We don’t really like to use the excuse of this crisis anymore to explain all the drastic measures that we as entrepreneurs had to take in order to “hang on” but we are just still in the beginning of the economic mess that is going to change the face of business forever. And with this comes the good old issue of how to reduce, cut or eliminate costs for your business.
Essentially, when the cashflow stops coming in, how do we deal with our own bills and responsibilities? For one, stopping any cash movement that is set by “default” should be a priority. Challenging the need of any immediate purchase or the importance of keeping a certain product that may not perform so well…are these some of the steps you are taking already?
If not, this episode is for you as we are discussing essential methods of managing your costs as a small business owner in 2021.
