Cost cutting made clear: Nick Devine

Sales expert Nick Devine has some tips on how to manage your costs like a turnaround.

In a recession, the first action that most company owners take is to cut costs; their assumption being that if revenue is reducing and so should costs.  This is a necessary – but not sufficient, plan of action. 

If you cut costs the wrong way or in the wrong parts of your company, you can make your business terminally ill.  When the recession ends you won’t be able to grow again.  If you cut on activities that generate revenue you force your company on a downward spiral that can be very difficult to reverse. 

I’ve listed below many of the tips and tricks I’ve learned over the years when it comes to cost management.  Remember that you can get a handy PDF of this blog post by completing the box on the right. 

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