When working with businesses we are regularly asked 2 major questions:
- How do we get more revenue?
- How do we reduce our costs?
On the questions of cost reduction, we emphasise the need to focus on ensuring your business’ processes and procedures are efficient and effective.
Cutting costs for the sake of saving a few dollars can be disastrous for the business.
Saving costs through:
- Removing unnecessary processes;
- Streamlining the processes that are important; and/or
- Outsourcing relevant processes…..
…..can make a significant difference to your bottom line.
How do you start?
Well, we suggest that you get the key people in your team together and identify and map out all of the significant processes in your business.
With this information you can then work through them systematically identifying which, if any, of the 3 options noted above can be applied.
By working through this exercise in a planned way, you will increase your chances of finding real savings for your business.