The biggest challenge to all businessmen is how to control expenses. Do your expenses seem out of control? Do you know what and how to control? Here are some tips you may wish to adopt :

1) Plan
Control of expenses is crucial. This is how businesses spend their money that makes them more or less profitable than others. And when you're operating on a shoestring budget, as most businesses are, then planning becomes very important.

2) Measure
Key measure of expense is how much money it generates. Measure each and every business's expenditure by its contribution to profit and to sales.
Then focus your limited resources on the areas of greatest benefit.

3) Tracking
Keep track of expenditures as a percentage of sales and also for each profit
centre in your business. Compare the results with other similar businesses
and to industry statistics. This allows you to time your expenditures to
coincide with cash flow or with the availability of financing, and prevents
unpleasant surprises.

4) Avoid unnecessary spending
What is each expense's contribution to sales and profit? How long will it
take to recoup the investment? What is the rate of return? If the planned
expenditure has uncertain returns, maybe you shouldn't spend the money, or maybe you should take another approach.

Summarised: DKT Business Services Pte Ltd
Sources: Hamilton Ontario of JK Business Service