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It takes some serious belt-tightening to strengthen your business if your sales are down, your customers have disappeared and you're dipping into personal savings to meet the payroll. Here are some practical, easy cost-cutting strategies to consider:
* Rent unused space and office equipment to another business owner who needs it. You should be able to charge $20 to $35 an hour to rent a desk, computer, printer, phone or support services to a needy entrepreneur. Advertise in your local paper.
We rent our conference room after hours to a therapist who meets with clients in our offices.
* Lock the office supply cabinet. Put a moratorium on buying all but essential supplies. Ask employees to dig through their desks, briefcases and pencil jars to use what they have on hand. Make use of all those …