Conduct Quarterly Cost Reviews

| By Mike Michalowicz (Google+)


In this episode of On A Roll, Mike Michalowicz explains why businesses need to analyze their costs once a quarter. Big savings could ensue!



Posted in Money Strategies,

5 Responses to “Conduct Quarterly Cost Reviews”

  1. Map says:

    That is a good discipline…. to do it monthly. I sign up and test lots of different services for my business

  2. How often do you do a cost analysis? Be honest….

    • Monthly. I sign up and test lots of different services for my business, and if I find it’s not fitting in my workflow, I cancel them.

      • That is a good discipline…. to do it monthly. Has any of the costs ever snuck by you? I am wondering if monthly is too hyper-vigilant. I would love to hear more about your experience.

        • A couple have, yeah! These have mainly been educational or learning sites, and I do evaluate those every quarter because if I’m not learning anything new from them, then it’s wasted money.

          I tend to evaluate web services on a monthly basis. Sometimes semi-weekly. I’ll sign up, then mark on my calendar when the billing date is. If I haven’t used the service at least four times by the next bill date, I cancel it. It’s got to find a way into my regular workflow in order for me to keep paying to use it. Lots of these services also offer free 14- or 30-day trials, which makes trying them out a lot easier.

          It sounds hyper-vigilant, but it’s really not. I do this with maybe 4-5 services a month, and set reminders on my Google Calendar. It’s become a regular habit and it keeps me on top of my finances pretty well so I can budget towards other expenses.

          (BTW, looking forward to seeing you on creativeLIVE in a few weeks! Already bought The Pumpkin Plan and plan to read it by then.)

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