Tightening your biz belt? Here’s where to start

Even the largest corporation tries to keep costs down. And you’re no large corporation – you’re a dinky business in an austerity-fuelled culture.

Times are tight, purses are light and small to medium enterprises are tightening their belts to ride the wave of government attempts to reduce the deficit. And they’re coming up with plenty of solutions to cover their losses.

Indeed, savvy companies understand that wide-scale changes aren’t necessary in most financial snafus. Instead, what’s needed are long-term, low-cost budgeting solutions.

So what can you do to make sure you don’t go under? For a start, try a few of these tips.

Prices that deliver!

If you’re a mail order company, sending packages will be one of your major overheads. And if you don’t find a cheap provider, you might as well kiss your profits goodbye.

But sending parcels overseas doesn’t have to cost an arm and a leg, especially when the internet provides plenty of alternatives.

Simply head online to a price comparison site and you’ll find a mailing company that can handle bulk deliveries at a low rate.

The best price comparison sites will only give you prices from trusted mailing outlets, so you never need to worry where that parcel is headed once it’s been sent.

If you’re in the green, consider adding special features for your customers’ deliveries, such as recorded delivery or real time parcel tracking. As long as they’re able to fork out for it, you should be able to provide it.

Make everyone pull their weight

Employees are a huge yet necessary drain on resources. They’re keeping your business running – but the dead weight has to go.

When you’ve got a small company, everyone has to be willing to pull their weight. Set up Key Performance Indicators (KPIs) that will track you workers’ progress and let you know when someone’s lagging behind.

Don’t fire anyone straight away, obviously. But if someone seems to be lacking purpose in your office, it’s time to give them a metaphorical kick up the jacksie and set them on the straight and narrow.

Revaluate your customers

Have your efforts to sell your products to moody teenagers been in vain? Then it’s time to change things up.

Some companies simply don’t understand their target demographic. While they believe their product is for super-hip beard owners in Camden, their main customers are blue-haired grannies who love nothing more than a cup of tea and an old western film on the telly.

Make sure you don’t fall into this trap. Assess and reassess your customer base regularly and you’ll always know where to aim to stay in the pink.

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