SOUTHBURY, CT--(Marketwire - Apr 26, 2012) - Most entrepreneurs work hard for every dollar earned. Business owners know all too well that business growth often goes hand-in-hand with a growth in operating expenses. As National Small Business Week approaches (May 21st), Brian Miller, president and COO of Expense Reduction Coaching® (ERC), wants business owners to know that, typically, the gradual increase in operating costs stems primarily from inadequate oversight.
"To ensure growth, business owners need to work 'on' the business and not 'in' the business," says Miller. "By focusing on profit-making efforts, they should leave the day-to-day operational support to staff and other experts. Having a cost-cutting expert on staff or as a coach is one very effective way to manage operating costs and positively affect the bottom line."
Miller adds, "Industry research cites 67 percent of CFOs believe managing indirect expenses is an important strategy for improving their business. Approximately 50 percent said 'lowering costs from suppliers' is one of their biggest challenges in expense management."
As cost-cutting experts, ERC coaches are highly-trained to help business owners reduce long-term costs by analyzing their client's expenses, negotiating or re-negotiating with suppliers and making recommendations which result in long-term savings. As entrepreneurs and franchise owners, ERC coaches focus on helping companies and organizations realize measurable cost savings in various indirect expense categories including:
"There are so many incidental and unnecessary charges that suppliers slip in to increase your bill," says Miller. "If you don't know how to read the invoice and understand exactly what you are paying for, chances are you are being overcharged."
ERC's proprietary procurement process and expertise enables ERC clients to reduce costs by up to 50 percent, while in many cases, continuing to use their current suppliers. ERC coaches are compensated solely by the suppliers, based on the actual savings generated.
"ERC coaches find ways to keep more of profits in the pockets of their clients," says Miller. "They start by examining the company's expenditures and then re-negotiating with current suppliers or new suppliers for better prices. ERC fees are based on what coaches save their clients. It's a win-win for all."
ERC's cost reduction program has been in use since 1993 and has been directly responsible for generating significant savings for corporate clients in many industries.
To learn more about Expense Reduction Coaching visit www.ercsaves.com.
Expense Reduction Coaching (ERC) has been established since 1993 and is directly responsible for generating significant operational savings for corporate clients in many industries. ERC targets "indirect and consumable" expense categories and identifies the most common profit leaks. ERC's goal is to negotiate and generate long term savings while using their client's existing and alternative sources. ERC is ranked on the prestigious Entrepreneur Magazine's 2012 Annual Franchise 500 list. ERC is a business coaching brand of Franchise Source Brands International (FSBI). To learn more about Expense Reduction Coaching visit www.ercsaves.com.
Cynthia L. Schick