I welcome you to my blog. We all must have heard of the importance of cutting costs, but many people try to apply this even in places where they should not even try to or even think about it. For those who do not know, "cutting costs," in layman's terms, can simply be defined as an act of reducing expenses so you will have some money left after purchase or after you are done with a project. Some people think cutting costs means compromising, but they are wrong; cutting costs does not mean you should go for way cheaper materials or compromise the quality of a product.
You can cut costs by reducing waste and trying to know the exact amount of money and materials needed to see a project through. When I was working on the construction of a drying cabinet for my final year project, we made the mistake of buying every material needed, ranging from the wood to the aluminum sheet, in excess, and that cost us lots and lots of money. After the project was concluded, every material that was left was considered a waste, and there was no way we could sell them off and get back our money.
If we did not buy materials in excess, I can comfortably say that we would not have spent as much money as we did on construction, so one way to go about cutting costs is avoiding waste and knowing the exact amount of materials needed to see a project through.
Another way to cut costs without compromising is to go for alternatives that are cheaper. We could actually construct my drying cabinet with stainless steel, but anyone who is into construction knows that stainless steel is way too expensive, and we went for aluminum sheets instead. They are cheaper and can do exactly what stainless steel would do. You can see that we did not compromise; we cut costs and still got the job done.
Many people, once you mention cutting costs to them, think what you are trying to say is for them to compromise or go for way cheaper alternatives that cannot get the job done. A few weeks back I shared a post about how a house owner failed to add an earthing rod to his building because he was cutting costs, and that resulted in a fire outbreak. Cutting costs does not mean you should compromise or do the wrong thing; instead, it means doing the right thing but in a more economical way.
