Improve Bottom Line Despite Economy

Added sales, by making every day count, is certainly one important path to follow. But let’s face it, it’s not going to be a “piece of cake” during this current falling economy. Just like you, your competitors have become very efficient and more determined than ever to retain their own market share.

That’s why it’s imperative today to work the other side of the ledger. Give more attention and serious focus to saving cash, getting control of your company’s many costs (both expenses and purchases), because that’s where the real payoff is. Every time your company “saves” a dollar it goes directly to your bottom line.

Your sales dollars must pass through many “filters” before it reaches the bottom line. These filters include such things as rent, insurance, utilities, salaries, benefits, inventory, advertising and marketing, mailing and shipping, telephone, licenses, association dues, office equipment, taxes, legal and professional services, etc. But dollars saved go right to the bottom line!

Ways to save cash and improve your bottom line would include:

1. Do more business through IMS - you have 24 hour access to the IMS Marketplace, an App that allows you 24 hour access to approve transactions, AND a personal IMS Broker will SELL FOR YOU. Every barter purchase, replacing a cash purchase, saves you money.
2. Begin negotiating better with your cash vendors. Ask the simple question, “What else can you do for me?” Introduce them to how modern bartering works, set up a lunch meeting with them and your broker using trade.
3. Focus on performing to the utmost for existing clients. Remember, it costs ⅕ as much to keep current clients happy and satisfied as to find and secure new ones.
4. Introduce incentive programs for greater productivity. This can be as simple as entertainment tickets, or personal care options like massages and salon services. But you could go a step farther and put health programs together or even travel incentives, all using trade.
5. Install an “idea box” for your employees. Reward them for the best money-saving idea. Tie in the reward to the annual savines, i.e., if thousands are saved, certainly a trip to a vacation spot! The IMS Travel Department has over a 1,000 properties, national AND international. You can browse all the possibilities on the IMS Barter website.

If you would like more ideas on how to increase your cash flow and your bottom line, read more articles like this on The Editor’s Choice on the IMS Website. If you want to explore your options a little more, call your IMS Broker today.