To maintain a healthy, efficient, and profitable business, it's crucial to have attentive and proactive financial management, regardless of the industry. Therefore, understanding the details of unnecessary expenses is an essential action to ensure the company continues to function well.
According to Reinaldo Boesso, financial expert and CEO of TMB Education, fintech The text you provided is already in English. Here it is again for clarity: “Offering the possibility of installment payments via bank slips is very common in the digital market, where companies often want to grow and profit quickly while overlooking small financial details that can make a big difference. ”If you don't understand how to manage your business well, you risk losing control and, ultimately, the business itself,' he warns.".
According to the executive, it's possible to draw a parallel between a company's costs and a tree. “In both cases, you need to constantly prune to keep them growing. That's a lesson every manager and entrepreneur should know,” they assert.
The CEO of TMB Education explains that, just as it's common for individuals to accumulate unnecessary expenses, the same can happen with legal entities. “Just like you might sign up for four or five streaming services and not use them, realizing you're spending unnecessarily, it's very common for a company to accumulate expenses that don't make sense, from tools that no employee uses to expenses that have been forgotten. These costs can eat into the company's profit if there isn't a manager carefully looking at them,” he advises.
Reinaldo Boesso explains that, as the business grows, it's natural for some areas to become more bloated. Therefore, the role of the manager is to identify these areas to work more efficiently and profitably. “It's important to consider that some things that were done in a certain way can now be done in a more efficient and economical manner. Success definitely lies in the hands of those who know how to manage!” he concludes.
Here are some guidelines from Ricardo Boesso to help reduce expenses in your company:
- Renegotiate rental contracts and expenses.
- Automate processes to reduce the need for manual labor
- **Translate from pt to en:** "Review internal processes and strive to reduce waste." **Preserved formatting, tone, and context:** - Original: "Revise processos internos e procure diminuir o desperdício" - Translation: "Review internal processes and strive to reduce waste."
- **Adopt practices to reduce energy consumption**
- Choose suppliers with more favorable rates
- Establish partnerships with other companies to reduce marketing costs
- Revisit the portfolio of products and services
- Offer new payment methods
