Optimal Work Daily - Career, Productivity and Entrepreneurship 1919: 3 Ways You Can Cut Costs In Your Business AND How Businesses Can Benefit From Healthy Competition by Michael Levitt
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Jan 1, 2026 Explore practical strategies for cutting business costs through automation of processes like payments and shipping. Discover low-cost marketing tactics, including social media and blogs, to promote your brand on a budget. Learn how healthy competition not only fosters innovation but can also lead to unexpected partnerships. By analyzing competitors and performing SWOT assessments, businesses can capitalize on trends and improve offerings. Embrace rivalry to drive down prices and enhance customer choice.
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Schedule Regular Expense Reviews
- Review your business expenses regularly to spot overspending and unnecessary fees.
- Move vendors or choose cheaper alternatives when savings outweigh migration costs.
Automate Repeatable Processes
- Automate recurring processes like payments, invoicing, and shipping to reduce errors and labor costs.
- Use automation to scale repeatable workflows and cut long-term operational expenses.
Use Low-Cost Marketing Channels
- Use low-cost or free marketing channels like a website, blog, and social media to promote your business.
- Leverage free marketing tools, local flyers, and discounts to attract customers without big ad budgets.