Cost cutting vs. Value creating
My business has had its share of lean years.
But every time the bills start to mount the anxiety starts to deepen, my brain enters into crisis management mode.
And the internal debate is always the same. Should I reduce costs or increase revenue? Because on one hand, cutting costs is immediate and gratifying and cleansing and it has a direct affect on the bottom line.
I remember getting auditing one year and spending two days reducing my monthly expense burden by several hundred dollars. Which made feel like a million bucks, ironically enough. But the problem was, that locked me into a poverty mindset. I started bending over dollars just to pick up dimes. I started operating from money saving mode, not money making mode. And by focusing all of my energies on what needed to be deleted, I lost unrecoverable time that could have been devoted to noticing and nurturing new revenue opportunities.
Not that cutting costs isn’t a vital business activity. But I believe money is flowing into my life from all directions. I hold a mindset of abundance and prosperity in everything I do.
And so, instead of looking to cut costs wherever I can, look to create value however you can.
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Are you trying to save a nickel or make a dollar?
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That Guy with the Nametag
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