Running Costs and How to Reduce them!

Posted in Cost Detective by Marcus on November 19, 2013 No Comments yet

Running Costs and how to reduce them!

[Reward for reading the article at the end!]

We at The Cost Detectives work with a number of charities every month and although costs can differ widely between organisations the relentless pressure to reduce them and get value for money is always the same.

Whether it’s champagne and fish tanks in the private sector or sleeping bags and Gift Aid support in the charitable sector, we have found the same basic questions can be asked of all costs.

 

The three most important questions

 to ask when looking at any cost.

 

1    Is that cost really necessary?  [Can we just get rid of it, just because that is the way it has always been done does not mean it should continue that way. Challenge the costs very existence.]

 

2    How can we be more efficient? [This could mean something as simple as turning the lights off or using free technology available on the internet, or making processes work smarter.]

 

 

3    Can we renegotiate with our suppliers, if not can we change them? [Many suppliers will negotiate, you maybe surprised and indeed there are many hungry suppliers who will provide better and less expensive products and services.]

 

 

If you can ask these questions and take action on the answers then you will go a long way to ensuring that you are using your income wisely for your charities chosen passion.

 

Often it is a case of finding the time to ask for help. For example, we are often surprised how many companies are happy to help charities especially those with local connections, equally we come across others who treat charities as just another customer and charge whatever they can get away with. Most charities we see have a mixture of the two. But do find the time to ask.

 

The key is not only to ask the four questions but also to take action!

 

Reward Time!

 

As a reward for reading the article here are three tips that you can take away with you now and potentially save thousands of pounds in your charity. So copy these to your finance team now, you may even get them to make the coffee for a change as a thank you.

 

3 Cost Saving Tips

 

1    If you do not know when your energy contracts end then find out, otherwise you will be rolled over into a new much higher, above market rate for years to come.

 

2    Have a look at your phone bill, if you are paying a minimum call charge, even if the call is one second long then you are paying too much. Also if you are paying over 8 tenths of a penny per minute for local and national calls then you are paying too much.

 

 

3    If Vat is actually a cost for your charity then check you are paying the reduced rate for all your energy and water you could save 15% off every bill!

 

 

The Cost Detectives are a Cost Reduction company, who help all types of organisations by identify cost savings. We help a few charities each month for free. Follow us on Twitter for more tips or just email Marcus@thecostdetectives.co.uk  with any questions and help.

 

 

 

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Free help for Local North London Businesses from The Cost Detectives

Posted in Cost Detective by Marcus on July 22, 2013 No Comments yet

We at the Cost Detectives have decided to try and do our bit to help small local businesses.

So even if you are not one please pass on the message.

Is your business under £500k turnover and are you in postcodes N14 N21 N20 EN N11 or N13 then we will look at your costs for free, our bit to help Local Businesses.

If your business is a little slower over summer then it is a good time to review all the costs within your business so why not take advantage of this offer?

Just drop me a line and we can make a start.

Here is a blog that may help. http://bit.ly/15CvoFB

I hope you are still enjoying the heat, remember when it snowed and you wished it was hot!

Feel free to pass this offer on.

Best Regards
Marcus King
The Cost Detectives

PS We also help charities for free so if you have any contacts in this area please do let them know.

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Helping make a Splash at Barnet College with Working Knowledge

Posted in Cost Detective by Marcus on October 12, 2011 1 Comment

Had a great time yesterday as part of a team of local business experts invited to help 120 A Level kids at Barnet College develop and create a business plan around a product they had created that morning.

Of course what was really going on was helping them with: asking for help, taking on board advice, developing a plan and then presenting the plan at the end.  Imparting business wisdom with open questions is sometimes harder than you think. Had a great time and would recommend to anyone who wants to be an Expert and help out anywhere in the UK.

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