SHIFT Tactic #2 Re-Margin Your Business - Expense Management. To shift is to change. Gary Keller talks about when the market shifts, the first change a business must make is 're-expense' itself. Since the market has shifted, there are less profit out there, but that does not mean that we can't keep the same profit margin. In order to keep the same profit margin, we must CUT the business expenses, clever and swiftly.
I thought about our business and our business expenses after reading this chapter, here are some tips that I find in our own business that may be helpful for other small business owners:
- Phone bills, If you are a frequent cell phone user, perhaps you should check on your minutes usage to see if you have alway use the minutes that your cell phone has offer. If you pay for 2,000 minutes, how many minutes are left in the month? Out of those minutes, how many minutes are actually business phone call instead of calling your friends or family members to chit chat? Try to change your plans to fewer minutes perhaps a 900 minutes plan and see how that works out for you. Important phone calls can be made from a landline instead of calling clients while you are driving or walking down the street. Another option can be using SKYPE phone calls, SKYPE is a neat program that you call worldwide if you have a SKYPE account and they offer pre-paid service and it is as low as 2 cents per minute dialing landlines. (check SKYPE.com for specifics).
- Copy Machine and Printers, do you print out everything that comes in your email? Or do you see what is important before you print? Nowdays everyone has a printer or a copy machine because they are so affordable, but the cartridge replacement is very expensive. Think about the last few things you have print, were they neccessary? Not only it is environmental friendly to think twice before you print out a flyer or an email, it is also economical and you can save few dollars of your business expenses.
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