Reducing Business Expenses And How We Saved $98,964 Overnight
Reducing Business Expenses By Trimming Overhead Costs
One of the most important aspects of your business is keeping accurate financial records and staying on top of your profit and loss (P&L) statements each month. It’s critical to have great bookkeeping so you can keep track of your business expenses, monitor your overhead costs, and predict cash flow. Having this information is wonderful, but using it to your advantage to increase your profit is even better.
For every new client, or at a minimum once a year with existing clients, we sit down with you and find easy ways to save money instantly. During our exercise, we will list out each vendor, rate how happy you are with their service, and what your current price is with them per month. Depending upon the last time you renegotiated your contracts, there may be some clear cases in which you are drastically overpaying for a service. Many times we find that you are unnecessarily paying for an upgraded package of something that you don’t need in reality. Whether the numbers look big or small, we recommend taking a shot at renegotiating your deal with every vendor or switching to a new provider entirely.
Here is a recent example where we saved a call center $98,964 a year just from a few days of making phone calls and playing hardball with their vendors. This business averages 1.2 million in revenue per month, which means we added 8% profit to their bottom line just by leveraging our existing relationships with trusted vendors and experience. The owners of the company were thrilled! That’s nearly $100,000 that they can use to reinvest into their business or take a profit for themselves.
