Scott, your article and analysis are very insightful. It's the perfect reminder that every business needs to frequently evaluate every line item in their P&L for cost savings. So many expenses "creep up" with time that they go unnoticed!
I like your reference to your margin. As your recurring expenses are reduced, your margin improves, leveraging your profits. Margin is a key Lever a business should work to improve constantly!
I look forward to learning more from your references and other books, too!
The B message here is around priorities. So often we say we prioritize learning, professional and personal development, etc. But recapture and reallocate reveals where and what we are REALLY investing in.
I do a R &R quarterly and every time I not only recapture revenue but also find some surprising investments that don’t align with my espoused priorities!
Wow, this hits close to home! As a Professional content writer, I always feel the stress to chase more income, particularly when things feel tight financially. But the concept of "recapturing" revenue by optimizing expenditures and strategies are immersing and refreshing.
I value the example you shared about lessening discretionary spending. It goes to show that tiny modifications can direct to significant savings and actually improve your experience. I'm absolutely inspired to do a similar audit of my own expenses, both personal and business.
The business revenue recapture example is even more powerful. Saving a handsome amount a year with just an hour of effort approximated to the threat and nuisance of generating additional sales, omg! That's a no-brainer! Plus, expanding system trustworthiness for no added work is the icing on the patties.
I appreciate these thoughtful reflections, Shivani. I’m glad you found value and utility in this exercise.
It’s a process I often go through when onboarding new clients. More often than not, they recapture more than they are paying for the coaching package which means they are effectively getting paid to work with me!
My greatest takeaway from this valuable post is quality over quantity/less is more. This has motivated me to revisit where I may be wasting resources, especially time. Thank you, Scott!
Your post and YouTube video have inspired me to look at my credit card statement to find those niggling monthly payments that I seem to pay off but never seem to capitalize on. So, thank you. I sunsetted one website (Squarespace) about two weeks ago. And was about to kill off another site (not being updated at all) until a friend offered to pay the hosting fees of $300 for the year. So, it will continue to live on. But I am on the hunt for other "leaks" in my financial system. The big takeaway for me is this - "First, you save a ton of time, attention, money, and effort that would have gone into trying harder to sell existing offers (or creating new ones)." I'm paring down my offerings. The other types of photo requests may still come at me and I may be able to either accept them or decide not to pursue them depending on if they will take my eyes off of my goal. So much to think about and do. I appreciate all of this!
Scott- as always your education is timely. You take a seemingly complex matter and mold it into a doable action. This article takes the fear out of “cutting back”!
Scott, your article and analysis are very insightful. It's the perfect reminder that every business needs to frequently evaluate every line item in their P&L for cost savings. So many expenses "creep up" with time that they go unnoticed!
I like your reference to your margin. As your recurring expenses are reduced, your margin improves, leveraging your profits. Margin is a key Lever a business should work to improve constantly!
I look forward to learning more from your references and other books, too!
Thank you for sharing!
David
I appreciate these reflections, David. Thank you!
The B message here is around priorities. So often we say we prioritize learning, professional and personal development, etc. But recapture and reallocate reveals where and what we are REALLY investing in.
I do a R &R quarterly and every time I not only recapture revenue but also find some surprising investments that don’t align with my espoused priorities!
Thank you, Scott. This explanation is clear and offer a sequence for work that enables me to follow it.
I’m so glad you found it helpful and useful, Penny!
I love how you made the system of recuperate and reallocate very clear on how to implement and what you go out of it. Inspiring.
Thank you for the kind words and generous reflections on this powerful (and simple) practice, Andrea!
Wow, this hits close to home! As a Professional content writer, I always feel the stress to chase more income, particularly when things feel tight financially. But the concept of "recapturing" revenue by optimizing expenditures and strategies are immersing and refreshing.
I value the example you shared about lessening discretionary spending. It goes to show that tiny modifications can direct to significant savings and actually improve your experience. I'm absolutely inspired to do a similar audit of my own expenses, both personal and business.
The business revenue recapture example is even more powerful. Saving a handsome amount a year with just an hour of effort approximated to the threat and nuisance of generating additional sales, omg! That's a no-brainer! Plus, expanding system trustworthiness for no added work is the icing on the patties.
I appreciate these thoughtful reflections, Shivani. I’m glad you found value and utility in this exercise.
It’s a process I often go through when onboarding new clients. More often than not, they recapture more than they are paying for the coaching package which means they are effectively getting paid to work with me!
My greatest takeaway from this valuable post is quality over quantity/less is more. This has motivated me to revisit where I may be wasting resources, especially time. Thank you, Scott!
Thank you for the kind words and generous reflection, Nadine. Less is more, indeed!
Your post and YouTube video have inspired me to look at my credit card statement to find those niggling monthly payments that I seem to pay off but never seem to capitalize on. So, thank you. I sunsetted one website (Squarespace) about two weeks ago. And was about to kill off another site (not being updated at all) until a friend offered to pay the hosting fees of $300 for the year. So, it will continue to live on. But I am on the hunt for other "leaks" in my financial system. The big takeaway for me is this - "First, you save a ton of time, attention, money, and effort that would have gone into trying harder to sell existing offers (or creating new ones)." I'm paring down my offerings. The other types of photo requests may still come at me and I may be able to either accept them or decide not to pursue them depending on if they will take my eyes off of my goal. So much to think about and do. I appreciate all of this!
This is such a great example of the recapture process, Seshu. Well done! I appreciate this share and feedback!
Scott- as always your education is timely. You take a seemingly complex matter and mold it into a doable action. This article takes the fear out of “cutting back”!
I appreciate the kind words and reflections, Lisa. I love the counter intuitiveness of "cutting bald" to get closer to what your want!