Regardless, looking at your revenue per FTE (full-time employee) is a good place to start. That KPI should be close to $500,000 per full-time employee. If you are coming in under that, start looking at where on your team you can redirect their time to be revenue-generating or reduce labor time and cost.
Other expenses that tend to be fairly easy to reduce include outside contractor expenses, unused subscriptions and travel expenses. It’s a wise practice to review these expenses, one by one, every single month.
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