GrownUps New Zealand

Running a Business Off the Smell of an Oily Rag

 Read more Oily Rag articles by Frank and Muriel Newman

Times are tough for those in business, and there are lots of us in business. According to the last census there were 330,000 businesses in New Zealand – 87 percent with five or fewer employees. But never fear, when times get tight, there are lots of oily rag ideas to get us through in good shape.

One reader said, "I have introduced an oily rag mentality throughout my business. Everyone in the business has benefited. I have shared the rewards with staff so they are now being paid more and the business is more profitable so their jobs are more secure, and I am doing better too. It's a win-win." Another said they increased business profit from $20,000 to $50,000 in a single year!

So here are just some of the many ideas to help you run a business off the smell of an oily rag.

Running a business off the smell of an oily rag is really about asking the question: can it be done cheaper with the same or better results? Doing this is good for everyone – you will increase your profits, your staff will continue to have work, and your customers will be able to buy your goods at a price cheaper than your competitors.

If you have a favourite money-saving business tip send it in to us so that we can share it with others. You can contact us via the oily rag website (www.oilyrag.co.nz) or write to Living off the Smell of an Oily Rag, PO Box 984, Whangarei.

* Frank and Muriel Newman are the authors of Living Off the Smell of an Oily Rag in NZ. Readers can submit their oily rag tips on-line at www.oilyrag.co.nz. The book is available from bookstores and online at www.oilyrag.co.nz.