Manage Your Budget & Control Your Cash Flow by the SBDC

Description

We’ll explore GrowthWheel’s “Roads to Profitability” Framework, which outlines different ways in which companies can be more profitable by increasing revenue and/or reducing costs. Ways to increase revenue include at least 4 different approaches mentioned in the Framework. Likewise, there are 4 different approaches to reducing costs. A key point of this Framework is that it is necessary to prioritize the approaches that are best suited for increasing profitability on either the short or long term. Topics for Discussion: Are there one or several opportunities for increasing revenue? Which way would be best suited for reducing costs? Would reducing the costs be more beneficial to the company than increasing revenue, or vice versa? Does any specific way of reducing costs work well with one or several ways of increasing revenue?