![]() Market shocks can come from anywhere (we’re looking at you, COVID-19) and having a strong expense management culture can help you not just survive, but thrive. The lesson we can draw from this is that what’s equally important to top-line growth is the costs required to achieve it. In the span of six short weeks, a giant had fallen. It took investors and analysts minutes to see that the company’s losses far surpassed its revenue-for every dollar it made, the company was spending two. Then, their S-1 hit the internet, and the walls began to crumble. Just look at WeWork! At one point, they were primed for market domination and a $47 billion dollar valuation. There are plenty of once-Goliaths that crashed and burned because of poor business expense management. Note: this article is part of our guide to small business expense management.
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