Part of our business is meeting people. That’s how we find clients. But meeting people is expensive, because it takes a lot of our time and we can’t bill for that time.
An easy way to cut our budget would be to stop spending time meeting people. We could maximize our billable hours and bring in more money.
Until the money stops flowing because we haven’t met any new clients. As much as our existing clients love us, they only have so much work for us.
We have to look at both the short term and long term costs and benefits. Short term we lose a little money by going out and meeting people. Long term we have a continual flow of work and get to keep doing what we do.