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How to Use Contractors as Insurance for Staffing Risk Management
Have you ever sat next to a contractor who you knew was making a better hourly rate than you for doing the same job? They have no long term commitment to the company, often less experience than you, and still you know they are being paid a premium fo... 3 Alternatives to Hiring Full Time Staff
It's easy to buy more or less material each month to match the number of orders you have, but how do you quickly turn up and down the amount of labor you pay for when your employees are relying on you for their livelihood? You can't ethically just te... How Top Managers Use Indirect Cost Control Strategies
In addition to the direct costs of inventory and shipping, effective managers also need to understand the indirect costs of production or service delivery. Indirect material and equipment costs are things related to the production and supply of your ... Shipping Cost Savings Goldmine Management Tips
Packaging, shipping and handling costs represent a large portion of variable business costs and are often overlooked by inexperienced planners. As a result in many businesses this presents a fabulous opportunity to make changes that will have an imme... Inventory Cost Control Management Tips
The cost of materials makes up a huge portion of spending in most businesses. Failure to monitor and control those costs can create serious cash flow problems. Conversely having the knowledge and ambition to identify and control big cost areas can ma... Tackling the Cash Flow Problem - Part 3 of 3
In parts 1 and 2 we saw how variable cost control presents a very real and sizeable challenge for most businesses. In our small business example we needed to finance 150% of our monthly profits each month just as a matter of normal business. You can ... Tackling the Cash Flow Problem - Part 2 of 3
In part 1 of this series we laid out a typical cash flow scenario for a small business. The order was a good one with a 40% profit margin, but through the course of production and delivery our company found itself deeply in the red and having to fin... Tackling the Cash Flow Problem - Part 1 of 3
The challenge with variable costs is that they are variable. When your sales go up you need to spend more. When your sales go down you need to spend less. If you are selling more things then you have more money to pay for the parts and labor, or in o... Seeing the Total Cost Picture - Part 2 of 2
The top level of cost allocation is fixed and variable costs. Fixed costs are things your business has to pay for regardless of how much you sell. Variable costs on the other hand are costs associated with creating your products or delivering your se... Seeing the Total Cost Picture - Part 1 of 2
There are only two ways to improve the overall profitability of your business: Bring in more money, and keep more of the money that you do bring in. When it comes to keeping more of the money that you bring in, cost control is the name of the game.Th...
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