0
What is the last cost you should ever cut in your business?
Stuart Bailey
What is the very last cost any business should cut, recession or no recession?
During these strange and uncertain times a lot of businesses will be thinking about cutting costs in this area, or have already done so!
I started my Photography business in possibly the worst time in recent history with COVID-19, but as horrible this whole situation is, it has actually been the best learning curve that I could ever have! - Nothing like being thrown in the deep end and having to learn to how to swim to survive!
If I can survive as a commercial photographer and keep my business alive through this global coronavirus pandemic and recession, then in theory, it should be booming when the economy comes back to some sort of normality!
So, what is the one thing I think that all companies, big or small, should never cut costs on?
Well, it seems obvious, it’s the very thing that actually gets customers and clients coming to your business, which is marketing and advertising!
No matter matter what economic time we find ourselves in, but especially now, the area that companies seem to cut cost on in an economical downturn, has historically been their marketing team and their marketing and advertising efforts.
Maybe the thinking behind it is,
“Well we’re not getting, or going to get any customers for a while, so why waste money on marketing to people who can’t buy from us anyway?”
Sounds valid right, and makes some sense?
However, this really should be the very last thing companies should be cutting, ever, and especially in an economic downturn!
The way businesses get customers is though marketing, advertising and networking, it’s what gets peoples attention.
Stuart Bailey
Add your answer:
Earn +20 pts
What is the fastest growing segment of the U.S. economy in the last decade?
minority owned business
What is the concept of marginal cost of capital?
The marginal cost of capital (MCC) is the cost of the last dollar of capital raised, essentially the cost of another unit of capital raised. As more capital is raised, the marginal cost of capital rises.
What are five diffrent it systems and how they affect business in the past few years?
Five different IT systems are social media, cloud computing, big data, next generation mobile, and consumer technology. They have affected business in the last few years by helping them reach larger audiences than ever before, giving more choices to consumers with what goods they get, and they have made business more competitive overall since they not only need to watch their competitors, but emulate what works for them.
Marginal versus variable costing?
Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.
What is the difference between average costs and marginal costs?
This is the economic distinction equivalent to fully absorbed cost of product and variable cost of product. Average cost is total cost divided by number of units. Marginal cost is the cost to produce the next unit (or the last unit
Which section of the business plan should come first but be written last?
The Executive Summary of the business plan is the first section readers see and it is an overview of the entire business plan. This section should be written last.
How long should you make out for?
How ever long you want it to last.
If you have several qualifications such as BA MA CeFA what order should you list them on your business card?
You should list your CeFA, then your BA and your MA last. Education is ranked with the highest level last on business cards.
Why would a business choose fluorescent instead of incandecent lights?
They save energy, last longer, and cost less.
How long should professional bug extermination last?
For a business, it should be permanent on a monthly basis. For a homeowner, it depends on history of pests and tolerance. Some live with no service and some don't ever want to see a spider, so it's an individual decision.
How much should it cost to rebuild the transmission on a 2001 Ford Expedition?
I had one rebuilt last year and it cost 1500.00
One last question an?
One last question and I believe I know what the correct course for you should be. Have you ever been diagnosed with shingles?
Which is a good business to start at this time?
A business that can flow with the market trends, a business that does not require you to sell the new miracle juice, beauty products or things people can do without in the current economy. In fact a business that requires you to sell nothing. You will want the start up cost to be as low as possible and working from your home has many advantages. And last but not least the monthly overhead should be very low when starting.
Why should the world switch to fluorescent light bulbs?
last longer and cost less on your bill
Will Goldberg ever wrestle the undertaker?
yes; he should wrestle the undertaker. he should make one last math at wrestlemaima30 in MSG.
What is the last cat face video?
The last one i have ever seen is #22. Cat Face is a very funny video! And you should definitely watch it!
Should a period ever last 10 weeks?
Go to a doctor ASAP, perhaps the emergency room.
