Small business owners need to use a systematic approach to reduce cost in small business while still keeping your foundation intact allowing you to take advantage of the upturn in economy when it happens. Earlier we suggested that you should take surgical knife approach to cost reduction as opposed to using machete.
By applying this approach your business may come up with tactics that will be different from some other type of business. You have to tailor the systematic approach to your business and situation. However, there are common tactics that can be employed by almost all types of businesses. Below we describe those techniques categorized by stages in the cost reduction approach.
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What other techniques have you used to reduce cost for small business in a prudent manner?