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How to Shave $2,000 off Your Overhead Costs

BY Eddy Hood In Outsourced Accounting Services On Jun 05, 2013 With 2 Comments

no_budgetLet’s see if we can add $2,000 to your salary today, shall we? If you spend the next few minutes with me, I'll give you a quick and easy plan to cut your overhead costs and beef up your salary.

To start off, let me say that this doesn't have to be hard. In fact, it’s easy to do as long as you try. The most successful entrepreneurs are action oriented people, and that's you!

Thomas Edison is often quoted for saying:

“Genius is one percent inspiration and ninety-nine percent perspiration.”

If that’s the case, and I believe it is, take the ideas from the video below and apply them. Doing so will give you an extra $2,000 and some extra special attention from your spouse. Wink, Wink.

Learn to Cluster Budget and You’ll Get Wealthy

Little changes to your financial plan equal massive payouts as a business owner. When you make sleight adjustments to how money flows in and out of your life, you can expand the fatness of your wallet.

I’m amazed at how many tweets I see daily saying “I need an accountant to keep me from spending all my money.”

Well, I’m answering that call today. As an accountant, I'm going help you discover the black holes that are sucking up your cash.

To do this, we’re going to apply a principle I call “Cluster Budgeting”. If you've been reading my blog posts, you know that I like to make up terms for the techniques I teach. This is another jaunt down that road.

How to Use Cluster Budgeting to Cut Overhead Costs:

    1. Group all of your overhead costs into clusters using the tool below.
    2. Choose one cluster to focus on each week.
    3. Determine where you can cut costs within the cluster.
    4. Then follow the acronym C-L-U-S-T-E-R to start saving!
      • Calculate the average cost of each expense in the cluster for a single month
      • Learn by researching different alternatives to cut or reduce the expense
      • Understand which options are best for your business
      • Save by cutting unnecessary expenses where possible
      • Track your spending to ensure your plan works
      • Enjoy the benefits of saving the money and increasing your salary
      • Repeat by attacking another cluster the following week - Wahoo!

 

My name is Eddy Hood. I've coached over 500 businesses on how to become more profitable. I'm the Founder & CEO of Ignite Spot, and I have mad parallel parking skills.

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