Tips for reducing costs in the company

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You may be spending more than you should on your website, emails, and hosting. Reevaluate your spending and learn how to reduce costs in your company (without going overboard).
Reducing costs in a company is a way to ensure healthy financial management during periods of low revenue. In addition, the tactic of cutting costs helps to increase the chances of achieving positive balances at the end of each month.

According to the Doing Business report carried out in 2020, opening a company in Brazil costs an average of R$1,388.77 (average cost in São Paulo and Rio de Janeiro). And even if everything is done properly, profit and stability are not guaranteed.

Data from Serasa , in fact, points to an increase in romania number dataset for judicial recovery and bankruptcy in 2020. Therefore, it is the right time to think about the financial health of your business and formulate methods to save money.

Therefore, I decided to bring you the main tips for planning and analyzing the general costs of your business. This way, you will be able to understand the financial functioning of the company and guide it towards favorable results. You will see:

How to analyze your spending notebook
How to reduce costs in the company
Questions and answers about expense cuts
And how it is possible to reduce costs with website, email and hosting
Let's go!

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Index

Know your spending notebook
How to reduce costs in the company
1. Reevaluate internet and telephone services
2. Use free specialized services for email accounts
3. Try partnerships and exchanges
4. Establish the practice of working from home
5. Save on your electricity bills
6. Analyze your website's ROI
7. Check stock and direct production
8. Replace overtime with a time bank system
9. Renegotiate debts
10. Online sales
11. Choose digital banks
12. Throw away disposable items
13. Retire the printers
14. Check website hosting costs
15. Look for finance management software
Bonus: Set a good example by cutting costs
Save with your online business
Revision
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Know your spending notebook
First of all, understand that costs and expenses are different things. Expenses are essential expenses (such as electricity and salaries), while costs include the amounts spent on services and products that facilitate work, coexistence and improve or organize the business environment.

Understandably, it’s much easier to cut costs than expenses, but you can save on both as long as you can differentiate between them and understand where the money is going. To do this, find out the answers to the following questions:

What are the expenses in all the expense and cost books? (List everything! From the electricity bill to the cleaning and hygiene products for the bathrooms, if applicable).
Now, what are the essential expenses? (Those without which the company cannot produce. This list includes salaries, electricity/water/internet bills and suppliers, for example).
What are the non-essential costs? (For example: use of paper or services that are more expensive than necessary, such as telephone plans, etc.).
How can we reduce essential and non-essential expenses, and what are the impacts? (This is when we tend to tremble at our foundations, as this is when we need to think about the alternatives and necessary changes).
Finally, which sectors are affected by the reduction? (Remember that complaints may arise if one sector is affected by the cost reduction while others are not. This can cause friction between sector leaders).
Never skip the part about knowing your company's expenses. It may seem obvious, but most (if not all) mistakes made when trying to contain or reduce business expenses are due to a lack of understanding of the financial nature of the business.