Las Vegas Small Business Cost Reduction
PROFIT depends on Cost of Doing Business. Cost Reduction is a must for higher profits.
Small Business and Startup always don’t know they may need Cost Reduction and/or when a Cost problem may “pop up”. But when need arises, it is better for Small Business and Startup to go to the known and qualified solutions providers.
There are many ways to reduce fixed and variable cost per unit:
- Lower Labor Cost – Automate repetitive processes
- Outsourcing to lower cost countries like India, China.
- Do Product and Process Innovation continuously
- Remove obsolete products and services, replace them with new ones
- Implement new technologies like robotics, IT, Communications, etc.
- Better procurement of parts with lower prices
- Higher efficiencies – Manufacturing, Services, etc.
- Lower capital cost – Refinance, Stop borrowing, lower Credit Card debt, etc.
- Higher Productivity = Cost / Process Step
- Smart Employees = Educated, Trained, Experienced, Knowledgeable
- Pass cost on to Customers i.e. let customer do things you do in-house
- Reduce distribution cost
- Go Online