Cash flow checklist: How to manage your costs

Are you managing costs? So many small businesses I know have great intentions, but they operate on a fine line between keeping the costs of doing business under control, and getting swamped when unexpected bills crop up.

The trick, according to Avron Newstadt, of Expense Reduction Analysts, is to get into a cost management mindset.
If you can say 'yes' to the following statements, then you are a business that has the potential to manage your costs well:

* You dedicate ongoing and regular time each week to the principle of cost management

* You have developed a cost management culture in your business, so that your staff know it's important

* Your staff think before they spend

* You have systems in place to track your costs

* You keep your finger on the pulse of a wide range of costs out there in your marketplace.

Give it a go!

Margie