“Real benefits come when managers begin to understand the profound difference between ‘cost cutting’ and ‘eliminating the causes of costs” — Brian L. Joiner
While businesses fixate on crafting new offerings for new markets or generating sales, they tend to overlook the fact that while bringing in more revenue for the company is crucial to generating profit, cutting costs can be just as important.
By cutting redundant costs by just a small amount, a business could double its profits without needing a single new customer and without making a single extra product. It won’t need to hire more people, enter new markets, or get a new premise — just by focusing on being more effective with what it already has.
In this course,
1. Learn to categorise various costs
Learn to categorise various types of costs for better control of cash flow and use of funds.
2. Understand how to maximise payroll
Learn to maximise payroll and evaluate effectiveness of human capital. Understand the evaluation funnel to restructure the company.
3. Identify pain points of cost-cutting
Learn to apply the Cash Conversion Cycle (CCC) concept with the aim to identify and mitigate gaps in your company’s cost-cutting exercise.
What is going to be covered
- Identify Cost Structures
- Differentiate Cash Flow and Account Items
- Understand Sales, Profit, and Cash
- Identify Different Types of Cost
- Learn the Importance of Understanding Cost Types
- Learn to Evaluate Human Capital
- Learn the Steps of Laying off
- Apply the Cash Conversion Cycle (CCC) Concept
- (Slide) Courseware — How to Cut Cost
- (Excel) Worksheet — How to Cut Cost — Activity 1: Expenses Categorisation and Cash Flow Overview
- (Excel) Worksheet — How to Cut Cost — Activity 2: Payroll Overview
- (Excel) Worksheet — How to Cut Cost — Activity 3: Accounts Payable Summary
- Business owners or entrepreneurs seeking to cut costs
- Business owners performing their own accounting and HR management
By the end of the course, you’ll be able to:
- Understand the differences of various costs
- Know how to categorise expenses and and manage cash flow
- Learn to evaluate human capital
- Apply the Cash Conversion Cycle (CCC) concept
Start cutting redundant costs and focus on being more effective with what it already has. Visit this link on Techgoondu to enrol in this course today!
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management. We scale businesses in Southeast Asia.Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.