Tuesday we talked about 7 ways to cut costs.
That’s important but not the only path to profit.
Do you know anyone who cut their way to profitability?
Me either. We have to build revenue at the same time.
Here are 7 ways we identified at the NNA convention.
1. Increase revenue with "football season only" subscriptions.
2. Allow subscribers to renew at today’s rate before a price hike.
3. Promote local coverage to increase subscription sales.
4. Give graduates online subscriptions sponsored by local banks.
5. Give free online military subscriptions with family discounts.
6. Discount subscriptions to teachers and school staff.
7. Called lapsed subscribers to encourage them to renew.
For the other six revenue builders please email me.
To leave a tip of your own, please click on comment below
For more on building revenue and profit, click here.
Thursday, October 8, 2009
Tuesday, October 6, 2009
Cut costs but not your throat
In this economy, every dime we save goes to the bottom line.
Whether it’s personal or business, cutting costs pays.
We identified 13 ways to cut costs at the NNA convention.
Here are seven of them.
1. Eliminate all slackers. They drag us down.
We put up with them when the economy was strong.
We can’t now. Bite the bullet. Get rid of them.
2. Share their work. We still have to get the work done.
Divide the slackers’ work among the remaining staff.
3. Challenge all costs. Where can we get better deals?
What can we live without? What can we reduce?
4. Set cost goals. Offer 25% of savings to your staff.
That’s a powerful incentive for everyone to watch costs.
5. Negotiate health insurance rates.
In this economy, even insurers are cutting deals.
Get comparative rates and benefits then decide.
6. Look for a buying co-op. Every industry has one.
Check with your industry’s professional association.
7. Partner with a non-profit. Their volunteers can help.
Not high skill jobs but they take pressure off the rest of you.
Offer the non-profit 50% of what their volunteers save you.
For the other six cost saving tips, please email me.
To leave a tip of your own, please click on comment below
Thursday we’ll discuss building revenues and profit.
For more on cutting costs but not your throat, click here.
For my Business Tip of the Week video, please click here.
Whether it’s personal or business, cutting costs pays.
We identified 13 ways to cut costs at the NNA convention.
Here are seven of them.
1. Eliminate all slackers. They drag us down.
We put up with them when the economy was strong.
We can’t now. Bite the bullet. Get rid of them.
2. Share their work. We still have to get the work done.
Divide the slackers’ work among the remaining staff.
3. Challenge all costs. Where can we get better deals?
What can we live without? What can we reduce?
4. Set cost goals. Offer 25% of savings to your staff.
That’s a powerful incentive for everyone to watch costs.
5. Negotiate health insurance rates.
In this economy, even insurers are cutting deals.
Get comparative rates and benefits then decide.
6. Look for a buying co-op. Every industry has one.
Check with your industry’s professional association.
7. Partner with a non-profit. Their volunteers can help.
Not high skill jobs but they take pressure off the rest of you.
Offer the non-profit 50% of what their volunteers save you.
For the other six cost saving tips, please email me.
To leave a tip of your own, please click on comment below
Thursday we’ll discuss building revenues and profit.
For more on cutting costs but not your throat, click here.
For my Business Tip of the Week video, please click here.
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