Cost Reduction Tools

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Cost reduction and profit improvement for businesses

Cost Reduction Tools

 

Dear Business Solutions,

I was wondering if you could tell me 3 or 4 different techniques used in both cost control and cost reduction. Any help you could give would be greatly appreciated.

Thank you,

Code name: psychodykes

Dear psychodykes, you’ve written at an opportune moment.  I’ve been burning the midnight oil for the past months to write and polish a powerful new book dedicated to small and mid-sized business profitability.  “Instant Profits: Making Your Business Pay” will be available in electronic book format in mid June. 

“Instant Profits” includes:

bullet Over 235 tools, tips, and shortcuts to increasing profits (revenue, loss and expense)
bullet 60 shortcuts
bullet 60 tools and profit principles with explanations on how to use them
bullet Examples for the application for many of these

Each of the chapters begins with stories of business-people who are trying to get out of financial trouble or increase the value of their businesses.  The chapters conclude with the methods they used and more.

But to answer your question directly, a few of my favorite techniques for cost reduction include the following:

bullet Waste and loss reduction analysis and control
bullet Contribution margin analysis
bullet Zero-base budgeting
bullet Business planning and forecasting
bullet Ratio analysis

Obviously, I would have to know much more about your business to be able to determine which of these or the additional 200+ more in the book will be of use to you.  I am sure some will but I cannot prescribe in the dark.

Since “Instant Profits: Making Your Business Pay” incorporates over three decades of real business success, I highly recommend it to you and anyone else who is in business or wants to be.

Good luck,

Steven C. Martin
Business Solutions – The
Positive Way

Get your costs and bottom line profits under control now

Achieving World-Class Profit Improvement - proven methods for cost reduction and profit improvementInstant Profits: Making Your Business Pay - 250 tools, methods and tips for cost reduction and increased profits57 ideas for cost reductionProfit Improvement Executive Analysis - what you really need to know about cost and profit improvement programs including 6-sigma

 

Cost Reduction & Profit Improvement
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