201. How we’re turning from the red to the green by cost reductions
05/28/24 • 7 min
Navigating the unpredictable tides of financial management in a newly acquired business is no small feat; it's a journey riddled with tough decisions and strategic pivots. This episode is a raw and real look at the hard-hitting changes we've made to ensure the survival and future success of our venture. We've crunched the numbers with our accounting team and faced the stark reality of monthly losses head-on, prompting a significant overhaul from staffing to sales strategy. Join us to uncover the cost-saving measures that could lead to a $9,000 monthly reduction and the emotional toll that comes with running a business.
Stepping into the trenches of entrepreneurship means being ready for the frontlines of personal sacrifice and strategic maneuvering. I share my candid experience of taking over the reins as a business owner, revealing the sobering truth behind consecutive losses and the immediate actions taken to steady the ship. Hear about the silver linings amidst the struggles, including how upfront payments may blossom into stable cash flow, and the potential for our business to not just weather the storm but come out stronger on the other side. If you've ever wondered about the gritty realities of business ownership, this episode lays bare the dedication and determination it takes to turn the tides.
Navigating the unpredictable tides of financial management in a newly acquired business is no small feat; it's a journey riddled with tough decisions and strategic pivots. This episode is a raw and real look at the hard-hitting changes we've made to ensure the survival and future success of our venture. We've crunched the numbers with our accounting team and faced the stark reality of monthly losses head-on, prompting a significant overhaul from staffing to sales strategy. Join us to uncover the cost-saving measures that could lead to a $9,000 monthly reduction and the emotional toll that comes with running a business.
Stepping into the trenches of entrepreneurship means being ready for the frontlines of personal sacrifice and strategic maneuvering. I share my candid experience of taking over the reins as a business owner, revealing the sobering truth behind consecutive losses and the immediate actions taken to steady the ship. Hear about the silver linings amidst the struggles, including how upfront payments may blossom into stable cash flow, and the potential for our business to not just weather the storm but come out stronger on the other side. If you've ever wondered about the gritty realities of business ownership, this episode lays bare the dedication and determination it takes to turn the tides.
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Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.
Business Buyer Diaries: the Reality Before, During, and After - 201. How we’re turning from the red to the green by cost reductions
Transcript
All right . Well , we're up with the accounting team
Speaker 1Because , yeah , we're a few days after the month , so we got to see how October , november and December panned out . They're really good . They do a little space in accounting . The easy way of accounting . If you look at how your bank is doing in accrual , that's more like moving
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