Service is “too expensive”
The focus of most business owners is the cost of any item or service. There are always ways to cut costs in a business but often the business cuts the wrong costs. The essential services are first to either get cut or not to pay for a service.
Countries across the world are experiencing, or will experience, adverse weather conditions causing untold damage. This damage can run into many millions.
Ah, you say that it will claimed against insurance. You may be right. You may be wrong. Insurance is one of the toboo topics tin business because “it costs too much”. Really?
The trend amongst businesses and in fact personal finances, is to focus on a one sided view of finances. As in life, there arw always 2 sides to the story. Finances are no different. There are 2 ways to increase profit. The first way is to decrease expenses. This is normally done first by people and businesses alike. It is important but it is a blinkered, and short sighted, view. This practice leads to cutting vital services and products, such as insurance etc, to the business.
The second way is to increase sales or income. This is often looked over by business owners because there is an outlay of money to get the desired result. The cost of marketing can be difficult to monitor. It is imperative that the return on investment is monitored carefully. This result doesn’t come quickly either, which puts people off.
Accounting
Another service that is often tucked into the “too expensive” category is accounting fees. Many times, we are asked why we charge so much. The answer is pretty simple – what if you do not have your accounts in order? Accounting records are submitted to SARS and that is one department of government that you certainly do not want to be fighting with.
The question to you is not whether you can afford the service. The question is this: can you afford not have it?