- How to obtain the best telecom contracts, pricing, terms & conditions. The Answer is here –
Todd Talks Expense Reduction
- “When in doubt, go without.”
This really applies to every business regardless of size. Should you actually make that purchase? Do you truly need to replace something? Think it through instead of just going for something larger or newer. Use what you have until you are certain you need something else.
- Stay on top of your accounting.
When money is tight, things like late fees on bills or a client who doesn’t pay on time can be a huge problem. Pay your bills on the due date, and take time to ensure that your collections are on time and that the outstanding balances are minimized.
- Use online sites for printing.
How much are you over spending on Business Printing?
If you’re headed to big box stores to print any marketing materials, you’re probably dealing with steep markups. Rather than paying high prices – use online websites. You can save hundreds on marketing and business branding materials by finding less expensive alternatives online.
- Get the most out of Vendor Relationships. Bottom Line Revenue – What’s Missing? Align Terms and Conditions and Increase Profits – Todd Talks https://youtu.be/pHmds9L0vUk
- Save on Shipping Costs
Have your shipping manager constantly check and compare prices on shipping, negotiate better terms, and make sure that they save every penny they can. If you save a few pennies in shipping on each of your products then imagine the SAVINGS over time!
- Does your business really need landlines?
If it’s been a while since you looked at how much you’re spending on phone, utilities, internet service, overnight delivery costs and similar expenses, it could be worth your while to look now. As technology brings new options to small businesses, such as #VoIP, you can cut your costs by finding more affordable services.
If you’re a “solopreneur” or have just a handful of employees who are always on the go, then mobile phones along with Google Talk and/or Skype might be all you need to run your business.
- Check credit card for overlooked recurring charges
How much is overlooking credit cards (with recurring charges) costing your business?
Scour your credit card statements for overlooked recurring charges. You may find monthly fees for rarely used web/online subscriptions. Out of sight, out of mind. Unless you review your statements each month it’s easy to forget that money is going out of your account on a regular basis and you’ll continue to pay for it each month.
9. Why pay for what you don’t need or use? Take it to the cloud and save on monthly business expense.
Cloud Servers and online storage let you pay for what you need, and they allow you to ramp up or down as your business needs change. If you have in-house server, you know they can be costly to maintain and update. Also, if you have a sudden increase in activity, it can be difficult to ramp up to accommodate, short of buying more servers.
Cloud software eliminates the need to keep software updated, install patches and keep it operating—this can reduce costs. You can also eliminate hefty up-front license fees, replacing them with lower monthly costs
For more on how your business can maximize profit and minimize expenses contact us.