Avoid consulting fees or similar services
You may be tempted to hire outside consultants to try and make your business more efficient if you are experiencing financial issues, but often times these services will cost a lot of money without producing tangible results. Instead of hiring someone to tell you what is wrong with your business, try to assess current procedures on your own. You know the inner workings of your company better than anyone. Review existing methods and personnel to see if there are any obvious ways in which you can improve your system. Eliminate redundant positions, jobs that do not generate income and are necessary for your company’s survival.