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How to reduce your operating costs

Discussion in 'Start-ups & Business Advice' started by Warwick Sale, Oct 4, 2017.

  1. Warwick Sale

    Warwick Sale

    Joined:
    Nov 3, 2015
    Messages:
    1
    Hi, so thought I would start a post to discuss one of my tried and tested methods to increase profits - by cutting costs. Reducing your costs is the best way to increase your profits, as you can make your price's more competitive whilst keeping your margins up.
    One of the best ways to get lower costs, is by increasing the size of your orders - so the larger the orders the lower the individual costs..

    What are your thoughts? How does everyone reduce their individual unit costs?

    Thanks,
  2. Srialto

    Srialto

    Joined:
    Jun 7, 2017
    Messages:
    22
    Hello Warwick, I am agree with you that by cutting cost we can increase profit. Here i share some methods-
    1. To Minimize Premises cost
    2. Hire Freelancers and contract employees
    3. Use Technology
    4. Remain Flexible
    5. Keeps employees happy
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