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…]