This relates to cutting down on costs that you can, because in the running of your business, occupational hazards might throw up situations when it becomes imperative upon you to bear some ‘costs’ which might appear exorbitant on the face of it, but is absolutely necessary for you to attract and maintain major clients in the long run.
This relates to cutting down the costs of your business and keeping the most of what you make by avoiding avoidable costs and running your business in a ruthless lean and mean way.
You are required to have staff that matters and do away with ones not bringing any real value to your business, heck, some business consultancy firms don’t even have an office assistant and they are as efficient as it gets.
Without much further, let’s point where we at Econstra Pro on the real costs of running a business.
- When you are travelling overseas after taking a much needed break from your back breaking work, you might need to call back on your email inquiries, something which might cost you a bomb in the long run, but is imperative in case you want to attract and maintain major clients in the long run. Some of these clients might have serious money to spend and must be respected for the same.
- You are required to have two different, separate lines for a phone and a fax machine. It’s efficient that way.
- You are required to travel on a sales enquiry if you see value and it seems like a prudent choice when left to your good judgment. Don’t just cancel out on your travel plan, just because the prospective buyer is not willing to pay upfront. Maximize your visit by setting up more calls in the same state/city/ town.
The client should know where to save money and where to spend money and unless you have a billion dollar war chest you will need to be careful and at times frugal with your money.
You are advised to invest money in things which are imperative and necessary like establishing your marketing weight, efficient equipment, sound infrastructure et al. You need to be frugal while hiring people your business doesn’t really need, and on handouts, reports and manuals.