50 Ways To Cut Costs And Increase Profits
1. Buy frequently used products in bulk.
2. Whenever possible, fax it before you discuss
3. Purchase a fax switch and remove the dedicated telephone lone.
4. If you communicate by modem purchase a new one that speeds up communication.
5. Monitor long distance telephone charges - include them in charges to customers or insure that they are included in overhead.
6. Plan now to hire students in the summer or for peak periods.
7. Ensure heating is turned down on week nights and reduced more on weekends.
8. Turn off all unnecessary lights.
9. Have office cleaning staff reduce visits to once every two nights instead of every day.
The Credit System (Part 1)By John J. Hawk, Sr. A few words from the author It's sad but true. A large percentage of Americans suffer from a blemish on their credit ..... 10. Ensure faucets are not leaking.
11. Turn down hot water settings 10-20 degrees.
12. Retrofit toilet reservoirs to use less water per flush.
13. Cut vehicle car washes to half.
14. Ensure that postage for parcels is correct by using weigh scales.
15. Encourage the reuse of newspapers, paper for draft copies, boxes, incoming Styrofoam packing for outgoing packages.
16. Photocopy paper on both sides for client newsletters and other mailings.
17. File taxes on time...consider municipal, provincial, GST, PST and Federal... to avoid penalties.
18. Review subscriptions to newspapers and periodicals to avoid duplications...set up a procedure to distribute single copies.
19. Use reusable interoffice envelopes and re- address rather than use new ones.
20. Increase the deductibles on office business insurance policies.
21. Negotiate for discount vehicle fuel through bulk buying or centralized purchasing.
22. Consolidate credit card outstanding balances with a line of credit to reduce interest charges.
23. Renegotiate your premises lease.
24. Consider refinancing loans at old rates for new, lower rates.
25. Review credit card membership costs and cancel redundant cards.
26. Negotiate better deals on maintenance contracts such as grass cutting, window cleaning, carpet cleaning and uniforms.
27. Entertain at your home or office rather than at restaurants.
28. Encourage customers to pay cash rather than use charge cards.
29. Pay bills that provide discounts on time.
30. Use refillable cartridges for photocopiers or laser printers.
31. Purge old files into cardboard storage boxes to free up space.
32. Review heating methods used to determine if conversion to other fuels, different furnaces or suppliers would reduce costs.
33. Review the effectiveness of advertisement in newspapers, trade magazines or monthly mailers. Is there a more effective, less costly means to ......
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