Category Archives: Cost Management

7 Ways How SMEs Can Reduce Business Expenses

Amit Sen — December 3, 2017 Follow @amit_kumar_sen — December 3, 2017 Small businesses are usually lean on capital and funding. As per data from Small Business Administration, around 50 percent businesses bite the dust in their 1st year of operation only. Ineffective cost management is one of the crucial reasons behind the alarming rate … Continue reading 7 Ways How SMEs Can Reduce Business Expenses →

Analyzing Overhead Costs is Vital in a Business’ Early Stages

Cost Management

David Kiger — November 17, 2017 Follow @davidkiger — November 17, 2017 When a dream of owning a small business comes into view, the little details likely play a small role, if any. But as a plan comes together, those little details can become big issues. Overhead costs — those fixed expenses that make the … Continue reading Analyzing Overhead Costs is Vital in a Business’ Early Stages →

5 Proven Ways to Cut Costs For Your Small Business

Cost Management

Choncé Maddox — November 6, 2017 QuinceMedia / Pixabay According to Bloomberg, eight out of ten small businesses fail. Some fail because they don’t adequately understand customer needs. Others can’t communicate the value of their products and services. Still, others don’t understand how to promote themselves effectively. Yet, the number one reason businesses … Continue reading 5 Proven Ways to Cut Costs For Your Small Business →

How Businesses Effectively Manage Debt

Cost Management

Robert Gloer — August 14, 2017 Follow @IOUFinancial — August 14, 2017 yemeomee / Pixabay Cash is the fuel that allows your business to operate. With it, you can buy inventory or raw materials, and wait for sluggish receivables to be paid. You can invest in expansion or other opportunities to grow your business, and … Continue reading How Businesses Effectively Manage Debt →

5 Ways To Determine Salary Increases That Work For Your Organization

Cost Management

Paul Keijzer — August 9, 2017 Follow @Paul_Keijzer — August 9, 2017 Alexsander-777 / Pixabay Salary increases are one of the most fundamental part of an organization’s ability to attract and retain talent. It’s a tool used motivate employees, reward commitment and loyalty, and encourage performance that’s beyond the call of duty. Usually organizations review … Continue reading 5 Ways To Determine Salary Increases That Work For Your Organization →

Money Is No Object: The Best Tools for Low Startup Costs

Cost Management

by Yahya Mokhtarzada Follow @YahyaMokhAugust 31, 2016 When we launched our first company in 2001, we needed a server that cost several thousand dollars, expensive software, phone systems, workstations, and fax machines. And that was just to get started — scaling was even pricier. But thanks to technological advancements and the emergence of the software-as-a-service … Continue reading Money Is No Object: The Best Tools for Low Startup Costs →

Tips to Manage the Finances of Your Business

Cost Management

by Steven Scheck Follow @InspireWiFiAugust 7, 2016 Running a business involves a host of responsibilities. Whether you are a seasoned entrepreneur or starting out with an exciting business venture, managing your finances is always a priority. How you manage the finances of your business is as important as the other strategies you implement to lead … Continue reading Tips to Manage the Finances of Your Business →

Cut Costs without Cutting Value

Cost Management

by Zach Heller July 26, 2016 Follow @zhellerJuly 26, 2016 Cost cutting is a necessary part of running a successful business in the long term. When we cut costs intelligently, we make the company more profitable without sacrificing future growth. But often it is difficult to determine what costs we should cut first. In order … Continue reading Cut Costs without Cutting Value →

Why ‘Cost Analysis’ is the Most Important Area of Improvement for Nonprofits

Cost Management

by Mark Courtney June 5, 2016June 5, 2016 As individuals, many of us prefer to focus our energy on one task at a time. It’s a good impulse: Given all of the distractions we face, accomplishing one to-do at a time makes it easier to ensure we actually finish what we start. In the nonprofit … Continue reading Why ‘Cost Analysis’ is the Most Important Area of Improvement for Nonprofits →

5 Ways Small Businesses Can Save on Costs Using Technology

Cost Management

by Maricel Rivera June 4, 2016 Follow @rivera_writesJune 4, 2016 Running a business is no easy feat. And if you’re still starting out, every penny counts. Plan, therefore, to increase revenues, improve operational efficiency, and save money where possible. According to Investopedia.com, there are six main reasons new businesses fail, and too little financing is … Continue reading 5 Ways Small Businesses Can Save on Costs Using Technology →