Friday, May 01, 2009

Tackling the Profit Munchers

This morning we had a great session at Surrey Enterprise Hub (soon to become an Innovation and Growth Team) in Guildford. The entrepreneurs who attended our breakfast workshop were all keen to learn new hints and tips to help them focus on building profitable relationships and avoid contract clauses that would munch away at their margins!

Everyone engaged actively in our workshop activity, achieving an impressive amount in a limited amount of time and leading to a very lively and interactive session.

One key learning point from the session was the importance of clearly defined client responsibilities, and the potential for making your own service more cost-effective by getting the client to deliver parts of it themselves! At a time when cost-reduction is all important, this is a useful tool for reducing your price without reducing the total value of deliverables to the client. In particular, using their administrative resources to perform routine research is a great way to cut your costs without cutting quality.

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