20 June 2008

Why You Shouldn’t Decrease Expenses THIS Way

Filed under: Personal, Tips & Advice, Wisdom — launchpad @ 10:26 am

The last post I was talking about 3 ways to grow a business, and it doesn’t take a rocket scientist to know that decreasing expenses the WRONG way can thwart your business growth. Let’s take a look.

What expenses should NOT decrease?

Expenses that are necessary for your business to function normally, like the stationery you use, the shipping costs you pay, the packaging of the product to protect it, and even the salaries you pay your staff.

You don’t cut corners on these expenses. And if I may add, it’s ridiculous to even consider the last point - cutting salaries of your staff.

WHY NOT?
In doing so, it may be very “logical” to reduce expenses, but at the same time, you are also decreasing productivity and efficiency!

Productivity and efficiency = how fast you get to your results or desired outcome.

Why would you want to do that and move like a slow mo??

What costs should you decrease?

Costs like, delayed shipping or lost shipment, firing a non-contributing staff or one that slows down the productivity of others!

In fact, pay MORE just so that you can get your shipments to the destination ON TIME, ON TARGET (geographically).

Pay MORE just so that you can hire more productive and contributing staff.

Pay MORE to get the results you want. Cut down on the unnecessary expenses that slow down your business or eat into your productivity!

Are you cutting your corners right?


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