Managing through the current economy

Managing through the current economy

We are seeing the first signs of recovery (although some may disagree). In any case, Citi Bank, Bank of America and others are, listen well: "starting to make money", and even said they won't need the whole stimulus package. That's great news!
So, what are the best steps companies can take to go through the storm until things get better? Here are five simple ideas that sometimes, for being so simple, are not even considered, but that work!:

1) Who's a got a cell phone in the company? OK, for what purpose. Out all cell phones that are not justified. Not to mention the fashionable Blackberries.

2) Land line is always the cheapest option to make calls. Are you calling from a hotel? Use a calling card, yes, remember?, they still exist. Cell phones are the last resort, especially abroad.

3) Still flying for inter-company meetings? Forget it. Use teleconference services, like Webex, NetMeeting, etc. Also forget about video conferences.

4) As far as layoffs are concerned, be very careful in this area. Many times companies layoff precious resources (so called employees) that will be critical to the post-crisis growth. Not saying layoffs are not an option, just be extra careful.

5) How many trade shows are you attending this year? Why? How about advertising? Are you placing your ads in the right place, for maximum return? Have you updated your message to tell your customers that you are with them in bat times too?

These are five simple actions you can take immediately, and that will cut costs with the least impact on the performance of your company.

Have a Good Business! Hector

hector.barresi@boundlesscoaching.com
http://www.boundlesscoaching.com/
Phone: 775-200-2864