It’s easy to overlook small costs. A software subscription here, an unused service there, and before you know it, you’ve got hundreds of pounds leaking from your business every month.

Step 13 of the Plan, Profit, Prosper planner is about plugging those gaps. Reviewing your recurring expenses is one of the fastest ways to improve profitability without changing your pricing, product, or sales volume.

Step 13 is a quick win for your bottom line. Take a fresh look at your recurring expenses:

Why It Matters

Over time, forgotten subscriptions and outdated supplier contracts quietly eat into your margins. These hidden costs might seem minor in isolation, but together, they can seriously reduce your profitability, without adding any value to your business.

A regular review of your expenses helps you stay lean, agile, and ready to reinvest that cash where it really counts, whether that’s technology, marketing, staff development, or simply giving yourself a raise.

Audit Your Software and Subscriptions

One of the biggest culprits? Software.

Even low-cost tools can become expensive when licences build up across your team, especially when no one’s actively using them. Review your software stack quarterly. Cancel or downgrade anything that’s underused or unnecessary. And always look for alternatives that offer better value or bundled features.

Those “small” monthly fees may be flying under the radar, but cutting them can save your business hundreds, even thousands, over the year.

Use Budgeting Tools to Track Spending

Forecasting and budgeting tools help you track spending against expectations in real time. They highlight trends, flag unusual charges, and make it easy to see when something doesn’t line up.

This gives you time to act before a cost becomes a problem, rather than finding out too late when your cashflow takes a hit.

Renegotiate Your Supplier Contracts

Don’t assume your supplier’s annual renewal is the best deal on the table.

Whether it’s insurance, utilities, software licences, or outsourced services, many providers raise their prices quietly, hoping you won’t challenge them. Make a habit of reviewing contracts annually and asking for updated pricing.

Loyalty and consistency should work in your favour. Ask about discounts, loyalty rates, or extras. Even small savings add up over the course of the year and help protect your margins as overheads continue to rise.

Get the Business You Want

Every pound saved is profit gained, and smart expense management is one of the most powerful tools in your business toolkit.

Use Step 13 of the Plan, Profit, Prosper planner to audit your outgoings today.

Want a fresh pair of eyes on your P&L or help identifying hidden costs? We’d love to help.

Start today: Download the planner and take Step 13 now