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The old adage of 'turnover is vanity, profit is sanity' doesn’t seem so relevant in today’s world of unicorns with the likes of Uber and WeWork reporting continual losses.
So how do you compete in this fast-paced world? Do you have to take the short-term hit on margins to invest in tech and people to help you scale in the long term? If so, when should you do this? And how will you manage the risk?
And if you are scaling with profit in mind how do you avoid succumbing to the ‘diseconomies of scale’ which many business owners face? As they grow, top line profit increases but not at a sustainable rate, so margins decline. At this roundtable, we'll discuss how to conquer your growth ambitions, whilst keeping an eye fixed on the numbers to ensure you scale successfully whist managing risk.
This roundtable will look to explore, but will not be limited to:
- Tactics for maintaining stringent control and keeping a clear view of your finances
- Techniques to save money as operating costs increase - e.g. looking closely at the cost of sale and reducing overheads
- Overcoming the costly challenges of scale - e.g. recruitment and tech