by | Feb 16, 2016 | Business Profit & Cash Flow Tips, Cost Cutting, Small Business Owners
Many times I will review a client’s income statement and discover that they increased their sales but had a higher cost of goods sold percentage, resulting in lower profits. The first and most obvious thing to look at is the product prices. Have they increased...
by | Feb 2, 2016 | Business Profit & Cash Flow Tips, Cost Cutting, Small Business Owners
Increasing sales is important to any profit enhancement plan. But cost reduction cannot be left out. If you are operating on a 10 percent net profit margin, a $1 cost reduction is equal to a $10 increase in sales. To achieve lower costs you should...
by | Jan 26, 2016 | Cash Flow, Cost Cutting, Personal financial planning
Getting the very best exchange rate might not be top priority when you are exchanging your vacation money for the local currency, but if the value of the transfer is substantial, a poor rate can mean losing literally thousands of dollars. One of the main reasons for...
by | Jan 15, 2016 | Business Profit & Cash Flow Tips, Cash Flow, Cost Cutting, Small Business Owners
The barter system of yore is making a comeback for organizations looking to save money—and still get the goods and services needed. With bartering, you can trade your organization’s products or services for those of another company. No money exchanged. All you have to...
by | Jan 12, 2016 | Business Profit & Cash Flow Tips, Cost Cutting, Small Business Owners
If you are a business owner, you will need to hire an attorney sooner or later. It could be for contract work, mergers and acquisitions, or lawsuits. Legal fees are expensive and can add up quick. Here are 10 tips for reducing them. Document every...
by | Dec 9, 2015 | Business Profit & Cash Flow Tips, Business Success Series, Cost Cutting, Small Business Owners
Complacency kills more businesses than just about anything else. I recognize it when a business owner says, “We’re doing alright.” Or “I’m working harder and making less!” When I push, they say that they are doing what they always have done and what is...
