come, and it’s always nice if that number is small. But at the end of the day, employees are more productive when they aren’t bundled up or sweating through their shirts. In the summer, we keep it cool and keep working. We all know how frustrating it is to be uncomfortable. It’s a perfectly avoidable situation.

    Maren Hogan, Red Branch Media

    2. Wear T-Shirts and Shorts

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    Matt ehrlichman

      The biggest expense next to rent is HVAC. Porch gives our employees flexibility to dress for their comfort, which generally means no one is boiling in button-up shirts and wool slacks. To enforce it, when I don’t have external meetings, I lead by example and wear my favorite pair of shorts!

      Matt Ehrlichman, Porch

      3. Rotate Fans Clockwise

      Andrew Schrage

        During the summer, fans should rotate clockwise. Also, offering more telecommuting opportunities for your staff during the summer helps, as fewer staff members at the office means reduced energy bills. Requesting an energy audit from your provider can also help you find other ways to reduce energy costs.

        Andrew Schrage, Money Crashers Personal Finance

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        4. Provide in-Office Beer

        Robert J. Moore

          We keep a dual-tap kegerator in our company kitchen that is always stocked with high-quality beer. This means that most company “outings” take place in the office, which allows team bonding to happen more often while keeping bar tabs low.

          Robert J. Moore, RJMetrics

          5. Have Summer Fridays

          Brittany Hodak

            Celebrating “Summer Fridays” — letting your employees work half-day Fridays between Memorial Day and Labor Day — is a great way to boost morale and job satisfaction while trimming your summertime office cooling hours by 10 percent! Motivated employees will work harder on Friday mornings to ensure they’re ready to go home by lunch, and you’ll save cooling costs without sacrificing workplace productivity.

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            Brittany Hodak, ‘ZinePak

            6. Run a Virtual Company Year-Round

            Chuck Cohn

              If you run a virtual company year-round, you never have to worry about office bills. Save the money that you might spend on office space, and pass along the savings to your customers. If you can provide the best product and the lowest price, your company will do well.

              Chuck Cohn, Varsity Tutors

              7. Designate a Day to Work From Home

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              Andrew Saladino

                To save on operational costs, we select a few days each month in the summer that we all work from home. It gives employees the chance to run errands and get personal things done, and we save money on utility bills and other costs since the office is closed.

                Andrew Saladino, Just Bath Vanities

                8. Have a Three-Day Office Week

                Allow employees to work from home on Mondays and Fridays. It greatly reduces our overall electricity bills during the hot summer months.

                Jeff Wright, Phusion Projects LLC

                9. Quote the Oracle

                Sam Saxton

                  Whenever I read about some company undertaking a cost-cutting program, I know it’s not a company that really knows what costs are about. The really good manager does not wake up in the morning and say “I’m going to cut costs today” any more than he wakes up and decides to start breathing.

                  Sam Saxton, Salter Spiral Stair and Mylen Stairs

                  More by this author

                  9 No-Brainer Ways to Track Employee Time Ask the Entrepreneurs: 12 Things Entrepreneurs Should Stop Doing Ask the Entrepreneurs: 9 Best Note Taking Tools Ask the Entrepreneurs: 12 Tips for Mastering Public Speaking Ask the Entrepreneurs: 9 Tasks You Should be Outsourcing

                  Trending in Money

                  1 How to Develop a Millionaire Mindset in 6 Simple Steps 2 How to Eat Healthy on a Budget (The Definitive Guide) 3 9 Millionaire Success Habits That Will Inspire Your Life 4 Top 5 Spending Tracker Apps to Manage Your Budget Smart in 2020 5 How to Set Financial Goals and Actually Meet Them

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                  Last Updated on January 21, 2020

                  How to Develop a Millionaire Mindset in 6 Simple Steps

                  How to Develop a Millionaire Mindset in 6 Simple Steps

                  We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

                  It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

                  How do you go about developing that millionaire mindset? By following these simple steps:

                  1. Focus On What You Want – And Take It!

                  So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

                  Millionaires play to win, not to avoid defeat.

                  This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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                  2. Become Goal-Orientated

                  It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

                  Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

                  Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

                  Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

                  You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

                  If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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                  If you are to become a millionaire, you need to start accumulating money.

                  Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

                  3. Don’t Spend Your Money – Invest It

                  The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

                  Stop working for your money and make your money work for you.

                  Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

                  There’s not just the stock market — there’s also property, and your own education.

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                  4. Never Stop Learning

                  The best thing you can invest in is yourself.

                  Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

                  Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

                  Learn everything you can about how economics works, how the stocks markets work, how they trend.

                  Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

                  Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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                  5. Think Big

                  While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

                  There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

                  Aim for the stars, if you fail you’ll still be over the moon.

                  6. Enjoy the Attention

                  To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

                  Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

                  If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

                  Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

                  More About Thinking Smart

                  Featured photo credit: Austin Distel via unsplash.com

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