Growing Income AND Expenses for Business Growth!

Generally, entrepreneurs think that if they want to create growth in their business, they need to focus on increasing income.

While this may be true and makes logical sense, there is a very interesting thing about expenses that you may be missing out on.

If you truly want to create consistent, long term, sustainable growth in your business, it is actually extremely important that you focus on your expenses!

Depending on which category the expense falls into, you may need to either eliminate, minimize, maintain, or even INCREASE expenses for the business growth!

This thought process, of increasing expenses (the right kind), for creating sustainable business growth, can seem counterintuitive, and emotionally challenging.

Yet, this is KEY to create an upward spiral of wonderful growth in your entrepreneurial journey.

4 types of expenses in business:

• Destructive expenses - These are expenses that are actually damaging your business and these expenses should be ELIMINATED as soon as possible from your business! Ex: (Extra fees, customer complaints, etc.)
• ​Protective expenses - These are expenses that are necessary and provide peace of mind for you in your business. These expenses should be in place and be MINIMIZED based on your business’ needs. (Ex: insurance, legal entity, legal agreements, etc.)
• ​Maintenance expenses - These are the basic operational expenses. These expenses should be MAINTAINED on a healthy balance for business to operate smoothly. (ex: salary/wages, office space, utilities, etc.)
• ​PRODUCTIVE expenses - These are required for growth of the long term business. These expenses must be PROACTIVELY INCREASED because they are an INVESTMENT INTO THE BUSINESS which brings in an ROI for the company’s long term future. (ex: personal growth, marketing, sales, brand strategy, continuous improvement of systems & processes, networking, coaching/mentorship/mastermind, etc.)

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​Logically, you may know that all expenses are not created equally. 
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Emotionally, how you FEEL about expenses may not match your logical understanding. 
This can be a blindspot and could be creating resistance in your business growth.

When you are ready to fully understand the emotions you feel towards expenses in your business, click here to schedule your complimentary empowerment session.