As CEO’s and entrepreneurs, we are all obsessed with growing.
And that’s the right mindset to have.
But every quarter, it really pays to focus on shrinking.
By that I mean looking at ways that you can tighten things financially in your company.
Review all that you are spending on in your company, and get rid of what’s not vital.
Then see if there are cheaper versions of what you need, that are still good.
Cancel apps and software you are not really using.
Consider replacing full time staff with virtual ones.
Contemplate sacking the virtual ones and getting another virtual one who’s better.
Ruthlessly unsubscribe form email lists that just promote and don’t give you value.
Get a cheaper accountant.
Cancel any advertising where you can detect a tangible financial return.
In every way, tighten things up. Reduce the bloat. Eliminate softness in your company.
Then get back to expansion thinking.