The April/May edition of Wellington Today, a magazine for growing businesses, had a lot of interesting articles in it, particularly one called “Trimming the fat”.
The main focus of the article was ways to cut costs and work more efficiently.
It warns of cutting costs not quality and that business survival is a 3 step process – cut costs, hold on to your cash and increase sales. The article then listed several suggestions to go about this.
The part that caught my eye was ‘borrow or rent equipment’ and it asks “Have you ever purchased business equipment for a small period of time?”
I’m sure many of you have but you just don’t need to. You can hire pretty much everything, keeping your cash where you need it, in your business!
Pause before that next purchase and consider hiring as an alternative.
I hope we just saved your company a lot of money.