Managing overhead costs to increase competitiveness
Running your dream business often requires sacrifice. As the old adage goes, "Rome wasn't built in a day," and your organization is no exception. While young tech-starts up can dominate the news with stories of explosive growth, these instances are few and far between. In the majority of cases, success is the result of long days of dedicated work with an eye for saving resources whenever possible.
This is most often accomplished by ensuring that staff size is lean, and that existing talent is both productive and can wear multiple hats at the organization. However, there are several other areas where organizations can cut costs that are frequently overlooked.
For many industries, joining an association or alliance can result in discount pricing on certain goods. For instance, a young attorney can seek out national insurance organizations that provide special offers and reduced rates.
Cell phone costs can also prove a strain on many organizations' finances. Owners should ensure that all employees are under a single provider to simplify billing and take advantage of in-network discounts. It is also importantly to regularly audit bills to avoid any fraudulent charges.
Finally, it is worth considering abandoning expensive office leases and facility costs entirely by switching to a virtual office solution. On Point Executive Center offers companies a cost-effective means to take their business into the digital age, without sacrificing image or productivity. With the cost of office space in Tampa inflating rapidly, On Point's virtual office services and Tampa meeting rooms provide organizations an opportunity to drastically reduce overhead costs while take advantage of our shared services to boost competitiveness.