Masonry Magazine December 1993 Page. 30
Don't Cut These Costs
Your first instinct in tough times is to conserve cash. But before you make wholesale cuts, remember that certain expenses can help you improve your competitive position.
HARD TIMES can befall almost any business from time to time. When you're hit with an unexpected crunch - due to a faltering economy, unfavorable industry trends or plain old tough competition - your first instinct is probably to conserve cash. And that's a positive instinct. But before you make wholesale cuts in spending or radically alter the way you do business each day, remember that certain expenses help you maintain and even improve your competitive position. By cutting these critical expenses, you can end up hurting yourself and, in some instances, even threaten the very survival of your business.
Here, then, is a summary of costs you should be wary of cutting:
Accounting and Auditing Services-In tough times, you must keep on top of your cash-and to do this, you'll need top-notch financial reports, timely tax filings and solid trend information. That's what your accountants or auditor will give you.
Advertising-Advertising is your lifeline to sales. It helps keep customers informed about what you have to offer and helps you turn over inventory. Many large corporations, when faced with declining sales or profits, dramatically boost their advertising expenses.
Collections-Turning your receivables into cash is one of the best ways to weather a cash crunch. But beware. During tight times, many of your customers may be short on cash, too, and may want you to wait for your money longer than usual. So it's doubly important that you bolster collection efforts when things are tight.
Customer Service-What unique courtesies and services do you provide your customers? What can you add when you're faced with competition for limited customer dollars? Never skimp on relationship building. Decide how you can make your service more personal during hard times, and you'll build a following of loyal customers when you need them. Continued on Page 46
THE MASON'S CHOICE IS PRODUCTIVITY, AFFORDABILITY & LESS LABOR
HIGH-SPEED
SCAFFOLDING
* INCREASE PRODUCTION 20-35%
Keep masons working at most productive level all day.
No stopping to move mason's brackets and planks.
Provide masons with better visibility of work being performed.
Eliminates stooping down or reaching up for materials.
* REDUCE SCAFFOLD LABOR COSTS 80%
Build only once on the job and move with forklifts.
No moving of safety rails or unused material to next level.
Towers can be extended without interfering with the masons working.
* STRONG
Winch and pully reduces the force necessary to raise full pallets of block or brick by 75.6%.
* SAFE
Safety device can only be released by foot petal.
CALL OR WRITE FOR YOUR FREE VIDEO
To maximize your bottom line profits, Mighty invites you to attend workshops offered in Nashville and will job-site train your personnel.
MIGHTY
491 Allied Drive
Nashville, TN 37211
EQUIPMENT COMPANY (615) 834-2120 (800) 859-2120
30 MASONRY-NOVEMBER/DECEMBER, 1993