Andrew Napolitano and Cutting Costs for Small Businesses
Andrew Napolitano is a Judge who formerly worked for Fox News. He acquired his education at Princeton University and Notre Dame Law School. At one point in his life, he had a private law practice, so he is all for small businesses. He understands the challenges. He also has a Maple Syrup Farm in New Jersey. He has written many books that focus on Americans and their rights to freedom. Napolitano cares about Americans, so he has ways of helping small business owners cut costs. He has written articles for the Washington Times. Here are some suggestions that he recommends:
1. Use a programmable or smart thermostat.
2. Use passive energy-saving measures.
3. Power down non-essential lights, appliances, and machinery after hours.
4. Reduce paper use.
5. Align plant costs with usage.
6. Encourage telecommuting.
7. Downsize office.
8. Improve Health Care.
9. Use High-tech alternatives, instead of outdated equipment.
10. Buy gently used items whenever possible.
11. Pay bills early.
12. Barter whenever possible.
13. Advertise on social media.
14. Know that word of mouth works and get people to do it.
15. Encourage employees to be productive with their time.
16. Contract work out whenever possible.
17. Care about employees’ well being and invest in them.
18. Reward responsible spending.
19. Minimize interest charges.
20. Find the best location for the business office.
21. Join with other businesses for a common goal.
22. Know that there is no such thing as non-negotiable.
23. Buy in bulk when it is smart to do so.
24. Give employees perks and rewards.
25. Find the most cost-effective essential services.
26. Limit travel expenses.
Andrew Napolitano also knows about tax deductions, and the following is a useful list:
1. Advertising.
2. Website expenses.
3. Home office expenses.
4. Business travel.
5. Self-employed Health Insurance Deduction.
And there are also 4 tax tips for all self-employed individuals:
1. Keep all of the records.
2. Have 2 separate accounts; 1 for business, and 1 for personal use.
3. Use a post office box for business purposes.
4. Go easy on deductions.
When it comes to Business Law, Judge Napolitano is the expert and the never fail go-to person. He also has recommendations for strategies to help when times are tough. Here is a list:
1. Eliminate discretionary spending.
2. Be more careful when buying.
3. Look for a less expensive Credit Card Processing Service.
4. Stop paying for equipment that isn’t needed.
5. Renegotiate the lease, and if that doesn’t work, find another location.
6. Sublet unneeded space.
7. Cut Employee Perks.
8. Cut Employee Benefits.
9. Take a cut in pay and cut the pay of the highly paid employees.
10. Shorten the work week.
11. Lay people off.
12. Increase marketing.
13. Cut Business travel.
14. Reduce professional fees.
15. Cut printing costs.
16. Ask creditors to write off some of the debt.
17. Cut back on insurance expenses.
There is such a thing as bad costs, and when that is reduced, it can go for more productive spending.
