Yeargin on Management by Bill Yeargin

Author:Bill Yeargin
Language: eng
Format: epub
Publisher: Bill Yeargin
Published: 2021-01-08T09:37:20+00:00

One caveat - while it is certainly a good idea for you to take these steps to review your cost structure, it is also important to realize that only rarely is it possible to cost-cut your business back to profitability. As you reduce expenses, you are also reducing your ability to make money. You want to reduce unnecessary costs but you don’t want to eliminate the possibility of being able to get out of the slowdown. In other words - cut fat, not muscle.

That may sound like a case of stating the obvious, but oftentimes there is a fine balance between the two.

Most importantly, your company must live within its means. If you want to survive long enough to enjoy the eventual recovery, you had better be looking closely at your cost structure today.

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