5 Practical Ways to Cut Costs and Improve Profit Margins

A business can exist in three financial stages – the business can be operating at a loss, it might be breaking even, and it might be booking profits sustainably. The ideal financial state for a business is to be profitable consistently and sustainably, that’s the only way to ensure that the business will survive and thrive. However, many businesses are only barely making a profit because operational expenses often eat too deeply into their margins.

Financial analysis

This post provides insight into five ways you can cut costs to improve your margins.

Rethink your office space needs

You can start cutting your business expenses by reviewing your office space needs to know how much of an office space you really need.…

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The XaaS Model for Small Businesses – Produce More with Less Costs

Software-as-a-Service (SaaS) enabled access to software services over the Internet on a subscription model. Platform as a Service (PaaS) made available the software and hardware tools needed to develop and deploy applications. Infrastructure as a Service (IaaS) allowed companies to access operating, storage and networking systems on demand.

XaaS

These services were a boon to organisations in terms of cost savings, ready access to software and a lot more. But now comes in the X factor. The XaaS, or Everything as a Service.

The Incredible X Factor

Lesley MacDonald, Programs Manager at Dell EMC explains what XaaS is: “From its early origins of software-as-a-service (SaaS), the cloud-based on-demand services category has evolved into anything- and everything-as-a-service that isn’t nailed to the floor.…

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Improve the Five Key Areas of Business with These Resources

There is a limited skill pool for most small businesses due to financial restrictions and lack of talent options from the immediate area. Yet, these barriers break through the clever use of online resources, products, and services.

Improving business

It allows a business to operate on a large scale without undertaking the complexities of a corporation. Consider the following to encourage success within the main operations.

Education & Training

There are numerous (free and paid) educational portals and training options online:

  • One could learn six sigma traits to improve their managerial abilities
  • Take a course to keep up with the growing tech demands on Udemy
  • Attend a workshop to get hands-on experience with new skills

Education and training should be at the forefront of the day-to-day operations to keep workers skilled and up-to-date with changes in the industry & marketplace.…

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Why Your Business Must Go For Direct Outreach

There are a couple of reasons why businesses are moving away from direct outreach towards more passive, yet highly effective, inbound marketing strategies. Firstly, direct outreach is invasive – you could be reaching out to a prospect while they are busy. You are not only likely to get an unfavorable response in this scenario, but are also likely to come across as a spammer. Secondly, direct outreach is bound by a number of FTC regulations and laws like CAN-SPAM and a tiny slip up could mean fines worth thousands of dollars.

Direct mails

But direct outreach works. There are a number of statistics online that claim that cold calling is dead.…

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5 Mistakes to Avoid When Renting Office Space

Choosing the location of your company is important because it determines the visibility of your business. The decision also determines the profitability of your business because of the monthly rent costs.

Office building

Business owners often make major mistakes when choosing their first office space. The excitement of starting a business often gets in the way of making a sound judgment on such important matters.

If you are about to start a business or move your current business to a new location, here are the common mistakes you should avoid at all costs.

1. Compromising your business image

It is possible to consider all other aspects of an office space and forget the image of your business.…

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5 Ways to Automate Your Business Marketing

You probably already about the oncoming robot revolution. Within a few decades, the global economy could be transformed by a swathe of new robots that take away millions of jobs and infuse the world with unimaginable efficiency.

Marketing automation

What you don’t know about this robot revolution is that in a subtle way robots are already here and they’re changing business right now. The most obvious use of automation and artificial intelligence is in business marketing. If you’ve ever read about online marketing or watched SEO: The Movie, you already know that this is a numbers game where efficiency and consistency are highly valued.…

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4 Ways to Create a Paperless Workplace

There has been a steep fall in paper consumption in the workplace over the past decade. The average office worker in the United Kingdom consumes around 45 pieces of paper per day. This is five pieces lower per worker per day compared to what it was in 2008. In absolute terms though, the drop in overall consumption is still a blip in the radar and we have a long way to go when it comes to creating a paperless workplace.

Digital signature

One reason why businesses consume paper in such large quantities is because legal documents continue to be handled and shared physically.…

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Accidents When Traveling on Business: Protection Basics

You’re traveling for business, your eyes veer from the road for just a moment, and all of a sudden “bam.” You’ve crashed into the vehicle ahead of you, and your vehicle is damaged. The person driving the other vehicle may also be injured.

Car accident

A million questions are running through your mind:

  • Will your business’s insurance cover the damage?
  • Will your insurance cover the damages?

The first and most important thing a person can do is call the police to have a sworn statement made, so the insurance company has a detailed statement of the events leading to the accident. If possible, you should also take photos of the accident scene as well as the damage your vehicle sustained.…

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Improve Your Life as a CEO With These Tools

CEO

You made it to the top! You’re CEO, king of the castle and master of your domain. Somehow, this means even more work. Improve your life as a CEO with the tools below to stay organized and successful.

RescueTime

RescueTime screenshot

As CEO, your time is valuable, and you need to be careful how you spend it. You don’t have the luxury of wasting time on inconsequential tasks, and if you find yourself at the end of the day wondering where all your time went, RescueTime is the solution to your problems.

RescueTime is an application you install on your Windows or Mac desktop, and it monitors everything you do on your computer.…

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Hiring a VA-certified Veterans Disability Attorney

You need to hire a qualified veterans disability lawyer if you want a discharge upgrade or to appeal for denial of compensation. If you choose to apply for veterans disability through Veterans Affair department, the process could take a very long time to complete, which can be frustrating. However, hiring an attorney to guide you through this maze can save you a lot of stress and trouble.

Veterans disability lawyer

Although a lawyer cannot expedite the VA claim process, having him/her by your side could increase the benefits to which you are entitled. You need the representation of a lawyer because with the assistance of one, you can navigate the complex laws and regulations, which are often difficult to comprehend and change quickly.…

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