This may sound overly simplified, but the bottom line to any business’s profitability is increasing revenues and decreasing expenses. Marc Freedman, the author of the bestseller Expense to Profit, helps companies identify those hidden costs in their business and reduce overall expenses to keep more of their revenues. In a way, he exhumes expenses to help clients get extraordinary profits. But Marc’s work isn’t always about finding cheaper vendors. It’s all about what brings the most revenue and the most value for the business. In this conversation with Rob Cornilles, Marc describes how his diverse team of industry experts finds the best solutions for different clients and how the consultancy makes money from that service. Do you think you have an expense in your business that you’re not too sure you’re getting the most of? Chances are you do, so listen in to this episode and learn how Marc and his team can help you.
The global pandemic changed the way businesses operate and how we see life. In the heat of the pandemic, a lot of businesses closed temporarily. A whopping 60% of closed businesses will not be opening, according to Yelp. Production lines have been regrettably cut. In spite of it all, others adopted emerging techniques and sometimes a "new normal" to stay afloat.
Running a business is a hectic experience. Do not let anyone tell you otherwise. From the start, actualization, and daily operations, every step of the way is filled with hurdles and common mistakes. Some of which, you would have to plan to scale across.
Our CEO, Marc Freedman, joins Celinda Hawkins and JR Williams on Newstalk KXYL to discuss how to cut costs and save money in the new year.
Every business starts with the vision to provide value for customers and make profits from that venture. More often than not, this vision—this purpose—is somewhat lost in the midst of all the strategies to usher in a new product or service to her faithful customers and entice new ones.
The pandemic has changed a lot of the ways the entire world functions businesses have had to adjust how they operate, to keep customers safe. Now, with vaccines and tried many businesses are preparing for life, post pandemic with the changes businesses have made to survive could have a lasting impact especially on other industries, who will need to adjust again in a post pandemic world lot going on to talk more about that.
Your first question is most likely, “How can I possibly grow my business using monthly credit card processing fees that eat into my profit?” The answer is simple… by eliminating them.
No one was strategically prepared for what 2020 had to offer. Many heavyweights in the B2B and B2C world had outlined business plans. Everyone was thinking about thumping the competition. 2020 had something sinister waiting for us all; Coronavirus. Which led to unexpected winners and losers in the business world.
Being a CEO or employer of labor is hard work. Every passing day business owners face HR issues that may be too complex to take on your own. As issues pile up, you may be focusing a significant amount of time on HR. Wouldn’t it be nice to have a professional HR provider that will take care of employee-related challenges? Wouldn’t it be a relief knowing that a team of experts is managing your workforce in an efficient manner? This team of experts that can provide these benefits are called Professional Employer Organizations (PEOs).
Why Tackle Expense Reduction? If you have owned a business for any length of time, you know that it comes with the freedom to run things YOUR way and on YOUR time. However, in the quest for that freedom, many business owners are focused almost exclusively on generating revenue. Most would say that without fresh revenue coming into the business, the business fails. The correct answer is to reduce expenses without changing anything that you are currently doing.