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3 Things You Need To Outperform 99% Of Entrepreneurs
My First Million
Lessons Learned in Shifting to EBITDA
The key lessons learned in shifting to EBITDA involve first understanding the right EBITDA target by consulting with industry peers. This includes aiming for a feasible EBITDA margin range, like 10-25%, with a target around 17%. Next, creating an EBITDA budget by allocating percentages of revenue to various categories helps identify areas to increase profit margin. This involves analyzing past spending patterns and adjusting allocations to achieve the desired margin. Lastly, communicating the plan clearly and consistently with the team is essential to ensure everyone is aligned with the new focus on profitability over high growth.
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