7 Tips For Lean Business Growth In A World Of Excess

Lean businesses are nimble. They understand how important it is to move quickly when an opportunity presents itself. As such, these organizations put themselves in a position to make things happen.

Though lean businesses should aim to keep debt low, there’s a moment and place for taking on a loan to execute promptly.

Quick cash loans from online lenders are the way to go. When you have a specific lender bookmarked in your browser, you can log on, apply for a loan, and get a few thousand dollars within a single business day. This makes it easy to pounce on an opportunity when time is of the essence. And as long as you pay it back according to the terms, you’re no worse off for taking on a small amount of debt.

  1. Cut Overhead Costs (And Reallocate)

The classic mark of a lean business is the ability to maintain smooth operations with low overhead costs. Every dollar you’re able to save in overhead is another dollar you can use to grow your business. Start by looking for the low hanging fruit, such as:

  • Utilities like heating, air conditioning, electricity, and water are all non-negotiable expenses. But a few small changes in how you use your utilities could save you significant money each month. Consider using a programmable thermostat and powering down computers, printers, and copiers at the end of each workday.
  • We finally operate in a business world where it’s feasible to go paperless. By reducing your dependence on paper, you’ll save thousands per year (and get to use “green” as part of your branding).
  • Square footage. Does every employee really need their own office? Do you actually need three conference rooms? Rethink your square footage needs and consider moving into a smaller space with more purposeful design. Cha-ching! That’s the sound of you slashing your rent in half.

The deeper you dig, the more you’ll find additional opportunities for slashing overhead costs. For example, most businesses are spending way too much on payment processing fees. By cutting out the middlemen, negotiating with processors, and properly setting up a merchant account and terminal, you can save thousands every year. 

  1. Invest in Organic Marketing

There’s no limit to how much advertising you can do. If you wanted to, you could spend 100 percent of your monthly budget on advertising and still feel like you aren’t doing enough.

Instead of throwing a bunch of money at advertising – which only produces results as long as you keep spending – invest that money into organic marketing that yields sustainable results.

View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.