Current and prospective college students might not fully understand just how much a college degree is going to cost them, but recent college graduates sure do. According to recent studies, the average student graduates with about $24,000 dollars worth of student loan debt, and Americans are now in more debt due to student loans than […]
Cutting Costs
Alternatives to Layoffs
In times of economic crisis, many businesses find themselves facing the possibility of layoffs. They reason that the majority of their expenditures are in payroll, so logically, payroll should be the first area to face reductions. There are, however, hidden costs to layoffs, including severance packages and potential legal fees, as well as the future […]
Saving Money on Office Supplies
Companies are always searching for ways to save money, but drastic cost cutting measures should never be your first course of action. Instead, look to the little things to see how your business can become more financially responsible. Obviously, rationing pencils is not going single-handedly bring your business out of debt, but you’d be surprised […]
Cheap Marketing for Your Business
Nearly every business knows deep within that marketing is an essential component of its overall success. However, in today’s economy, few businesses are willing to spend large amounts of money on any budget breaking marketing campaigns. But because marketing is one of the only things that keeps your business connected with your customers, it should […]
Is Technology Replacing Business Travel?
With increasing prices for airfare, baggage handling, fuel, and hotel rates, many business associates are looking for ways to reduce their travel costs. In fact, according to the National Business Travel Association’s 2009 Forecast, 81% of travel buyers feel that technology is replacing business travel. It is obvious that with options such as teleconferencing and […]
Saving Money on Postage (Part 2)
With businesses nationwide becoming ever more concerned about their expenditures, companies in all industries are looking for ways to cut costs. But with the many hidden long term costs of layoffs, it benefits most companies to look for alternatives before resorting to cutting personnel. One such money-saving alternative is to become smarter about postage. Many […]
Integrate Automated Interactive Voice Systems Into Your Business Without Aggravating Customers
Although Interactive Voice Response (IVR) systems were originally created to increase efficiency, improve customer satisfaction, and save the business money, many customers have found that the IVR systems are mazes that are, in reality, time consuming and frustrating. Benefits of IVR Systems What exactly are the benefits of using an IVR system? Companies from small […]
Reduce Hidden Fees and Charges By Looking at Your Business Phone Bill
We’ve all seen the commercial questioning viewers “Have you looked at your phone bill lately?” Unfortunately, many business owners are either too busy or don’t care enough to sit down and sort through a detailed phone bill. However, your business phone bill may be hiding charges that are costing your business thousands of dollars each […]
How to Succeed Amidst Decreasing Profits
Although the National Bureau of Economic Research has declared that the most recent recession was officially over in June 2009, many American business owners still remain haunted by financial instability. Economic experts warn that the 18-month recession, the longest since post-World War II, will have lingering effects. The recovery from such a significant downturn may […]
How to Introduce Cost Cutting Measures Without Causing Employee Panic
There comes a time in every business when cost cutting measures must be implemented. There may be a decline in the economy, a new competitor may open up down the street, or you may simply be looking for ways to reduce your monthly expenditures. Now more than ever businesses are looking for ways to cut […]
How to Save Money on Business Postage
Although business owners have found numerous other places to cut costs, postage and shipping fees are one area that business owners have little control over. Sending out mail or packages is a necessary aspect of business for a majority of companies. However, for some, the rising cost of postage has them searching for cost cutting […]
Are Money Saving Measures Creating Travel Nightmares for Your Employees?
Many business associates are finding that the cost saving measures their company is implementing are actually creating travel nightmares for them. While the company may save $100 on a flight, the employee may be forced to fly at odd hours. The company may save $35, but the employee is forced to stuff his clothing (suit […]
Cutting Costs Without Cutting Jobs
During times of economic uncertainty and hardship, companies often reflexively resort to layoffs and downsizing to quickly cut costs and stay afloat, usually without realizing the very real and potentially high costs of reducing their workforce. Layoffs are useful in some circumstances and a natural part of the business cycle, but they bring their own […]
Saving Money By Importing Raw Materials
Maintaining competivity for your company while increasing your profit margin can only be accomplished if you are constantly on the lookout for innovative ways to save money while still producing a quality product. One way a business can save a great deal of money is to purchase their raw materials internationally. However, many business owners […]