Written by Todd Larsen, CEO Limitless Technology~Cost Reduction Specialists
Are there times when you as an Owner, Managing Partner, or C-Level Executive look at your business costs and see things which ” just don’t look right”. Are there places you feel you could get better pricing, but are not sure how? And do you believe, if you or your Staff put in the right amount of effort, you could find additional savings? Pretty standard “stuff” in businesses of all types and sizes.
So, what so you do? Do you take it on yourself? Or do you ask your department heads to tell you how they feel there costs are? And how often do you get the response..
– “we’re all good”..
– we just looked at them and “we are in line.”
– I just spoke with the rep and “he/she says we have the best price possible.”
– “we pay a little more but our vendor or agent takes care of us.”
Or is there another one you hear??? (Please comment to this post if you have another one you hear.)
But…when these phrases are posed to you, what verification and proof Is offered to support the claim? Do you hear the answer, move on, and just accept them? And if so, does doubt sit in the back of your mind? And does it continue…with you still not believing the answers received truly support what you are seeing or sensing, on where your costs should be?
So then what do you do?
I think this is the big question, and the most difficult one for most top executives to make. Not because they can’t or shouldn’t make choices to “inspect what they expect”‘, but because they do not want to:
– not make their count parts feel questioned
– not make their employees feel “un-trusted”
– not waste time looking at something that someone could say…”I told you we were okay”
So what can be done?
Let’s look at it from an analogy aspect. If you came to work one day and you just felt like the was gold in your parking lot. Now it’s more than a sense of course because your knowledge of where “gold may lie” is based on your knowledge and executive experience. And, to make sure you are getting a potential “second” confirmation you of course ask a couple of other executives what they think, and they of course said…”there’s no gold there“…. or I just looked at the parking lot and I didn’t see any gold? Yet deep in your gut you believed all the right indicators for a large amount of gold was there….what would you do?
Well, you may want to call in some form or trusted advisor or expert. Or you may want to seek a resource you feel has more credibility to decide whether or not it makes sense to dig up the parking lot. But what would be the worst thing to do? I am betting you already answered that…
Nothing is what keeps us from uncovering the facts, discovering reality, ensuring success, and increasing your opportunity and providing “maximum profitability.”
But, you sure don’t want to tear up the parking lot, create unnecessary expenses, wasted time, or inconvenience on you or your employees. So when it’s something you know should be done…how can this be accomplished?
So you may want to ask this question? Are there expert firms that will burden the risk and share in the profits, while minimizing the impact to you, your employees, and the business? There are. In fact, for almost any segment of your business there are companies and individuals which can help you “find the gold” in your parking lot for:
– little to no money/investment upfront,
– with very little impact on your employees,
– and with minimal disruption to your business.
Theses billing optimization firms come with the expertise, process, and tools to “find your gold” and ensure your increased profitability potential. Make sure however that you hire firms that:
– have the recent historical industry background
– have been in business for more than 5 years
– have a “reference able” client base and supporting testimonials
– are experts in your particular industry or service interest
– have a proven process to ensure success
Now…the easy part. Just make the right decision by acting swiftly, seeking the right expertise and recovering the ” gold” you know is most likely there. You just have to act.
Remember, “Procrastination is one of the most common and deadliest of diseases and its toll on success and happiness is heavy.” Wayne Gretzky