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In this episode of Ask Christina 1st, we talk about curbing your business expense and what it means. Business expenses are broken down into two categories, fixed and variable. Fixed are the core expenses that don’t move a lot, these expenses have a monthly payment commitment, a contract, or an agreement, and require a specific payment amount. Variable expenses are those business expenses that vary, or change, and aren’t essential to keeping your business running. The management of both expenses and the way to curb your business expenses boils down to tracking.

Business owners tend to focus on their variable expenses in order to change them, but the core expenses should also be looked at. Can you reduce the amount of your electricity bill, the rent, can you reduce a full time employee to part time employment position, which will also save you on benefits. Make cuts that are unnecessary or repetitive, don’t just cut hours or benefits for the sake of doing it, cut back on things that waste money. Comb through your fixed expenses and determine what expenses are many not actually core; if your business can run without renting out space, without a landline or multiple phone numbers or websites, eliminate those things and save a significant amount of money.

In this episode you will learn:

1. How to differentiate between your fixed and variable expenses.

2. Why deciding what should go and what should stay will help you save money.

3. How to track your expenses including advertising, rent, employee salaries, equipment, etc…


Every business is its own entity, so there is no formula that works for every business; it wouldn’t be advantageous. It would be easy to look at the highest things on your expense sheet and cut them, but that would not solve the problem, because every business has its own pattern and process.
In this episode of Ask Christina 1st, we talk about curbing your business expense and what it means. Business expenses are broken down into two categories, fixed and variable. Fixed are the core expenses that don’t move a lot, these expenses have a monthly payment commitment, a contract, or an agreement, and require a specific payment amount. Variable expenses are those business expenses that vary, or change, and aren’t essential to keeping your business running. The management of both expenses and the way to curb your business expenses boils down to tracking. Business owners tend to focus on their variable expenses in order to change them, but the core expenses should also be looked at. Can you reduce the amount of your electricity bill, the rent, can you reduce a full time employee to part time employment position, which will also save you on benefits. Make cuts that are unnecessary or repetitive, don’t just cut hours or benefits for the sake of doing it, cut back on things that waste money. Comb through your fixed expenses and determine what expenses are many not actually core; if your business can run without renting out space, without a landline or multiple phone numbers or websites, eliminate those things and save a significant amount of money. In this episode you will learn: 1. How to differentiate between your fixed and variable expenses. 2. Why deciding what should go and what should stay will help you save money. 3. How to track your expenses including advertising, rent, employee salaries, equipment, etc… Every business is its own entity, so there is no formula that works for every business; it wouldn’t be advantageous. It would be easy to look at the highest things on your expense sheet and cut them, but that would not solve the problem, because every business has its own pattern and process. read more read less

4 years ago #christinasuter, #smallbusinessadvice, #smallbusinesseducation, #smallbusinesshelp, #womeninbusiness