Business Profits - Could Your Electric Bill Help?

The late Milton Friedman was one of the greatest economic minds in history. It was Friedman who coined the term a business’ number one priority is to earn a profit. Most people understand this. After all, a business that is not profitable will not be operational for long. However, most people look at profits from a narrow perspective. That is, they see profits exclusively in the form of revenues. This, however, is not completely the case. Profits are how much you have earned over your expenditures. That means a business can increase its profits by reducing its expenditures. And, without a doubt, the biggest expenditure drain a business often deals with is energy costs. That is why it is critical to cut back on energy costs if you wish you business to remain profitable.

Thankfully, there are a number of easy ways to do this.

Don’t overuse wattage in your light bulbs. Many lights utilize bulbs are far higher in wattage than needed. Purchasing smaller watt bulbs or even changing out incandescent bulbs with LED or flourescent light bulbs would cut energy costs dramatically. Now, some may say LED and flourescent lights are expensive. While they do cost more than traditional bulbs, they last a LOT longer and require less electricity. As such, they eventually pay for themselves.

Putting energy consuming products on a timer is a good way to make sure that lights and computers are not left on after hours. It is shocking how much money a business loses do to employees leaving electrical items on when they leave work on Friday. However, if these devices are on a timer and shut off automatically, this problem can be circumvented. Most timers are also inexpensive and easy to install and they can be integrated into any office environment.

Insulating a building is a very common way to cut down on expenses. It costs a lot of money to heat and cool an office and when air is escaping due to poor insulation then it is escaping needlessly. Insulating an office is not an expensive proposition and, like most energy efficient lights, insulating ultimately pays for itself over time.

Having an energy audit could prove quite helpful. There are professionals who can examine a building and assess any problems with electrical energy expenditures. Of course, once these problems are revealed proper steps can be made to correct such flaws. You cannot undervalue the great benefits these professionals offer and that is why procuring their services is so highly recommended.

Lowering your electricity rate - You didn't think I'd write a blog post without throwing a plug to our services did you? Many businesses simply need to login to ChooseEnergy.com and request a lower rate for their business. This can have an immediate and dramtic impact on the overall electric bill.

In addition to saving a great deal of money for your business, there is an ancillary benefit as well. Namely, your business will be contributing greatly to the environment. By taking part in energy conservation, our natural resources will not be depleted at an accelerated rate. This connects to Milton Friedman’s assertion that the greatest social justice a company can perform is earning a profit. In this particular instance, boosting profits by cutting energy expenditures creates the ancillary effect of a cleaner environment. Any company that contributes to such a cause truly is deserved of acclaim. Why not let your business be among these companies?