sasster0129
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there are several things you can do. besides the obvious employee cutbacks, you can also try switching utility companies. there are now several choices for phone, internet, etc, and they can save you thousands of dollars a year. also, depending on your field of work you can investigate other shipping carriers.
basically, just shop around! find creative ways to increase sales, awareness, etc!
there are also tons of loans available for small businesses. |
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The Foosaaaah
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Salary. |
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purplek
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The first area to get cut is in workers. |
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BubbaGump
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Always gotta watch the bottom line. If you are tracking your expenses, you will probably find that labor is your largest cost (in service anyway). A common way to boost profitability is to trim labor costs without losing cash flow. So har dto say without knowing the type of business.
You can also try to find a way to make your processes/materials cheaper without compromising quality.
If you can procure coathangers at a penny each instead of 2 cents each, (in the dry cleaning buiness) you might see a pretty nice return. Look for high unit expenditure and see if you can squeeze some savings there.
You can also try some creative finance to secure cheaper loans, renegotiate leases (you have a three year lease at 5000 per month). Talk to the landlord, and if it makes sense, see if you can get a break by committing to a longer lease (with the same escalation terms) but with a lower monthly cost (certainty for retail space folks in some markets is better than an extra 100 bucks per month). You could also try bartering with some suppliers...using the dry cleaning example - free dry cleaning for a cleaning service company's uniforms (10 uniforms per week = about 20 bucks per month in cost, but 120 bucks retail) in exchange for them cleaning your shop twice per month...you get the idea. |
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tobak
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If you need to do a cutback is because you are restructuring your business, that is, you are changing you business strategy. This change also means a change in the culture of your company. I recomend you to reorganize your company structure, get rid of the process that are not really necessary in the new strategy or the ones that can be outsorced. Regarding people, get rid of the ones that do not fit within the new culture the company need. |
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Neodiogenes
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Benefits and perks. And discretionary spending. |
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photoguy1967
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I would fire anyone who is on the internet asking questions on Yahoo. |
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fire_music_bk
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Productivity, Salaries, and expenses. |
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randyrandola
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If you're an accountant, they cut back the employees first. They wouldn't touch their salary though...
They should focus on increasing sales and making it easier for the customer to do business with you. But once again, that is too far outside the scope of any accountant. And most business owners won't face up to that. |
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bassfish
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Alot of these answers are good, but one other way is focus on your safety if you are into some kind of construction or maintenance. Make employees take OSHA courses, get good equipment, this will lower insurance a great deal and one accident can set you back alot. |
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rosanamod
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If a machine can do it, you're fired. |
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amaga
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Try to lower salaries. Renegotiate with employees but don´t downsize. You have to search for problems and try to solve them with your employees as a group. |
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TrojanPegleg0905
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if you're small enough you really can't fire anyone. I'd say try to be more efficient. maybe scale back some employees hours if possible. Go for the cheaper benefits plans. You don't want to completely abondon your workers with firings and total loss of benefits, but everyone may need to make some sacrifice. |
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chris_rudek
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if you drive ide cut back on driving. also, you can try fundraisers. maybe a picnic here and there. try cutting back on peoples benefits, but in turn you're going to have to do somthing to make up for that, occational work party or somthing that will still keep them happy.... good luck either way |
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hey_bull_dog1977
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Staff, that's always the first cut. |
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