Three Tips for Reducing Your Small Business’ Everyday Operating Costs

When it comes to improving your business’s profitability you have three choices: Sell more, increase your prices or cut your costs. Put that way, it sounds like a statement of the glaringly obvious, but it is surprising how many businesses focus like mad on the first to while paying very little attention to the third.

Cutting costs for increasing profitability

Here, we take a look at three areas every business should focus on that will help them get the optimum bangs for every buck.

1. Automate your processes

The technological world moves quickly, and any business with established internal procedures is liable to stand still and be left behind.…

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How Virtual Offices Can Help You Win the Cost Cutting Game

A virtual office offers benefits to businesses of all sizes, including small startups and large corporations looking to expand operations into new areas. The fact is that in the era of digital, there’s no reason to rent, furnish and maintain an expensive office location, when a virtual office offers all the advantages at a fraction of the cost.

Virtual office

A virtual office gives you a professional address to put on your business card; a place to receive mail, faxes, and even receive visitors; and a facility that’s open for you, your colleagues, and clients to conduct meetings in at your convenience.

Other advantages like virtual answering service and access to virtual assistants for pressing projects means you can, for instance, work in rural Thailand while maintaining your business’s headquarters on Bay Street in Toronto, or Silicon Valley in San Francisco.…

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Simple Ways to Cut on Business HR Costs

Every single department in a company now has to trim as many expenses as possible in order to increase organization overall value. HR departments are not an exception. Curbing expenses with human resources is normally a difficulty because this is usually not something that was needed in the past. Many CEOs have no idea what to do.

Cutting costs

The following methods presented by Productiv Inc should help out most CEOs that are having troubles reducing costs for HR departments.

Consider A New Healthcare Provider

Besides the fact that you can look at plan costs when you shop around, you can also analyze different ways to reduce the program expense in the first place or employee premiums.…

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3 Ways to Cut Upfront Costs When Starting a Business

Starting your very own new business is an exciting time, but what isn’t so enjoyable is working out how you’re going to pay for everything that you need to get things going. It can cost thousands and thousands in the beginning to get everything up and running as you want, and then all of this will need to be made back later when you’re actually making money.

Cutting startup costs

Ultimately, the less you can spend on getting things going, the better. You’ll earn profits sooner, and things won’t be as difficult in the beginning, as you won’t need as much cash. Here are three cost-cutting tips you should follow when starting up a business:

Be Tight With Your Money

The first point is obvious really.…

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