If your dollars aren’t stretching as far as they used to, chances are you’ve allowed “budget creep” to infiltrate your company’s resources. Here’s how to eliminate that problem — fast!
But first: last time we discussed how to increase your margins by taking a premium price position, negotiating lower costs from manufacturers, and watching your inventory more closely. I told you that if there’s ONE THING you could do to immediately improve your revenue, it was increase your prices.
Did you do it?
If not — if you’re worried your clients won’t be able to “handle” it — then do yourself a favor. Pick up the phone and call me RIGHT NOW. I’ll help you do it in such a way that your business skyrockets without the negative consequences: +48 602 635 003.
Today, let’s address another issue that negatively impacts your bottom line: UNNECESSARY EXPENSES.
You see, the bigger your business is, and the more people, projects, and activities you’re managing at a time, the more difficult it can be to ensure that your money is working hard for you!
If you’re like most business owners, the big dollar expenditures get your attention as you go, but smaller spends — those nickels, dimes, and quarters — can slip unnoticed under the radar. And that accumulates faster than you think.
In fact, I’ve found that plugging the leaks in your cash flow can easily add 10% or more to your bottom line. So it’s time to pay attention to those small expenses and save yourself big-time money.
Here’s how to do it…
1. Change the way you think about overhead expenditures. What I’m about to say may constitute a radical shift in the way you think about your business, but I’ve seen it free up tens or even hundreds of thousands of dollars in my clients’ companies each year. Here it is:
There is no such thing as a “cost of doing business.”
Yep, you read that right. If you’re running your business correctly, “overhead expenditures” do not exist!
As Peter Drucker says, a business exists to do two things and two things only: GET AND KEEP CLIENTS. That means you need to treat each expenditure as if it were an investment…because it is.
Next time I’ll show you four more ways to cut unnecessary expenses. Until then, think about your overhead expenditures and how they may need changed!
To your success,
Eytan Dahan
www.eytandahan.com
P.S. If you want help cutting costs, I’ll personally review them with you if you call me at +48 602 635 003 (this is my direct line).