Cost Reduction: Improve Your Department's Bottom Line | Chris Croft | Skillshare

Cost Reduction: Improve Your Department's Bottom Line

Chris Croft, International Coach

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36 Lessons (2h 20m)
    • 1. What to Expect

    • 2. Introduction

    • 3. Identify Main Areas

    • 4. Pareto - Do Your Costs Cluster Together?

    • 5. Comparing Cost vs Income

    • 6. Are Your Customers a Cost?

    • 7. Wrap Up

    • 8. Bad Time Management

    • 9. The Cost of Low Morale

    • 10. Bureaucracy and How to Reduce It

    • 11. Only Have Brilliant Meetings

    • 12. Effective Uses of Management Time

    • 13. Utilisation of People

    • 14. The True Cost of Staff Turnover

    • 15. How to Choose Who to Fire

    • 16. Better Alternatives to Firing

    • 17. Reorganisations - Good or Bad?

    • 18. Wrap Up

    • 19. Introduction

    • 20. Stock - The Hidden Curse

    • 21. Is a Central Purchasing Department a Good Idea?

    • 22. Are Sub-Contractors more Expensive than you Realise?

    • 23. What Is Your Optimum Quality?

    • 24. Effectively Managing Queues

    • 25. Bottlenecks

    • 26. Poor Utilisation of Assets

    • 27. The Real Cost of Bad IT

    • 28. The Small Stuff

    • 29. Get Value From Marketing

    • 30. A Lack of Investment Can Be Costly

    • 31. Your Company Culture

    • 32. Wrap Up

    • 33. Introduction

    • 34. Top 10 Things to Measure

    • 35. Top 10 Actions to Take

    • 36. Conclusion


About This Class

Cost Reduction: Improve Your Department's Bottom Line

Cost Reduction - identify costs in your business that can be cut without negatively affecting your quality or customers. Maximise profits and motivate your workforce.

Cutting costs in your organisation can make a huge difference to the profit margins? Imagine if you wanted to double your profit... To do that could you sell twice as much, or manufacture twice as much? Could your company grow to twice the size it is now within the same market? Well guess what - you don't need to! By cutting your costs by just a small amount you could potentially double your profits without needing a single new customer and without making a single extra product. You won't need to hire more people, enter new markets, or get a new premises - just focus on being more effective with what you already have. Cost Reduction training can make all of these business goals come true.

In this course you'll learn practical techniques to identify wasted budget in your company, detailed tips for analysing the effectiveness of your biggest costs, understand why you should increase your prices or reduce your quality, learn which of your customers are actually loss-making, and dealing with common problems of management and motivation.

After this course your company will be lean, have highly profitable customers, and every part of the supply chain will contribute more effectively. We look at lots of real-life cost reduction examples (some of which will definitely get you laughing) and give you practical tools you can use right away to get better results in your organisation. Whether you're a small family business or a huge multinational this course will build essential skills for your long term growth and short term effectiveness.

In my opinion Cost Reduction is one of the most powerful and underestimated leadership and project management areas. Most companies focus entirely on selling and forget that there are millions of dollars left on the factors floor through inefficiencies and misunderstandings. So, I have created a step by step course you can use to analyse your business and cut out all the waste. Rest assured - you need not make your employees or customers unhappy using these techniques… in fact most likely both will end up better off. Imagine if you only needed to work with your favourite customers, all your employees were highly motivated, and you could produce twice as much product at the same quality level? This course achieves that with simple, tried and tested ideas that have been working for decades.

Chris Croft is an international speaker, and widely published author, who's been teaching Cost Reduction to companies for over 20 years. He's taught all over the world, as well as online, and has an entertaining and practical teaching style. This course is guaranteed to keep you engaged and amused, and teach you life changing skills for home and work.

The course overview includes:

  • How to identify your most profitable customers, and which are loss-making

  • Should you reduce or increase your quality?

  • Motivate your employees to go over and above

  • Highlight missed opportunities to save thousands

  • Understand why a few costs make up most of your expenditure

  • Identify why a simple printer could be the most expensive item in your company

  • And as always it's 100% practical, and with no technical jargon. 

  • And lots lots more!

By becoming great at Cost Reduction, not only will you benefit from happier and easier customers, you'll also have made your company huge savings and healthier margins!