Controlling expenses is an essential part of running a business. As your small business grows, so naturally will its expenses. It’s entirely possible, though, for your business’s expenses to grow more than they need to (or, worse, more than you can afford).
We interviewed Stephen Riddick, VP of Business Development at CSP, Inc. CSP, Inc. provides IT support Raleigh businesses have trusted for 25 years. Stephen Riddick asks business owners to consider these 5 ways that you can reduce business expenses.
1. Track Existing Expenses
Reducing expenses involves a lot of planning, but before you can plan, you need to establish a baseline. If you’re not tracking expenses meticulously in every department, you need to start. It’s hard, nearly impossible even, to reduce business expenses without first getting a solid handle on where your business is spending money right now.
2. Plan to Be Proactive, Not Reactive
Too many startups …