Added sales, by making every day count, is certainly one important path to follow. But let’s face it, it’s not going to be a “piece of cake” during this current falling economy. Just like you, your competitors have become very efficient and more determined than ever to retain their own market share.
That’s why it’s imperative today to work the other side of the ledger. Give more attention and serious focus to saving cash, getting control of your company’s many costs (both expenses and purchases), because that’s where the real payoff is. Every time your company “saves” a dollar it goes directly to your bottom line.
Your sales dollars must pass through many “filters” before it reaches the bottom line. These filters include such things as rent, insurance, utilities, salaries, benefits, inventory, advertising and marketing, mailing and shipping, telephone, licenses, association dues, office equipment, taxes, legal and professional services, etc. But dollars saved go right to the bottom line!
Ways to save cash and improve your bottom line would include:
If you would like more ideas on how to increase your cash flow and your bottom line, read more articles like this on The Editor’s Choice on the IMS Website. If you want to explore your options a little more, call your IMS Broker today.