Cut Costs – But Then Keep the Savings!
As a small business owner you try to save money, but often you end up spending the money you saved on another part of the business. If you want to sell your business, you need to use the saved money to increase a Seller’s Discretionary Earnings appropriate category.
What’s the best way to lower your expenses? That depends on your business. Below are 21 different ways that small business owners have cut their expenses. Just keep in mind that however you lower your expenses, you need to take at least some of that savings and put it towards increasing your SDE.
Small businesses are being constantly squeezed by increases in expenses, so controlling costs is more important than ever. The following will show you how you can reduce your business costs and improve your bottom line. – via 10 Ways to Cut Business Costs
Increasing sales requires a lot of planning, strategy and moving pieces to fall in line, but reducing your company’s expenses is something you can do very easily – all it takes is a little bit of time. Here are eight ways to reduce your expenses, resulting in a larger bottom line. – via 8 Ways to Reduce Your Company’s Expenses
Cost cutting is arguably the easiest way to improve the profitability of your startup venture. Introducing a systematic cost-control method can result in immediate savings. At the same time, it would ensure competitive profit margins in the longer run.- via 3 Effective Ways to Reduce Operational Costs for Your Small Business