Three Tactics to Lower Overheads
July 29, 2021
Part 2 is here!
Last episode we gave an overview of the three levers of profit.
Today, we're diving deeper into the 1st lever, to give you tangible tactics for reducing your overhead costs.
Most businesses we talk to struggle with this area the most...
It's really easy to get your overheads out of balance, without even realizing it.
It happens slowly over time, and before you know it you have so much capital tied up, it's paralyzing.
When we began to focus on this area at Seven Sons, we were able to free-up over a million dollars in working capital, which allowed us to redirect capital to growth generating activities
It's easy to think of reducing cost as a defensive or "last resort" type strategy, but when you're proactive this becomes a huge offensive strategy.
So if growth is your goal as well, check out the video!
Another major benefit of lowering your overheads is that it often frees up valuable time as well.
And when your time can be freed up and redirected to higher-value activities, good things happen.