How to Cut Cost? (Identification of Redundant Costs)

Instructed by BlackStorm Consulting - Online Classes

USD99.90 USD19.90
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Lecture count: 17
Description:
2 Week(s) | 2 Hour(s)

About the Course

While businesses fixate on crafting new offerings for new markets or generating sales, they tend to overlook the fact that while bringing in more revenue for the company is crucial to generating profit, cutting costs can be just as important.

By cutting redundant costs by just a small amount, a business could double its profits without needing a single new customer and without making a single extra product. It won't need to hire more people, enter new markets, or get a new premise - just by focusing on being more effective with what it already has.

Course Overview  

In this course,

(1) Learn to categorise various costs
Learn to categorise various types of costs for better control of cash flow and use of funds.

(2) Understand how to maximise payroll
Learn to maximise payroll and evaluate effectiveness of human capital. Understand the evaluation funnel to restructure the company.

(3) Identify pain points of cost-cutting
Learn to apply the Cash Conversion Cycle (CCC) concept with the aim to identify and mitigate gaps in your company’s cost-cutting exercise.

What is going to be covered

  • Identify Cost Structures
  • Differentiate Cash Flow and Account Items
  • Understand Sales, Profit, and Cash
  • Identify Different Types of Cost
  • Learn the Importance of Understanding Cost Types
  • Learn to Evaluate Human Capital
  • Learn the Steps of Laying off
  • Apply the Cash Conversion Cycle (CCC) Concept

Learning Resources  

  • (Slide) Courseware – How to Cut Cost
  • (Excel) Worksheet – How to Cut Cost – Activity 1: Expenses Categorisation and Cash Flow Overview
  • (Excel) Worksheet – How to Cut Cost – Activity 2: Payroll Overview
  • (Excel) Worksheet – How to Cut Cost – Activity 3: Accounts Payable Summary

Suitable For  

  • Business owners or entrepreneurs seeking to cut costs
  • Business owners performing their own accounting and HR management

Learning Outcomes  

By the end of the course, you’ll be able to:

  1. Understand the differences of various costs
  2. Know how to categorise expenses and and manage cash flow
  3. Learn to evaluate human capital
  4. Apply the Cash Conversion Cycle (CCC) concept

Meet your Instructor  

 

Jeslin Bay
Managing Partner of BlackStorm Consulting

Jeslin Bay is the Managing Partner of BlackStorm Consulting. As a business scaler, she has expertise in business partnerships, human resource, market-entry, and business structuring in Southeast Asia. She also co-founded a fashion brand, SHINE APART that specialises in loud pieces of outwear that are stylish and yet professional.

Being trained in operations and organisation management, Jeslin also conducts deep analytical dives into target subject matter, both internally and externally. Her responsibilities also include the formulation of frameworks and business tools to provide objective and innovative solutions to the clientele, as well as business development.


Instructor

BlackStorm Consulting


BlackStorm Consulting is a boutique growth consultancy firm that helps organisations grow through our extensive knowledge and by tapping on our network of alliances and partners.We encourage innovation by maintaining an ecosystem for our stakeholders to communicate and collaborate. Our clients and partners are internationally present and range from small and medium-sized businesses, corporates,to government agencies.

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