A short business-advice clip (YouTube) offering practical financial-management strategies for small businesses: cut wasteful marketing spend, monitor labor as a percentage of total costs, and run vendor-management reviews to identify unused subscriptions and reduce expenses. Emphasizes adding context to raw numbers before judging them.
Questions this video answers
$3,000 per month.
About $36,000 returned to the bank account.
55% of total cost.
Over $20,000 in paid subscriptions.
Chapters
We had a client who literally, oh, it looks like you're spending $3,000 a month on marketing. What's your ROI? I don't have any. And then they stopped paying $3,000 for something that wasn't getting them an ROI. Well, like $36,000 back into your bank account. Boom. Right. So there's the P and L, there's the balance sheet. Right. What's it look like right now? And what's. What. What can I look at from a labor. Like, labor is the big one. What does my labor look like in percentage of total cost? And if you're above 55%, why? It doesn't mean it's bad. That's a key thing. Numbers inherently aren't bad. It's the thing that got you there. And the context, which is what comes when you work with somebody who can help provide context. And then the other one is the third one would be like a vendor management report. Try to figure out where you're putting your money to. You might not realize. Like, again, just as an example, we've had clients where we've uncovered $20,000 plus of paid subscriptions that were of no use whatsoever, just purely outdated money going out. So if you could keep an eye on where the trends are, it could peak start curious, you know, risk, you know, why did it get there? Or why is it working? And then you could double click on it. And then with the vendor management report, it gives you perspective on how to reduce your expenses.