Daily Breeze:
High overhead costs are dangerous for any business under most economic conditions, but all the more troublesome during tough economic times. Basically, overhead includes all of the expenses not directly related to making your product or delivering your service, and even in the smallest businesses, it tends to grow, slowly and unnoticed, until suddenly your costs seem out of control.
Bloated overhead is a threat to your ability to compete, and perhaps to your very survival. On the flip side, however, a lean operation becomes one of your best competitive weapons.
Keep in mind that cost-creep is often insidious. Your business adds a seemingly minor cost here, and another there. But eliminating costs once you’ve added them is much more difficult.
Consider office space. Do you have more or higher quality space than you need? Moving to different digs might save you a bundle, but it’s inconvenient, so many businesses don’t bother. Keeping overhead under control is also a good reason to stay in a home office a little longer than you were planning.
Here are 8 places your business can look for significant savings.
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Hi, It’s a great thing to think about how we might subtract a little that’s really not needed. It’s just like weight - no one needs belly fat or bloat! Thanks for a timely article.