Reducing your business costs is one way to improve your company’s profitability and create that little bit extra stability in an uncertain business and economic environment. While rising sales are great, if it also means rising costs, then the extra effort and commitment may turn out to be not worth it to your bottom line.

That’s not to say that going out and cutting your business costs in a ruthless manner is always the best approach. Ruthlessness can be a fantastic tool, but like all tools, it should only be wielded where appropriate. In my vast experience as a cost reduction consultant in the UK, here are three questions you should ask before reducing your business costs. [Read more…]