Every Rand saved in cutting costs goes straight to your bottom line. But how far can you go in cutting costs before it hurts your business? What steps could you take today to introduce a tactical plan for cutting away unnecessary expenses?
When I was growing up I was amazed at how my grandparents would live frugally. My grandmother would fold up plastic bags and stash them away in the draw, keep yoga cups and never waste even one single slice of bread. My grandparents had lived through the Second World War and had known times when everything including money was scarce. Continue reading “How can you cut costs to the bone without harming your business?”
Finding uses for products can help to open new markets. For an aspiring entrepreneur or small business owner an interesting task is to take your product or service idea and generate a number of uses for it. Stretch your imagination. Don’t censor your ideas. You may come up with one that could give your product a whole new market – and a whole new life.
Take colas, for example They started out as a medicinal drink and then became a soft drink. Yet people still use colas for some interesting purposes such as for meat tenderising and cleaning battery connections.
Speaking about car batteries, while their primary use is for starting cars, people use their 12 V batteries for powering house lighting, radios, television sets and camping equipment.