As an entrepreneur, January always struck me as a bad time to cut expenses, since to my mind, the start of a new year should correspond with new plans, fresh campaigns, and spending for growth.
Mid-year, on the other hand, seems an auspicious time to cut the fat. You have six months of operating data to look back on and six months ahead to reap the rewards of any course correction. If you think your business might benefit from some cost-cutting — and you don’t wnat to lay off anyone — consider these categories:
Capital expenses:
Jennifer Moxley, vice president at Nomadic Communications in Charlotte, turns to second-hand hardware for her video production company. “We buy refurbished electronics. Hard drives, laptops, our desktops, and especially our specific media gear. In our mind, it’s like buying a new car – sometimes you lose lots of money just driving off the lot.” Moxley scans government sales as well as sites such as GoIndustry DoveBid and MacMall.
Comments are closed.