You may have noted the change in the format of this newsletter. I’ve made a change to a different provider. It’s part of a process I began last year to really examine my business costs.
I realized that I was paying a premium price for a service I wasn’t nearly coming close to optimizing. While the platform was fine, I was utilizing only about 50% of the capabilities and wasn’t in need of what was being missed. Even though the transition has had come short term “pain” from a labor standpoint, it will ultimately result in at least a 40% reduction in costs without sacrificing any benefit. It’s worth the pain and should have been done long ago.
It’s not about what you make, it’s about what you keep.
I was at an annual meeting of the economic development association in my area and an entrepreneur that was being honored talked about a new $4,000,000 contact her company received. She quickly quipped that she had to remind her employees and family that the net would not be that amount!
Part of a proper business continuity and disaster recovery plan is proper accounting for profitability. New business is hard to acquire; and keeping your best clients takes effort and attention. Allowing your bottom line to drain money when you can control operational costs can be insidious to your success. Any expense that returns and investment (e.g. leadership development and marketing) is a good thing; costs like utilities should be monitored.
Bottom line: your bottom line is a critical part of your profitable growth and business value. Protect it as diligently as you do your property and people.
Quote for the Day:
“Tact is the ability to describe others as they see themselves.”
~ Abraham Lincoln
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