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Managing expenses is a key for business success, and overhead costs play a pivotal role in realizing favorable profit margins. Almost all companies have some form of overhead consisting of specific categories of indirect expenses. The better organizations can manage overhead costs, the more competitive they are in the marketplace.
For small business owners, overhead reduction usually means better profit margins, and a boosted bottom line. But before we can help you reduce costs, MITM needs to know how much your overheads are costing you.
MITM business consultants do this by First, taking all of your indirect costs for the month. These are all costs not directly associated with producing your products or services. Then, compute your monthly sales during the same time period, and divide them by your overhead.
Too high a percentage, and you’ll need to adjust your overhead to continue turning a profit. A low percentage is usually a good sign, although too low an overhead could mean that you’re sacrificing quality for affordability.
We help you figure out, and determine where the changes should be made.
The MITM Membership plan is the perfect fit for someone who is not in need of a full package consultation. This comprehensive $100 a month service allows for anyone who may be in need of a dedicated MITM business consultant to help identify your business goals and consistently work with you to achieve them. Our consultants are very diverse and each one brings years of experience and most importantly the proper licenses to the table; whether that is questions around: Personal finances, Business finances, Taxes, Estate Planning, Lending, Investing, and even Residential or Commercial Real Estate