Don't Focus on Cutting Expenses, Focus on Increasing Cash Flow

I recently wrote and published an article: 5 Ways you Haven't Thought About to Cut Business Expenses. This is where I present 7 ways most businesses think to “cut” expenses and I state that most are “wrong” to do and then I present 5 ways which business owners overlook that bring monies to their “bottom line”. As a business consultant “looking in” I see so many areas where business owners are missing monies every day for so many reasons; one are the WOTC credits, but I’m getting ahead of myself because that is one of the 5 ways.

The picture above shows you just how "silly" is your first mistake. 

Think about this, you don't want to destroy money or cut expenses. 

You'll never be able to cut expenses enough to bring income; you are "going the wrong direction". You need to increase cash flow moving forward, not backward. 

 

Below is #5 in the list of 7 typical ways businesses “cut” expenses, but with my comments (You can read the entire article here) followed by information on “the 5 ways” of bringing money back to the business.

 

If any of this makes sense to you, please use the share buttons and leave your comments. Also, be sure to visit here again and I will present more business dichotomies.

5.       Renegotiate Your Lease, or Move. Harsh and “heavy duty” decision here, but business is business. However, when you move consider “all” the costs; much of which you may not think about such as all the costs to change stationary and signage and more importantly all the marketing necessary to get your new location in the minds and habits of your customers.

WOTC credits have been around for years but they used to be only for veterans and ex-cons. Now your business can earn up to $9600 per every person you hire. That would go pretty far in creating revenue in any sized business. There is a word that describes a business owner who continues to hire and not take advantage of this money which is available to them which needs to be asked for before hiring, but I can't print it here. Why any person would continue to let this money go "bye-bye" every time they hire someone is beyond me. 

Have you made any property improvements or put up new buildings? 

You are probably owed monies here.

As a business tax and expense reduction adviser, I offer other ways to save your business money. Another is having an ongoing credit card processing monthly audit to cut your fees; many times up to 21%; that my friend can be a big chunk of change. We don’t advocate changing credit card merchants; just be “smart” in watching those fees!

I think you’ll agree that it is foolish to continue to pay fees and not get the breaks you and your business are entitled; especially when it is tough enough to conduct business and, when it is so easy to have our service check into this for you. If we do not find you savings or reductions, you pay us nothing!

It takes less than 30 minutes to run the numbers for you. If you are located within 100 miles or so of Duluth MN/Superior WI I will personally visit or send someone from our team. If your business is located anywhere in our 50 states, we can do a screen share. The same technology which makes it easier to find and get you these tax incentives and expense reductions is the same that makes it easy for me to assist you.

To see your estimated savings use the following links. Remember that these are estimates only and do not cover all five areas where I can help. We’ll need to meet to determine all we can do.

Why put this off any longer? We’ve worked with too many business owners who have wished they had acted 5 and 10 years ago. Quit missing out on what you are entitled to. 

Learn more about WOTC CREDITS

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Terry (Ter) Scott

Senior Advisor

Terry Scott is a Senior Agent with Stryde Solutions. Terry Scott's team works with clients on a national level to identify Specialized Tax Incentives and Expense Reductions.

Stryde Solutions has captured over $300M in benefits for clients. Stryde offers the opportunity

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