Vertus’ Post

Do you want to know why I'm drinking coffee through a straw and how I found more time on my hands to strategize on improving small businesses? With my "extra time," I've been diving deep into Cost Reduction Strategies for Savvy Small-Business Owners. Find out why I wrote my latest blog post, "The Art of Pinching Pennies: Cost Reduction Strategies for Savvy Small-Business Owners." In it, I share practical tips to help you keep more of your hard-earned money where it belongs: in your pocket. Curious about these cost-saving strategies? 👉 Read the full blog post here: https://lnkd.in/eZiTWxTx Here’s a sneak peek at what you’ll find: •    How to audit your expenses •    The art of negotiating with suppliers •    Embracing eco-friendly practices to save money •    Smart outsourcing and technology use •    And much more! If you're ready to save big without compromising on quality, click the link above to dive into the full article. Feeling inspired but not sure where to start?  Visit me online to set up a free 30-minute Discovery Call. Let’s strategize a cost reduction plan tailored to your business, so you can make saving money fun and rewarding—because every penny saved is a step closer to business success!  

Limited Time Only: Boost Your Profits with These Business Saving Hacks Here are some tips to consider: 1) Optimizing Costs: a) Track and Analyze Spending: Understanding where your money goes is crucial for identifying areas to cut back. Categorize your expenses and track them regularly. b) Renegotiate with Vendors:Don't be afraid to renegotiate your rates with suppliers, service providers, and even your landlord. Be prepared to show your value as a customer and research competitor pricing. c) Review Subscriptions and Memberships:Regularly audit your subscriptions and memberships for unused services. Consider consolidating services or opting for free alternatives. 2) Smarter Spending: a) Embrace Technology:Utilize free or low-cost software for tasks like accounting, project management, and communication. Explore free marketing tools and social media for brand building. b) Go Paperless:Reduce paper usage by storing documents electronically and utilizing e-signatures. This saves on printing, storage, and filing costs. c) Negotiate Everything:Don't be afraid to negotiate for better prices on everything from office supplies to equipment rentals. 3) Focus on Efficiency: a) Reduce Waste:Analyze your processes to identify areas where waste occurs. This could be material waste, excess inventory, or inefficient use of employee time. b) Evaluate Meetings:Are all your meetings necessary? Set clear agendas and invite only essential participants. Consider alternatives like video conferencing or project management tools. c) Invest in Employee Efficiency: Provide proper training and resources to empower employees to work efficiently. Additional Strategies: a) Consider a Shared Workspace:Shared office spaces can provide the necessary amenities without the high cost of traditional leases. b) Leverage Remote Work:A remote or hybrid work model can reduce overhead costs associated with office space and utilities. c) Build Customer Loyalty: Loyal customers provide repeat business and reduce marketing costs. Focus on excellent customer service and building relationships. It's about being smart with your resources and finding ways to operate more efficiently. "If you found this post helpful, give it a t𝐡𝐮𝐦𝐛𝐬 𝐮𝐩, 𝐂𝐨𝐦𝐦𝐞𝐧𝐭 , 𝐟𝐨𝐥𝐥𝐨𝐰 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 it with a friend!" #business #entrepreneur #finance

I found this an interesting read and whichever side of the fence you sit, the importance of delivering businesses with solutions that allows them to make the best choice for their needs has never been more important.

Running a business efficiently means keeping an eye on your operating costs. Implementing these strategies can help you achieve greater efficiency and profitability. Start today and watch your savings grow! https://lnkd.in/gv-FNAfE Visit our website and elevate your work experience with Capital Workspaces #CoworkingCommunity ##BusinessTips #CostReduction #BusinessGrowth #SmartBusiness #JoinCapitalWorkspaces

Business Process Solutions - Streamline Your Business for Success! Make Your Business Work Smarter 🚀 In today's fast-paced business world, time is precious. Our Business Process Solutions are here to help you run your operations like a well-oiled machine, supercharging your productivity and making things smoother. ✅ Get Rid of Wasted Time: Redesign how you work to eliminate things that slow you down. ✅ Work Smarter, Not Harder: Give your team the power to focus on what counts. ✅ Use Data for Better Choices: Make clever decisions by using data wisely. ✅ Save Money: See your costs drop as you stop wasting resources. ✅ Be Flexible: Easily adjust to changes as your business grows. Our Business Process Solutions will make your business more efficient and shine even brighter! Back Office Outsourcing Services - Simplify Your Business Let Us Handle the Complex Stuff 🌐 Your back office is like the engine room of your business. Let us handle the tricky parts so you can focus on what's most important. Our Back Office Outsourcing Services are your ticket to getting things done more efficiently and saving money. 🔒 Trust and Safety: We'll take good care of your data and keep it secure. 📈 Make Things Easier: Streamline your processes to work better and faster. 💡 Tap into Expertise: Get help from experts without having to learn everything yourself. 🌎 Go Global: Outsource work across different places and time zones. 💰 Save Money: Watch your costs and profits go down. With our Back Office Outsourcing Services, your business is ready for success. Let us do the heavy lifting so you can focus on what truly matters - your core business goals.

Saving costs made simple! 💰 In our blog, we’re revealing some of the best ways to save costs as a business. Read more below. https://bit.ly/3S3FoqK #CostSavings #UKbusiness #CoEmployment

The business world's most expensive and wasteful habit is costing your company £000s every single day. 💡I've developed a method to help you track and control this. ⬇️ Every type of cost or investment in business comes with a meticulous process of budgeting and approvals. Except for the most important one. ⏱️ Time. Anyone can schedule a meeting, invite as many people as they like Even make it a recurring meeting, every week into perpetuity! But no one is thinking about the value of time being sunk into these meetings. 😰 There is no sign-off or approval process controlling this carefree consumption of a company's most precious resource. There are some apps and calendar extensions that calculate the time cost of meetings. ❌ But they woefully under-appreciate the value of the time. They use an hourly rate for each person, based on their salaries, and multiply it by the time of the meeting. This does not capture the true and full cost. We should instead use the opportunity cost: i.e. what value could an hour of each person's time create? You need to think about how each team or person contributes value to the business, and how this can be quantified in financial terms. I've created a simple method that any business can apply to all of their staff to provide an approximation of opportunity cost for each person's time. Once you understand the true value of time being sunk into meetings, you can start to control it and ensure it is being invested wisely. First, you need to be able to calculate it. ⬇️ Here is my 5-step method that any company can use: = = = = = 1️⃣ Calculate each employee's % share of total staff costs > to do this, you'll need to take annual salaries and add in all employment expenses, such as taxes and pension contributions paid by the company 2️⃣ Apply this percentage against gross profit for the year > forecast for the current year is best but you can also use the previous full year, or last 12 months 3️⃣ This figure gives you an approximation for the value that each person create in an annual basis 4️⃣Divide by the number of working hours in a year > e.g. 40hr per week x 46 working weeks, assuming 30 days paid annual leave, including public holidays 5️⃣ This gives you an approximate opportunity cost per hour > this should be significantly higher than an hourly rate based solely upon salary > it is a more appropriate figure to inform decision making = = = = = #FinanceHacks #TimeManagement #Leadership #ValueOfTime #Productivity #OpportunityCost

💡 Grow Your Business with Smart Money Saving Strategies 💡 Every penny counts when it comes to growing your business. Implementing smart money-saving strategies can help you maximize your resources and fuel sustainable growth. Here are some effective ways to save money without compromising on quality: 1️⃣ Automate Routine Tasks: Utilize automation tools to handle repetitive tasks such as invoicing, payroll, and email marketing. This not only saves time but also reduces the risk of human error and cuts down on labor costs. 2️⃣ Negotiate with Vendors: Don’t be afraid to negotiate better terms with your suppliers. Building strong relationships and exploring bulk purchase options can lead to significant cost savings. 3️⃣ Embrace Remote Work: Offering remote work options can reduce overhead costs associated with office space, utilities, and commuting. Plus, it can increase employee satisfaction and productivity. 4️⃣ Optimize Marketing Spend: Focus on cost-effective marketing strategies like social media marketing, content marketing, and SEO. These methods often provide a higher ROI compared to traditional advertising. 5️⃣ Go Green: Implement energy-saving practices such as using energy-efficient lighting and equipment. Not only will you save on utility bills, but you'll also contribute to a sustainable environment. 6️⃣ Outsource Non-Core Activities: Outsource tasks that are not central to your business operations, such as IT support, accounting, or HR functions. This allows you to focus on core business activities while reducing costs. 7️⃣ Leverage Free Tools: Take advantage of free or low-cost tools and software for project management, communication, and collaboration. Many high-quality solutions are available without hefty price tags. 8️⃣ Review Expenses Regularly: Conduct regular expense audits to identify and eliminate unnecessary costs. Look for subscriptions, services, or products that are no longer providing value and cut them out. 9️⃣ Encourage Bulk Buying: Purchase supplies in bulk to benefit from discounts and reduce the frequency of orders. This can lead to significant savings over time. 10️⃣ Train Employees In-House: Invest in training programs for your employees to develop their skills internally rather than outsourcing. This can save money and enhance your team’s capabilities. Implementing these strategies can help you manage your finances more effectively and ensure your business has the resources it needs to grow. Remember, saving smartly is just as important as earning more! 🔍 Interested in more money-saving tips to grow your business? Let’s connect and explore innovative strategies tailored to your needs! #BusinessGrowth #MoneySaving #Entrepreneurship #CostEfficiency #SmartSpending

Learn how the right payments partner can help you with work-life balance -- using integrated tools to streamline payment acceptance, manage your business, secure your data, and more.

Learn how the right payments partner can help you with work-life balance -- using integrated tools to streamline payment acceptance, manage your business, secure your data, and more.