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Business strategy
Cutting Costs in Business Without Affecting Quality
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[QUOTE="Mika, post: 282802, member: 29399"] Do you know why Elon Musk fired a lot of Twitter employees after taking over Twitter? Well, the reasons are simple, Twitter is not a profitable company, yet the company was overstaffed. If you are not making a lot of revenue, you should start cutting your business cost. However, in doing so, you should not compromise the quality of the products you are offering. So, how can you do that? Well, cutting cost doe snot mean you compromise the quality, you will have to cut costs in other areas such as staff salary, operational costs, etc. You should also never cut marketing costs because when you cut marketing you might not be making as many sales as you were marking previously. If you are under pressure to cut marketing cost, try to use marketing methods that do not require a lot of investment, for example word of mouth marketing, social media marketing, etc. [/QUOTE]
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