BONUS TIP: Remember the adage that £1 on your bottom line is worth £10 on your top. Often, the only thing you know when you start your business or enter a new trading month is what you will spend - not what you will earn. Keep on top of your costs, know your P&L inside out, and review it once a quarter as if you were new to the company. Ask yourself if you're happy with what you are spending, and if not, look into what you can change. Typically, I find that you can reduce your cost base by 10% like for like year on year.
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