A growing business has expenses. Use these steps to cut costs and ramp up your profits in 2013.
Once a quarter I sit down with our CFO and review our budget, projections for the upcoming months, and ways to reduce or control overhead to ramp up profitability.
In the zeal to grow a small business managers and CEOs all too often focus on revenues and not profits. Increasing revenues is vital to a growing business. But cost increases that outpace gains in month-over-month revenue can deteriorate the profitability of a sustainable business if not kept in check.
As such, as you grow your business create a checklist of costs you annually, bi-annually, or quarterly check and audit so that you can cut costs where possible increasing the overall profitability of your business.
…to read this article in full, visit leading US small business resource, Inc.
