Though there are seemingly endless ways to improve your profitability and cash flow, most relate to either growing revenue or cutting costs and so we asked some very wise business owners and creatives to talk to us about how they think about which matter more.

Marquis Mckenzie

I think cutting cost in my industry doesn’t solve anything. So I rather focus on growing my revenue. Read more>>

Joe Sardano

Both matter, especially when you are a public company and investors determine the value of your company. Wall Street is impressed with companies with great ideas that are also fiscally responsible. It’s important to know that cutting costs to increase your revenues doesn’t mean losing employee. It should be the opposite, where your growing staff buys into fiscal responsibility and discipline. Provide your employees stock options so they have real incentive and an ownership stake in the company. You’ll see how important revenues versus spending will be to them. Read more>>

Catherine Latoya Grant-Alston

Many people running businesses think that growing or scaling their business requires choices to either increase revenue or cut costs. Sometimes your business requires you to do both. Other times, you need to make investments to get to the next level. Those investments include hiring staff, investing in technology, or coaching/education. There are so many elements governing business finances that are not simple revenue and cost. The true components that matter in business are understanding the story that your finances tell, the trends, and who your business serves. Read more>>

Anr Ear.

When it comes to cutting cost any sweat equity is the answer. Especially as a startup cutting cost contributes to revenue. Read more>>

Stephanie Gabrus

Grow revenue while thinking outside the box. Read more>>

Danielle Ledezma

Grow revenue!! Everything costs either time or money, both of which are very finite. If I’m able to put more of my personal time into something to avoid hiring someone else or paying for someone else to create it, then that’s a great way to cut some costs. However, I find focusing on creating more revenue really drives profitability. For example, I just started leasing my own studio space (previously I rented by the hour from other existing studio) and the monthly expenses increased exponentially. Read more>>