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Review Spending for Publications and Organization Dues
– February 2, 2011
Organizational dues and subscription fees can quickly add up to a sizeable amount if you are not careful. Being actively involved in various organizations and staying up-to-date on a specific industry is essential in most businesses. However, there might be considerable waste if your employees are not attending the meetings or reading the publications.
Solve this problem by creating a form for use in your firm and ask the following questions: How many meetings did you go to last year? What business did you develop? How many meetings will you attend in the current year? What are your goals for business development this year through this organization? You might find that your employees realize that they do not need to be members after completing this form.
This holds true for subscriptions as well. Try to find ways to share certain publications throughout your organization. It is easy to route magazines through your office.
This is Profit Enhancement Idea #25 in Heard, McElroy & Vestal's 100 Ways: The Profit Enhancement Process series. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues by working smarter, not harder.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is an Audit Manager in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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