Tough news arrived last week as we saw currency slippage almost everywhere in the marketplace. We know an increasingly worsening currency outlook makes financial services tight, and business executives and managers concerned.

We also know that uncertainty heightens fear surrounding profits and cash flow. But the currency situation is out of our control, correct? The overall economy cannot be changed by one industry player, even if the player is large in size with many resources, can it?

So why don’t we focus on what we can control like our own costs, and worry less about what we can’t change? Why do we as business professionals look at the overall picture so intensely, instead of focusing on our business and positioning it best for the overall economic situation? This is an interesting dilemma and one that should be explored.

Simple question we need to ask ourselves is…what am I paying too much for and what can I do about it? Overpaying at this time is one of the most detrimental impacts an industry executive can make at this moment.

Go to:

http://limitlesstechnology.com/save-money-telecom-bills

Last week’s market info: 

http://app.en25.com/es.asp?s=930&e=152005&elq=003a9c689a514a6b869675ace552441c)

 

It is an odd question, but it is one that you are not asked enough. Let’s say you are walking down the street and you realize your money clip is missing. Thankfully your id and credit cards are all in your wallet, but you have lost about $400 (not including the value of your money clip). Are you upset? Of course you are! Question is, what are you upset about? Are you mad about losing the 6 or 7 sheets of green paper in that we define as currency? Probably not. You are most likely mad because you had made plans for that money to make your life better in some way.

Now here is another scenario; there is a hole in your pocket and you are continually losing about 2 dollars a day. You wear these pants every day (because apparently you don’t like to shop) and you never figure out that there is a hole. Does this cause the same reaction? I am sure many of you were upset but far less than in the first scenario. However, when you look at the numbers, you would lose $730 a year in the second scenario which is twice as much as that random large amount of money you dropped on your way to work in the first.

The negative reaction we have from quickly losing a large amount of money and slowly losing a small amount of money is human nature. We tend to notice large impacts and grow complacent to small losses. I argue, however, that we tend to lose more money on continual small losses because we ignore them. When we lose big, we tend to investigate and resolve the problem.

Why do we do this? Let’s go back to the scenarios listed above. Why did we not care about the pants having a hole in them? There are two reasons:

1.       People generally don’t pay attention to what they wear or use everyday

2.       Because we don’t think the money was enough to worry about it.

In many business scenarios, professionals let money go down the drain because they don’t understand or recognize there is a problem.  They simply let money filter out of their pockets because they figure the problem is not large enough to worry about. In the long run, some businesses let these scenarios get so bad that they end up losing hundreds of thousands of dollars! So please, for your business, go to a seamstress. Find an expert that can fix your issues and stop your from losing money. That way you can work confidently knowing that you are doing everything that you can for your company.

Limitless Technology ~ CRS

www.limitlesstechnology.com

407-330-4466

Limitless Technology~Cost Reduction Specialists would like to wish all our customers, friends, and associates a Happy 4th of July. We are proud to live in a country that celebrates freedom and independence as a part of our culture.

We would love to celebrate with all our customers, however we will be out of office for the holiday. Have a fun and safe 4th!

Phone: 866-504-4050

www.limitlesstechnology.com