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All companies are guilty of getting fat and ultimately pricing themselves out of the market. To avoid this, try lowering your cost estimates when bidding new jobs in order to remain competitive. Challenge the team which will implementing the project to go to the drawing board and cut their costs to maintain the same gross profit margin. Suggest that they cut the setup time down and run time. Involve your employees and tell them you must take cost out of these products in order to keep getting their orders. It might require several jobs to accomplish your goals to drive down costs but it is worth the effort to see who takes the challenge on your staff and who does not.
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