As your business grows, you’ll likely have more capital in rotation. As you bring in more money, you will also need to spend more to continue growing.
However, it’s important to ensure that you’re not spending in excess and are still saving money where you can. Otherwise, you may find yourself in the red and facing some exceptionally difficult financial decisions.
Below, 15 members of Forbes Coaches Council share their best advice for business owners looking to keep their operations lean and save money.
1. Observe, Plan And Earn Before You Spend
Understand, observe and become fully aware of your industry and the needs of your business. Learning to optimize your costs takes time, errors, small tests and planning based on the data you collect every day. Ask yourself what you