Business Focus Weekly
A publication focused on helping your business to grow and become more focused.
Hot Tip of the Week

Did you know that there are 5 ways to measure your business activity that can greatly impact revenue?

  1. Leads generated
  2. Conversion rate
  3. Number of transactions
  4. Average $ sale
  5. Profit margins

For information about the 5 ways, and developing financial acumen in your business, contact us!
This content is brought to you by ActionCLUB.
Client Spotlight: Expense Reduction Analysts
Owner: Omar Sabouni
That's very interesting...

Over time, the depth of expenses incurred by growing businesses tends to take on a life of their own. 

From information technology to LTL freight, or MRO supplies, to food and uniforms, it takes resources to procure and manage products and services to keep businesses operational. 

Expense Reduction Analysts is a 25+ year old international consultancy that has the knowledge and resources to help manage "tail spend", that 20% of indirect expenses that all businesses have. 

Omar Sabouni Ph.D. is a local consultant to ERA and understands business operations, expenses, and how to work with suppliers.

 "I personally help businesses and non-profits to reduce their expenses by evaluating current spending patterns using our benchmark data. Our category experts evaluate alternative solutions and options. If business owners and executives like those options, we help implement and monitor changes," Sabouni said. 

The business model for ERA is unique in that they aren't paid for their services until they save the company money. As a result, Sabouni said, "Our services are self-funding," meaning that they are paid not from the general budget, but from the cost savings they generate.

"I have no reservations telling prospective clients that the worst thing that can happen if they engage with us, is that we can prove for free whether they are paying competitive market rates for the products and services they buy," Sabouni said. 

They provide services in over 40 categories looking at expenses like banking and financial (insurance, credit), advertising, copy supplies, facility management, energy/waste, IT expenses, medical supplies, chemicals, consumables; HR admin uniforms, linens, and much more.

Sabouni said that some of their best customers can be non-profit organizations where ERA will allow them to focus more of their resources into fulfilling their mission; Professional and medical service firms who need to save on everything from medical supplies to copiers; and finally manufacturing companies seeking cost savings in everything from insurance to industrial gases. 

"Cost optimization is something that all businesses should do diligently, and all business owners should have a continual focus on cost reduction, rather than just limiting cost increases."
Expense Reduction Analysts
Omar Sabouni, Ph.D.
Principal Consultant 
Expense Reduction Analysts
PO Box 8648 Spokane, WA 99203
M: (516) 359 - 8329
W: (509) 381 - 5484

Offer: Complimentary opportunity assessments - if you aren't sure where you need to save money, Sabouni will show you where you are spending and where you can save money from a high-level perspective.

Why Business Coaching?

When did you start coaching and why? "I did it because I've been an executive for a long time. I have never been responsible for managing my own business - I was used to working in corporations." He said he had moved here from the East Coast and thought it would be a good idea to meet with a local business coach to get the lay of the land here in Spokane. "When working on your own, it's nice to have a regular connection with a business coach."

What impact has coaching had on your business? "The biggest thing is making the change to being autonomous, after working for others. It can be challenging. I don't have employees right now; but when you are responsible for your own schedule and priorities every day - you have a different type of accountability," Sabouni said.

What are you looking forward to in the future of your business? "Building out more of a practice in this area; if my business does well, other businesses do well - I want to be a resource and help as many people as I can," he stated.
Coming Events
Space is limited, register today!
ActionCLUB - Business education in a weekly format for business owners. Meets Wednesdays from 11 a.m. - noon., 12 weeks, weekly sessions. Free to clients, only $99/month for non-clients. Learn more.

GrowthCLUB - Quarterly business planning event for business owners to set goals and learn from experts. You just missed out on 4th quarter planning for your business! Save the date for the next one, January 8, 2021.
Useful Business Thought of the Week
The Basics of Financial Management for the Business Owner

Start by understanding how you feel about money - do your perceptions about making money in your business hold you back or propel you forward?

Ask yourself, why is money important?

Your best bet, if you aren't naturally financially minded, is to work with someone (CPA, bookkeeper, business coach) who can show you how to read a profit and loss statement, statement of cash flows, and balance sheet. Once you begin to understand your expenses, assets, revenue, and money flowing in-and-out of the business, you'll have a better handle on how to become profitable.

Or call us to discuss how to get a handle on your money via business coaching, 509-455-5053. Consultations are always free!