If you are under 30 you may feel that the end of the world has come. For many companies and individuals this is going to be a grim time but there is a light at the end of the tunnel and it's not an oncoming train.
Here at Cavell we're all old enough to have been through numbers of economic cycles and have built up some distilled wisdom to help you survive and profit through the downturn.

• Firstly focus on cash - hang onto to what you have and become the "squeaky wheel" that your customers pay first - incentivise your credit controller.
• Secondly treat this as an opportunity to really understand what is at the core of your business, what is unique, what do your customers value about you, and focus on that.
• Stop doing anything that isn't core and rationalise your operations. We work with companies to rationalise and cost reduce their networks, products and services and its surprising how much cost you can save if you take an objective view. Get some outside help because that will give you an objective view and make it much easier to take out some of the pet projects that mushroom in good times.
• Be realistic about revenue expectations and get your costs in line - if you have to cut then cut hard, deep and once - do not salami slice.
• Make sure your best people know you value them.
• Do one new and innovative thing for the future (if you need help figuring out what this is we can help). Put your best people on it and build hope for the future.

For more information about how Cavell Group can bring their experience to your business contact us on consulting@cavellgroup.com

Posted by Pat Chapman Pincher

Tags: experience | cost cutting | cost saving | recession