Going, Going, Gone!

How to reduce your business expenses on electronics.

I just got a new LCD 19" Monitor a few months ago (high cotton, I know right!) I spent about $229 for this little beauty and I felt so good about it.  This past week when I was browsing at the local electronics’ store with my kids I was mortified. 

I saw on display, not the same exact monitor, but a BETTER 19" LCD monitor than the one I purchased in November for $139!  That was a 27% discount in price for a BETTER monitor.

So here are a few tips to reduce your business expenses on your electronic purchases.

1. Wait – wait as long as you can till the electronic is absolutely necessary.  This is your absolute best strategy to getting the best deal on electronics. 

2. Is the item absolutely necessary?  Does the electronic make you more productive?  Does the electronic increase revenue?  Wait as long as you can till you are almost loosing revenue by not having it.

3. Reduce the number of bells and whistles the gadget has.  Get the bare bones of what you need.  I know a company that just purchased 30 GPS units which had an MP3 player option that would play through the car speakers.  This option, that none of the sales people used, added an extra $89 to the price per unit.  The company purchased 30 GPS units.  This was an extra $2670 wasted.  Make sure that every feature will be used or try to eliminate that particular feature.

I have seen a similar issue with getting “wireless” printers.  Wireless is fine but only if the feature is absolutely needed.  For instance, the cost of installing an Ethernet line is greater than the upgrade price for “wireless.”

4. If you only need one or two of the items you can look on www.Craigslist.org.

5. If you need larger quantities look at getting refurbished items.  I have found that refurbished items are just as reliable as new (of course, every now and then you get a lemon).  The discounts on refurbished items can be up to 45% off new.  The only difference with a refurbished item is there are sometimes cosmetic blemishes on the casing and the manufacturer’s warranty is only for 90 days instead of a full 12 months.  You can usually get up to 10 refurbished items at a time. 

As a final note, always decide what your organization really needs before you start buying. 

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