Beginners Guide to fixed and variable costs

A Beginners Guide to Fixed and Variable Costs

As a cost reduction consultant, I often get asked about the difference between fixed and variable costs. If you are a business owner, it’s important to understand not only the differences between the two but also the implications of managing each type of cost. There can be hidden costs in your business that are fixed or variable, and while it’s good to get both types of costs down where appropriate, they may need two very different approaches. [Read more…]

Why hire a cost reduction consultant?

Why hire a cost reduction consultant

We often get asked about the benefits of hiring a business cost reduction consultant. We may be biased but we believe that to get the most out of a cost reduction programme, it is well worth hiring a specialist in cost reductions. Yes, you can do some things yourself but with specialist knowledge of current trends, you may find yourself saving even more. As our fee is based on a percentage of what we can save you, there’s nothing to lose by instructing us, either as an add-on to what you’re already doing, or to do the whole job.

Here are three good reasons why we think hiring a professional cost reduction consultant makes sense [Read more…]

Cost Reduction in Business: Recruitment and Staff Retention

How to reduce the cost of recruitment

If you hire people to work in your business then you’ll know how expensive it can get – not only on their wage but also on holidays, in-work perks, ongoing training and development, and bonuses. That’s once they’re on board; getting good staff to join your company can also prove to be a costly exercise. But that’s not to say it’s not worth it because hiring on the cheap could impact negatively on both your company’s future productivity and its profitability. [Read more…]