Go mining for profit that might be lying dormant all around you…
Reducing your costs is a reliable trail towards better profit. When taking this trail, you should look at all of your costs, and start with the largest first.
Typically, this will include:
Building Lease
Your Team
Cost of Goods Sold
For many small businesses, these will be the top three cost centers.
You’re not going to slash those expenses out completely, but you might have more wiggle room than you think.
Saving a small percentage of a big expense is worth more than trying to save on a bunch of small expenses – so focus on the primary ones first and foremost.
You don’t need to be a financial expert. Just take a look at your most recent bank statement and question everything.
Onward and upward,Simon Trask
(I’m a small business owner, advisor, and advocate – learn more here)
Simon is author and founder of Profit Hiker: 11 Trails to gain lasting elevation in your business. Find the book right here and the program over there.
Powered by beehiiv
