BETTER BARGAINS: you
can critically consider making good bargains with suppliers, coming up with
different options of people you can work with and eventually going with the one
with the best bargaining condition can help you save a little extra at the end of the day.
RE-EVALUATE YOUR
EXPENSES: re-evaluating your expenses from time to time, getting money for items
that are no longer of use, eliminating expenses that are not necessary for the
work are some of the ways you can reduce your running cost.
CONSIDER OTHER OPTIONS:
there are other options a small business can consider while looking into cost
reduction, coming together with other small businesses to get certain huge
supply benefit is an option, considering discounted products and products on
sales are other ways of saving your business expenses.
RE NEGOTIATIONS: you
could also renegotiate offers and methods of payments with people you have been
in business with in a long time and which you plan sticking with for a long
time. This way the both business benefits from the conditions
BE INNOVATIVE: you can
think of more efficient raw materials or processes to get the job done which
would possibly cut a step in the process or reduce the amount you spend on your
production. This means you are cutting your production cost while you make the
same profit.
Thinking of better ways
to save money while in business is as effective as looking into an increase in
the profitability.