
3. Let Savings Compound
You have to struggle tremendously regularly to enable your company to grow and develop and stay competitive. More often than not, the most effective way to boost the bottom line is by reining in your expenses rather than boosting up sales.

There are multiple simple and straightforward ways of saving money to bring down your business expenses:
- Negotiate with your vendors and suppliers for better deals (like reducing the cost of cell phone use or slightly lessening the interest rate on the mortgage once in a year)
- Outsource tasks for which you’re paying much more than industry norms
- Get quotations from multiple vendors for settling on the best rates without compromising on the quality aspect