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	<title>The Business Owner &#187; Profit Enhancement &amp; Cost Reduction</title>
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		<title>ABC Inventory Control to Boost Profit and Carve Out Tax-Free Cash</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2010/01/abc-inventory-control-to-boost-profit-and-carve-out-tax-free-cash</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2010/01/abc-inventory-control-to-boost-profit-and-carve-out-tax-free-cash#comments</comments>
		<pubDate>Thu, 21 Jan 2010 17:04:15 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=4263</guid>
		<description><![CDATA[The skill of a company in procuring (i.e., purchasing) parts, product and managing inventory can be the difference between success and failure. This is because: 1. The profitability of a business — or lack thereof — is established by the gross profit margin. That is, the profit left over from each sale after the direct expenses are deducted. For many businesses, the primary direct expense is procured product.]]></description>
			<content:encoded><![CDATA[The skill of a company in procuring (i.e., purchasing) parts, product and managing inventory can be the difference between success and failure. This is because: 1. The profitability of a business — or lack thereof — is established by the gross profit margin. That is, the profit left over from each sale after the direct expenses are deducted. For many businesses, the primary direct expense is procured&nbsp;product.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2010/01/abc-inventory-control-to-boost-profit-and-carve-out-tax-free-cash/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Work Sampling: A Method for Assessing and Monitoring Productivity</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/12/work-sampling-a-method-for-assessing-and-monitoring-productivity</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/12/work-sampling-a-method-for-assessing-and-monitoring-productivity#comments</comments>
		<pubDate>Tue, 01 Dec 2009 12:00:13 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[Resources and Tools]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/business-guidance/profit-enhancement-cost-reduction/2009/12/work-sampling-a-method-for-assessing-and-monitoring-productivity</guid>
		<description><![CDATA[Profitability is driven by productivity. You want to increase profits, so your task is to maximize productivity, which is basically a measure of output per dollar of capital deployed. It does not matter what percentage of your dollars (aka capital1) is spent on labor or equipment; the task is the same — to maximize yield.

Two elements drive productivity: Use rate and  Output rate.]]></description>
			<content:encoded><![CDATA[Profitability is driven by productivity. You want to increase profits, so your task is to maximize productivity, which is basically a measure of output per dollar of capital deployed. It does not matter what percentage of your dollars (aka capital1) is spent on labor or equipment; the task is the same — to maximize yield.

Two elements drive productivity: Use rate and  Output&nbsp;rate.]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Assess Organization-Wide Productivity to Maximize Profit</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/09/assess-organization-wide-productivity-to-maximize-profit</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/09/assess-organization-wide-productivity-to-maximize-profit#comments</comments>
		<pubDate>Tue, 01 Sep 2009 12:00:18 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[Annual Gross Profit]]></category>
		<category><![CDATA[Annual Operating Profit]]></category>
		<category><![CDATA[Annual Revenue]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[cost structure]]></category>
		<category><![CDATA[Curtis Stunner]]></category>
		<category><![CDATA[emploees]]></category>
		<category><![CDATA[gross profit]]></category>
		<category><![CDATA[Harley-Davidson motorcycles]]></category>
		<category><![CDATA[LLC?]]></category>
		<category><![CDATA[manufactures]]></category>
		<category><![CDATA[organization-wide productivity]]></category>
		<category><![CDATA[organizational structure]]></category>
		<category><![CDATA[Payroll]]></category>
		<category><![CDATA[price structure]]></category>
		<category><![CDATA[productivity]]></category>
		<category><![CDATA[Productivity analysis]]></category>
		<category><![CDATA[profitable]]></category>
		<category><![CDATA[Stunner Rumblers]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=2965</guid>
		<description><![CDATA[If you want to know how your company is really performing, then it’s time to conduct a productivity analysis. Simply put, are you continually selling your product or service at a profitable price and cost structure? Use these simple tips to evaluate your firm and then you’ll know what you have to do.]]></description>
			<content:encoded><![CDATA[If you want to know how your company is really performing, then it’s time to conduct a productivity analysis. Simply put, are you continually selling your product or service at a profitable price and cost structure? Use these simple tips to evaluate your firm and then you’ll know what you have to&nbsp;do.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/09/assess-organization-wide-productivity-to-maximize-profit/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Time to Exercise Your Option to Buy Out a Partner?</title>
		<link>http://www.tbobeta.com/business-guidance/business-ownership/2009/08/time-to-exercise-your-option-to-buy-out-a-partner</link>
		<comments>http://www.tbobeta.com/business-guidance/business-ownership/2009/08/time-to-exercise-your-option-to-buy-out-a-partner#comments</comments>
		<pubDate>Sat, 01 Aug 2009 15:00:51 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Business Ownership]]></category>
		<category><![CDATA[Business Strategy]]></category>
		<category><![CDATA[Investments & Capital]]></category>
		<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[ownership]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[valuation methodology]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=2071</guid>
		<description><![CDATA[There’s no doubt business profits are down so now might be a good time to buy a shareholder out and increase your ownership percentage. Just hope that shareholder doesn’t have the same idea.]]></description>
			<content:encoded><![CDATA[There’s no doubt business profits are down so now might be a good time to buy a shareholder out and increase your ownership percentage. Just hope that shareholder doesn’t have the same&nbsp;idea.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/business-ownership/2009/08/time-to-exercise-your-option-to-buy-out-a-partner/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Eight Easy Steps to Higher Profit (Internal Benchmarking)</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/eight-easy-steps-to-higher-profit-internal-benchmarking</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/eight-easy-steps-to-higher-profit-internal-benchmarking#comments</comments>
		<pubDate>Wed, 01 Jul 2009 15:00:49 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[benchmark]]></category>
		<category><![CDATA[historical data]]></category>
		<category><![CDATA[Internal]]></category>
		<category><![CDATA[line items]]></category>
		<category><![CDATA[spreadsheets]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=2035</guid>
		<description><![CDATA[Internal benchmarking is a simple method to determine your company’s profit potential based on your firm’s historical annual income statements. By analyzing at least five years of income statements you’ll be able to identify the best historical performance by line item or department. The question then becomes how do we repeat that performance? The beauty of internal benchmarking is it’s low-cost, relatively easy and effective. It can be your beacon of light for continuous improvement.]]></description>
			<content:encoded><![CDATA[Internal benchmarking is a simple method to determine your company’s profit potential based on your firm’s historical annual income statements. By analyzing at least five years of income statements you’ll be able to identify the best historical performance by line item or department. The question then becomes how do we repeat that performance? The beauty of internal benchmarking is it’s low-cost, relatively easy and effective. It can be your beacon of light for continuous&nbsp;improvement.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/eight-easy-steps-to-higher-profit-internal-benchmarking/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Health Insurance Costs Rising? Get Active, Start a Wellness Program</title>
		<link>http://www.tbobeta.com/business-guidance/human-resources/2009/07/health-insurance-costs-rising-get-active-start-a-wellness-program</link>
		<comments>http://www.tbobeta.com/business-guidance/human-resources/2009/07/health-insurance-costs-rising-get-active-start-a-wellness-program#comments</comments>
		<pubDate>Wed, 01 Jul 2009 15:00:22 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Human Resources]]></category>
		<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[aerobics]]></category>
		<category><![CDATA[cost of health care]]></category>
		<category><![CDATA[fitness centers]]></category>
		<category><![CDATA[health insurance]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[pedometers]]></category>
		<category><![CDATA[wellness]]></category>
		<category><![CDATA[Wellness Councils of America]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=2037</guid>
		<description><![CDATA[Every business owner knows health care insurance costs are rising and it’s difficult to keep it under control. But there is hope and it lies within a company wellness program, which can benefit you and your employees. Healthy people are cheaper to insure and research shows that health and wellness programs reduce medical costs and lower absenteeism. You will have to spend money to begin the initiative, but for every dollar spent you’ll get between $3.50 and $6 in return. That’s a heck of a return on investment.]]></description>
			<content:encoded><![CDATA[Every business owner knows health care insurance costs are rising and it’s difficult to keep it under control. But there is hope and it lies within a company wellness program, which can benefit you and your employees. Healthy people are cheaper to insure and research shows that health and wellness programs reduce medical costs and lower absenteeism. You will have to spend money to begin the initiative, but for every dollar spent you’ll get between $3.50 and $6 in return. That’s a heck of a return on&nbsp;investment.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/human-resources/2009/07/health-insurance-costs-rising-get-active-start-a-wellness-program/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Internal Benchmarking: Use Past Performance to Boost Future Profit</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/internal-benchmarking-use-past-performance-to-boost-future-profit</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/internal-benchmarking-use-past-performance-to-boost-future-profit#comments</comments>
		<pubDate>Wed, 01 Jul 2009 15:00:20 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[benchmark]]></category>
		<category><![CDATA[historical data]]></category>
		<category><![CDATA[Internal]]></category>
		<category><![CDATA[line items]]></category>
		<category><![CDATA[spreadsheets]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=2041</guid>
		<description><![CDATA[Internal benchmarking is a simple method to determine your company’s profit potential based on your firm’s historical annual income statements. By analyzing at least five years of income statements you’ll be able to identify the best historical performance by line item or department. The question then becomes how do we repeat that performance? The beauty of internal benchmarking is it’s low-cost, relatively easy and effective. It can be your beacon of light for continuous improvement.]]></description>
			<content:encoded><![CDATA[Internal benchmarking is a simple method to determine your company’s profit potential based on your firm’s historical annual income statements. By analyzing at least five years of income statements you’ll be able to identify the best historical performance by line item or department. The question then becomes how do we repeat that performance? The beauty of internal benchmarking is it’s low-cost, relatively easy and effective. It can be your beacon of light for continuous&nbsp;improvement.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/07/internal-benchmarking-use-past-performance-to-boost-future-profit/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Cost Reduction:  Setting Priorities, Where to Look First</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/cost-reduction-setting-priorities-where-to-look-first</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/cost-reduction-setting-priorities-where-to-look-first#comments</comments>
		<pubDate>Sun, 01 Mar 2009 14:19:19 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[cost cutting]]></category>
		<category><![CDATA[cost reductionHarry E. Figgie]]></category>
		<category><![CDATA[income statment]]></category>
		<category><![CDATA[Jr.]]></category>
		<category><![CDATA[revenue]]></category>
		<category><![CDATA[The Cost Reduction and Profit Improvement Handbook]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=323</guid>
		<description><![CDATA[You want to reduce cost and improve profitability, but doing so takes time. And it's not like you don't have anything else to do. So where is the low-hanging fruit? Where can your efforts produce the highest yield?

The answer is pretty simple. As cost-cutting legend Harry E. Figgie, Jr. explains in The Cost Reduction and Profit Improvement Handbook, just lay out your income statement as follows*:]]></description>
			<content:encoded><![CDATA[You want to reduce cost and improve profitability, but doing so takes time. And it's not like you don't have anything else to do. So where is the low-hanging fruit? Where can your efforts produce the highest yield?

The answer is pretty simple. As cost-cutting legend Harry E. Figgie, Jr. explains in The Cost Reduction and Profit Improvement Handbook, just lay out your income statement as&nbsp;follows*:]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/cost-reduction-setting-priorities-where-to-look-first/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Optimize Your Organizational Structure to Eliminate Waste, Increase Profit</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/optimize-your-organizational-structure-to-eliminate-waste-increase-profit</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/optimize-your-organizational-structure-to-eliminate-waste-increase-profit#comments</comments>
		<pubDate>Sun, 01 Mar 2009 13:59:51 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[cost reduction]]></category>
		<category><![CDATA[Human Resources]]></category>
		<category><![CDATA[optimization]]></category>
		<category><![CDATA[organizational structure]]></category>
		<category><![CDATA[profit enhancement]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=308</guid>
		<description><![CDATA[Let's face it. People make your business "go." No matter how automated or established it may be, it's your people - or call it your talent, human capital or human resources - who pull the strings. They give it life, adaptability, innovation, customer service and personality.]]></description>
			<content:encoded><![CDATA[Let's face it. People make your business "go." No matter how automated or established it may be, it's your people - or call it your talent, human capital or human resources - who pull the strings. They give it life, adaptability, innovation, customer service and&nbsp;personality.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/03/optimize-your-organizational-structure-to-eliminate-waste-increase-profit/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Want to Improve Profit? Everything’s Negotiable</title>
		<link>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/01/want-to-improve-profit-everything%e2%80%99s-negotiable</link>
		<comments>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/01/want-to-improve-profit-everything%e2%80%99s-negotiable#comments</comments>
		<pubDate>Thu, 01 Jan 2009 21:01:21 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Profit Enhancement & Cost Reduction]]></category>
		<category><![CDATA[Business Strategy]]></category>
		<category><![CDATA[ethics]]></category>
		<category><![CDATA[financials]]></category>
		<category><![CDATA[Notre Dame]]></category>
		<category><![CDATA[profitable business]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=241</guid>
		<description><![CDATA[When I was a younger business person I wanted to be well-liked and do things right. Well-liked by vendors, customers, employees and investors. I wanted to solve not just my own problems but their problems, too. I'd pay bills in full even when a vendor failed to meet basic standards of performance. I'd coddle employees who did not give me reason to retain them. And I tried to "do things right," such as volunteer work for philanthropic causes.]]></description>
			<content:encoded><![CDATA[When I was a younger business person I wanted to be well-liked and do things right. Well-liked by vendors, customers, employees and investors. I wanted to solve not just my own problems but their problems, too. I'd pay bills in full even when a vendor failed to meet basic standards of performance. I'd coddle employees who did not give me reason to retain them. And I tried to "do things right," such as volunteer work for philanthropic&nbsp;causes.]]></content:encoded>
			<wfw:commentRss>http://www.tbobeta.com/business-guidance/profit-enhancement-cost-reduction/2009/01/want-to-improve-profit-everything%e2%80%99s-negotiable/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
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