Many Freakin' Genius Marketing Clients are facing very lean times this quarter. Not like tax season isn't hard enough, so many businesses are looking at downsizing and streamlining expenses in an effort to run at break even.
As a business strategist involved in many different areas of our client's business I am often asked how to prioritize cuts. It is a complicated question that really has a different answer for every individual business. Certainly if your company carries middle management whose main purpose is delegation, cut away. Accountability comes with hard times and those in the delegated areas need to stand up and take responsibility for takin' care of biznezz'. As for management positions that are more in line with Account Management and often times are heavily involved in Business Development and Customer Relationship Management, think "WHOA" before the cutting begins.
I always suggest looking at each line item of the cost of doing business before sending anyone in your company to the unemployment line. Why just last month, by assessing our household line-items we were able to save over $300.00 a month by bundling services alone. One client I was involved with reevaluated their shipping service and saved $800.00 a month by switching providers.
Take some time with your staff, and sit with excel sheets and assess monthly expenditures. Bundle, meet with alternative providers, prioritize, and remember that job responsibilities can be shifted to increase productivity of employees whose jobs need redefining vs. cutting. I have another client who realized they needed to rehire one of their recent layoffs just a week after the layoff to cover new responsibilities as they strategize their future. No one wants to treat people like commodities. Those companies that can be successful in lean times will be the shining stars in fattier times. Which, with some luck, we will see again in the coming years.