Your Biggest Expense is . . .
Most business owners and managers—as well as heads of households—are legitimately concerned about expenses. We watch the price of gas, utilities and other commodities rise all too often—and they seldom go down.
But one of the expenses that gets little notice is the money we don’t earn.
There are so many ways to earn income today. Whether it be increasing a current revenue stream or creating a whole new one, there are infinite possibilities. You find what you’re looking for and all it takes is a willingness to look and a little innovation.
The problem is most of us get into a rut doing the same things over and over. We focus mostly on increasing sales and reducing expenses. That’s OK, but it limits us. It keeps our head down instead of looking around for new opportunities.
There are always underperforming products and services. There are always new and different ways to generate more income.
Where could you generate income from unused or underutilized resources? Ask the question. Ask your team. Ask your advisors.
It requires different thinking. But if you think of your biggest expense as being the money you don’t make, you’ll start to find ways to generate new and different revenue streams.