How regularly do you evaluate your expenses?
Answered by:
I have always believed in something that I learned in Business 101 fifty years ago. To stay in business one must grow revenue and keep expenses low.
For decades I have looked at my expenses on a weekly basis but now with my business in the toilet I look at them daily. I cut where I can cut without hurting my business. I am constantly looking for ways to grow revenue and keep my expenses low. The same thing I learned fifty years ago.
Sidebar: One of my suppliers waited to long to cut expenses and sadly now they are out of business. It doesn't do any good to just watch your expenses, you must act or react to the changing times.