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... at least an annual basis, (preferably semiannual or quarterly) review all expense items in your budget and survey your staff about the use of things like: Memberships Subscriptions & publications Entertainment Travel Advertising Education & training Rent (if you are a tenant) Do you have more space than you need? Are you using the space efficiently? Supplies Equipment repair Etc., etc. The biggest expense items you will have are payroll and benefits. Do shop your benefit program every year and try to negotiate the ... policy to take windfall profits like profit sharing and use them to pay off or reduce debt. With the exception of premiums collected early, it is very difficult to generate any revenue on money owed to someone else, so keep it at a minimum and as an emergency measure only. Sometimes it is better to lease a piece of equipment rather than buy it, if you can get the right terms. Whether you purchase or lease and you still have to pay something to someone. Go into it to with the right attitude ... build a wall around the account, which will help keep out the competition. It is a lot easier and much less expensive to grow a relationship with an existing account than it is to create one with a new account. Actions you can take right now to assist in improving retention are as follows: Track lost accounts monthly. Know why you lost it. Once lost, add it to your prospect database and prospect it next year. Stay in touch with them after you lose them. Contact them and ask them what ...

...aining Rent (if you are a tenant) Do yo..., so keep it at a minimum and as an emergency measure only. Sometimes it is be...