Cost And Effect
What's the real price of doing business? Dun & Bradstreet and Entrepreneur find out in a new exclusive survey.
In the movie "Dr. No," James Bond is admiring a huge
aquarium in the archenemy's laboratory when a voice from out of
nowhere surprises him. "One million dollars, Mr. Bond,"
Dr. No says, walking into the room. "You were wondering what
it cost." Bond coolly responds, "As a matter of fact, I
was."
Small-business experts say entrepreneurs should be more like
Bond--not necessarily employing a license to kill but being more
concerned about costs. "Usually small-business owners think
growth in sales is all they need to worry about," says William
F. Doescher, senior vice president at Dun & Bradstreet, an
international research-based business information provider in
Murray Hill, New Jersey. "But they might grow right out of
business if they don't watch their costs."
To help small-business owners control costs, Dun &
Bradstreet and Entrepreneur surveyed 501 small businesses to
find out what they're spending on, how it's changing and
why. The results reveal some surprises, a lot of strengths and more
than a few weaknesses in the ways entrepreneurs measure, understand
and control their costs.
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