“It’s more important than ever for small businesses to be savvy and cut costs wherever they can.” Stefan Töpfer, CEO Winweb.com
When is a good time to start cutting costs? Is it best to ignore costs when your business is riding high? Or should you wait until the signals are clear that demand has fallen before you begin the necessary cost-cutting analysis? This post explores four cost-cutting strategies that are being deployed by companies all around the world, small businesses, and your competitors.
As a small business owner you can follow their lead to boost your profits as well. There is no one-size-fits-all approach. But one of the key themes in this research is to not wait until the ship is sinking before plugging your profit leaks.
Written by Donna Marie Thompson, PhD. To read the full article, click here. Premier Business Network™ provides Guaranteed Benefits for Small Businesses™. Feel free to join the conversation about small business benefits at #pbnbenefits. For more small business tips or to become a member, visit our website at www.premierbusinessnetwork.com, and follow us everywhere @pbnbenefits.