Small Business Multiplier – Module 11: Cost Reduction

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This page allows you to preview Module 11 of the Small business multiplier. Module 11 is different from the other modules in the programme so far, in that it does not focus on increasing the amount of revenue your business is making – instead, we’re going to talk about reducing your operational costs. Your profit will increase if your business generates less cost, so let’s have a look at some effective cost-reducing techniques.

The module video is shown below, and below that a link to a preview version of the module PDF. If you have any questions about this preview, click here to get in touch via our contact page.

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Hello again.

Now we're going to look at the fourth lever of the Small Business Multiplier which is all about helping you to reduce your operational costs.

Candidly this is harder in some respects than generating new clients or prospects, but something that you have to incorporate as part of the mix of activities, and something you have to do in parallel to attracting and converting new prospective clients or customers.

There are 8 ideas that we'll look at in this module and each of them are things that you can do in a practical sense.

One of the things I want to focus on is the concept of outsourcing that we'll explore in more detail in this module. I'm a great believer in outsourcing things that aren't your primary business. So, if they are things that you can do or have done for you that aren't core business activities, then you should really consider outsourcing them to an expert; particularly if they can be done on a more cost effective basis.

We operate in a global economy so there are outsourcers available to help you in all corners of the globe, although it’s not always a case of sending the work to India or other far flung geographies.

As we go through this module we'll look at some really practical ideas and maybe some new ideas that you haven't thought of, all focused on reducing your operating costs as a percentage of your total sales.

At the end of the module, you'll be able to devise your own simple actionable cost reduction plan that you can put into effect immediately.

So, have a look at what's in this module. Hopefully, you'll find a few things you can apply in a practical way.

See you again in a couple of weeks.