Hi friends,
I wish to give you 2 gifts today…
… just to say thanks for being a loyal subscriber.
1. The first is a $10 credit at Kogan.com.
‘With over 30,000 products across tech, homewares, fashion and outdoors, including incredible deals on brands like Apple, Samsung, LG & Sheridan, you’ll see why Kogan.com is Australia’s Premier Shopping Destination.’
Just click on the link here to access: www.Kogan.com/au/r/6NHEC9/
2. The second is a valuable business lesson related to #1 above.
So Why The Gifts Today?
Well, I’ve personally used Kogan Mobile to slash our mobile phone bills over the past year by about 81%!
Check out the link above and see the incredible mobile plans they offer, compared to the major carriers…
… and the funny part is, they use a major carrier network!
Anyway, it was a timely reminder of a Special Report I wrote back in 2009.
It was called “13 Quick Cash Generating Techniques For Any Business in Tough Times”.
It works even better in good times, and today I’d like to share with you technique number #1 below.
Regardless of whether you have your own business, you are an employee, or you are doing one of our strategies, it pays great dividends to apply.
#1. A Dollar Saved Is A Dollar Earned! Slash Your Operating Costs.
One of the main reasons businesses suffer in a so-called ‘downturn’ is that they simply get too fat, happy and lazy in good times. This not only squanders potential profits that could have been stored up for use as a buffer in tough times but also makes the whole operation heavy, slow to react and less profitable.
If you could slash your operating costs without reducing your quality, that money would instantly show up on your bottom line. Since you’ve already earned the income, now it’s a job of keeping more of it for yourself, and minimising your costs and expenses is the fastest way to increase your return on investment.
These days with deregulation, new technology, serviced offices, factory direct wholesalers, the internet and a global market, there’s almost nothing you can’t get cheaper and better than you currently do. For example:
Phones: Try Kogan for mobiles or use Skype/Zoom/Telegram. For a low, monthly, flat-fee you get unlimited calls to landlines worldwide.
Internet: Search online for ‘Australian internet providers’ and see what comes up. You’d be amazed at the variety of options and deals available.
Go Mobile: With a laptop, website, mobile broadband and mobile phone, you can be completely mobile, and eliminate fixed and hardwired lines, reduce or eliminate rents and improve your lifestyle at the same time.
Rent: Ask your landlord for a rent reduction or look for cheaper premises.
Stock: Research industry product suppliers online and search for wholesalers all over the world. Attend tradeshows in China and India or even become an importer yourself, supplying your own business and others for profit.
Printing: I’ll bet you can slash your printing costs instantly just by doing a quick search online for ‘cheap printing’.
Outsource Services: We live in a global economy, and these days you can outsource all manner of things like graphic design, web design, writing and answering message services. You name it; it can be outsourced to highly competent professionals for just dollars an hour. Try these:
www.Airtasker.com
www.Upwork.com
www.Fiverr.com
www.Freelancer.com
www.Guru.com
Staff: Eliminate unnecessary or unproductive staff. I’ve found being ‘slow to hire and quick to fire’ is a good motto for business owners. Make sure you have the right people in the right roles and eliminate unproductive and emotionally draining staff without delay. Avoid hiring new staff whenever possible and look to outsource jobs via the internet. Hiring your own Virtual Assistant (VA) can save you tens of thousands in staff costs and deliver a higher quality performance.
Suggestion: Get a print out of your Profit and Loss statement, identify every expense category and then systematically go through every expense you have and examine ways to reduce it.
Repeat this process every 6–12 months…
Once this is complete, you can then fully focus all your attention on what I call Dollar Productive Behaviours.
More on that next time…
To Your Success.
