Balance cost cutting with investment in growth opportunities

[shaownhasan]

Instead, use a scalpel to reduce costs— bolivia b2b leads making small, precise cuts in areas that won't hurt growth, like cutting software licenses and repurposing those funds into growth areas or subletting excess office space.

The key is to think about these strategies ahead of time. Don’t assume this year will be the same as last year. Have contingency plans in place so you can reallocate resources accurately rather than hastily cutting them. Even in marketing, you can cut resources with precision. Shift resources from underperforming activities to well-performing activities.

By strategically and targeted cost cutting, you free up resources to invest in growth opportunities that drive your business forward.

Many organizations struggle to price their services and products so they can make a profit. As Damian observes, when agencies set prices, they often base their prices solely on market prices or the advice of coaches, without rigorous analysis of actual delivery costs.

“If you don’t do any analysis, your pricing could leave you losing money every time you actually serve someone,” he warns. "It's a good way to go bankrupt."