Here are a few of the ideas and changes we’ve implemented that have significantly improved our bottom line profitability:
Aggressive Asset Management
- We evaluated all of our assets against a specific set of criteria and sold off equipment and vehicles that were either obsolete (to us) or underutilized. We not only raised a significant amount of cash, but we also opened up some much needed space in our warehouse and offices.
- After the asset sales opened up warehouse space we realized we could make much better use of our warehouse space, eliminating the need to lease additional space when we have larger programs come in for fulfillment.
What’s more important to a small business than cash-on-hand? And being diligent in evaluating assets and maximizing the use of monthly overhead expenses, such as office/warehouse space makes sure you leverage your most critical asset: cash to fund ongoing operations.