10 Top Ways for Your Small Biz to Cut Costs

The U.S. economy has been in a recession since December 2007, so says the National Bureau of Economic Research. Do your best to avoid becoming another business statistic by adopting these 10 cost-cutting steps.

Clean up your act. Give your company a physical, from top to bottom, recommends Mike Bauer, co-author of The Wall Street Diet: Making Your Business Lean and Healthy. That means examining all processes to see if you can be more efficient. Identify areas where you can eliminate waste and duplication.

Focus, focus. Redefine all goals so they are profit-oriented, says David Zahn, a small-business consultant and president of StartUpBuilder.com. And make sure all expenditures produce a return. If that means cutting back on trade shows and using that money for the Web site, then do it. If it requires eliminating a pet project that doesn't contribute to the bottom line, go for it. ...