European Management Center

1.     Include advertising material with invoices etc (saves postage and other costs);

2.     Ask your contacts for ideas to boost sales and also ask current satisfied customers to use their experience as to what they gained by using your products / services and use that in marketing material;

3.     Depending on the size of your company, look at using local TV for advertising or speak at a community meeting or writing an article in the local newspapers that will establish you as an expert in that market;

4.     Investigate internet companies that will for a low monthly fee, provide you with a web solution for selling on line;

5.     Ensure that you insert your company URL (uniform resource locator) on all company uniforms and vehicles (if appropriate), promotional materials, press releases, invoices, business cards etc.

B. Office Overheads etc

1.    Renegotiate your present office lease with your landlord and prior to that meeting, investigate the current rates in terms of rent / rates in the current competitive market especially with the high vacancy rates in most markets as landlords would always prefer a reduced rent to no rent at all;

2.    Solicit more competitive insurance quotations for all aspects of your company and look to change / renegotiate as soon as your current contract allows.

3.    Investigate paying the premium upfront as this can produce a considerable saving;

4.    Ensure that any claims are kept to an absolute minimum as this will improve your risk profile which will result in lower rates in future;

5.    Look at a higher deductable on your insurance cover which will produce a lower premium but always ensure that you keep adequate insurance cover for all aspects of your business as if you do not have adequate cover and if a serious event occurs, it could prove to be a terminal blow for your company;

6.    Look at procurement of office supplies etc from the cheapest source and use central procurement for all offices / production facilities to take advantage of economies of scale when purchasing;

7.    Negotiate your energy needs (electricity and gas) collectively for all your offices / production facilities with the various energy companies to achieve the most cost effective terms and conditions;

8.    Similarly with fixed line phones / internet providers / mobile phones;

9.    Similarly with water / sewage utility bills;

10. Ensure all equipment / lighting / heating / cooling is turned off when not needed and especially at night as this will have a significant impact on all utility bills which contributes directly to the bottom line;

11. Use storage companies to archive company records and only store documents that are absolutely necessary as this will free up space;

12. Sublet any temporary unused office space and sell any unused furniture and ensure the renegotiated lease allows this to take place;

13. Look at reducing the mailing list as much as possible and shop around for competing postal / courier companies;

14. Investigate using E Mail as much as possible to contact clients and send drawings etc.

1.    Prepare a detailed staffing plan for the next 6 / 12 months as it is essential for a company to react quickly to changing market conditions and it is imperative that no employees are underutilised during slow periods;

2.    It is best to employ a minimum core staffing level and hire in temporary employees to cover seasonal surges in business such as Christmas etc;

3.    Look at using outside companies to provide payroll, legal, accounting etc or rationalise these functions by having one office in the group provide these functions within the company. However, ensure that only competent independent contractors are considered as nothing demoralises a workforce more than not being paid correctly and on time;

4.    Investigate moving permanent staff onto annual contracts thus saving on any future potential downsizing costs;

5.    Consider moving as many as is practical of your sales force onto a commission only employment contracts which will save cost and provide them with the necessary financial incentive to go out and sell your goods;

6.    Involve all embers of staff in cost cutting brainstorming sessions which should be held at regular intervals as this can produce many positive ideas;

7.    Broaden staffing responsibilities so that the efficiency of staff resources are maximised.

1.   Ensure that all company travel is actually essential and it must be authorised by the department head to guarantee that travel costs stay within approved budgets;

2.   Where attendance is know in advance for a specific conference etc, then tickets should be purchased as early as possible to obtain the best rates;

3.   All airline frequent flyer miles earned on company business should be returned to the company for company use;

4.   Negotiate discount rates with 2 / 3 star hotels and car hire companies for use on a company wide basis;

5.   Costly entertaining of clients is to be approved before incurring the expense;

6.   As it is expensive to travel to visit clients etc, it is essential that you maximise this cost by preparing a agenda of  topics to be discussed regarding future business etc so that the most benefit is derived from the meeting;

7.   Limit the use of company credit cards to senior executives only.

1.    Ensure cheques received are taken and paid into the bank / financial institution in the morning so that you are given credit and hence interest for that day;

2.    Only give credit to a minimum of clients and then only to long term trusted clients but remember no company regardless of size are immune from bankruptcy as this is a risky practice and is to be avoided if at all possible;

3.    Be aggressive with companies who do not pay on time as this may well be a sign of financial difficulties by the debtor so designate a person to call ever day if necessary until the account is paid in full;

4.    Meet with clients you purchase from to investigate if they can reciprocate and use your goods / services;

5.    Ask suppliers if they will give you a discount for early payment of your account, if not, arrange to pay your suppliers, taxes, utilities etc as late as possible but ensure that penalties are not incurred;

6.    Submit your invoices / professional fees as soon as possible in terms of your contract conditions;

7.    Never procure anything on a single bid basis and your procurement department should invite at least three competitive bids for all items to be procured;

8.    Keep close track on your competitors so that you do not underbid and hence loose potential profit or underbid and loose work / sales;

9.    High fee projects may not be the most profitable if it means doing business in an area you know nothing about with all the associated costs that incurs.

Each participant will receive handouts

The fee for participation in the Open Program is  680 euro

The program can be conducted as In House Training for a particular company, in which case it will take into account the specific company activities. The training will be custom tailored to the specific needs of the client, stressing issues and topics from the content that relates to a particular interest.

In House Training meets the time preferences of the company.

The fee for In House Training is negotiable.

Registration: Daily Life Management   Mr. Mrs. Name* Last Name*   Position / Department Organization Scope of activity   Tax address Address correspondence *   Phone * Fax E-mail* Website   ID number VAT number MALL Въведете символите от картинката:*

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