Cost Reduction Archives | Expense To Profit

The Common Mistakes Businesses Are Making Today and How to Fix Them

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. That is not to say you will not make a couple of mistakes as your business becomes operational. Startups, SMEs, and even major heavyweights in the commercial industry have made minor or costly mistakes of their own. Most of these mistakes are quite common, in fact. Many businesses have made such mistakes and are still prone

The Common Mistakes Businesses Are Making Today and How to Fix Them2021-01-11T10:26:34-05:00

Why Expense To Profit? It’s Simple.

“Profit is like oxygen, food, water, and blood for the body; they are not the point of life, but without them, there is no life.” – James C. Collins, Author, Researcher, Business Management Consultant. 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. But as much as these businesses struggle to stay ahead of the lurking competition, expenses and costs

Why Expense To Profit? It’s Simple.2021-01-04T15:35:13-05:00

How to Grow Your Business Using Monthly Credit Card Processing Fees

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. Traditionally, business owners have been stuck paying high processing fees while their customers earn points, rewards or miles. In addition, processing fees have gone up as more customers are choosing to use their debit cards over cash. Having been in the payment solutions industry for 20 years, I know how business owners are constantly bombarded with promises of lower fees and better rates, and you just don’t know who

How to Grow Your Business Using Monthly Credit Card Processing Fees2020-12-21T15:45:05-05:00

2020 Business Winners and Losers Post COVID-19

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. Did you feel that little shiver down your spine? Businesses did, and most of them in a bad way. The pandemic struck hard on global economies. As soon as the lockdowns began businesses took a nosedive and consumer spending significantly reduced. The effects on our economy and ways of life

2020 Business Winners and Losers Post COVID-192020-12-14T10:07:55-05:00

Expense to Profit: Eliminate the Costs That Sabotage Your Growth

“Expense to Profit: Eliminate The Costs That Sabotage Your Growth” by Marc Freedman helps successful business owners that want to grow their business. 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. Revenue is certainly important, but if that revenue is overtaken by the added expense of adding

Expense to Profit: Eliminate the Costs That Sabotage Your Growth2020-12-01T09:34:14-05:00

How to Reduce Non-Personnel Related Payroll Costs

No business is ever set up to crash in the long run. That is why many business executives are embarking on strategies to improve profits. Over time, this comes at a price; increased overhead cost and higher payroll expenses. Coupled with economic meltdowns, this can pose a financial burden. Without a doubt, one of the most surefire ways to generate enough funds to infuse them into other aspects of your business is to reduce payroll costs. When it comes to reducing payroll expenses, typical solutions can include cutting staff, redundancies, downsizing, and so on. But when you let your experienced

How to Reduce Non-Personnel Related Payroll Costs2020-11-23T10:57:01-05:00

Top Strategies to Reduce Overhead Costs

If there’s one thing that holds for businesses, it’s that to make money, you have to spend money. However, it doesn’t necessarily mean spending it aimlessly, especially since there are areas where you can cut back. One such area is overhead costs. Without proper planning, you will sooner find out that these costs can quickly drain your revenues. We have prepared this guide to help you reduce overhead costs by a considerable margin with little to no risks. Here are the top strategies we recommend so you can reduce your overhead costs for good: Hire an Accountant Hiring an accountant

Top Strategies to Reduce Overhead Costs2020-11-16T11:06:22-05:00