This is the first in a series of three articles on knowing your costs, for improved financial health and a better chance of winning good profitable work. You’ll find the other two articles here:
James from our partners Comera Professional has these valuable points to make:
“The first step to doing this is making a thorough list of all your expenses (both direct and indirect). Then consider cutting the “discretionary” (non-essential costs). If you have employees, make sure to involve them at this stage, as they’ll often have valuable suggestions for making your spending more efficient.
“In the longer term, you’ll need to assess all your costs, working out the cost-benefit of all of them and making cuts accordingly. You might also consider which markets you’re targeting, whether you can subcontract some parts of your work and how you remunerate your employees.”
This isn’t just a cost-cutting exercise to get through the pandemic, even the most profitable businesses assess their costs regularly. See what else the team from Comera Professional has to say on getting through the next few months and into the future, here.
The team from Comera Professional is also offering a free 1-2-1 online consultation with an Independent Financial Advisor which you can access here.
EstimatorXpress can help your re-start be a positive one, so why not have an online demonstration with one of the HBXL Building Software team. We’ve made lots of hour-long slots available. And if you have more time available at your end, you could trial the software for 14-days. We’re here, ready to chat on 0117 916 7898.