THE ENTRECODE BLOG
The easiest way to make money is to stop losing it…
One of the major challenges facing a number of my clients and most businesses right now is responding to the economic situation in the appropriate manner.
After several years of growth and largess, sales are diving but many businesses have been caught like rabbits in car headlights. How to respond? What to do? One thing is clear, they need to continue with a positive cash flow and preferably profits are paramount. If sales can’t go up then costs must come down and in many cases drastically. To enable businesses to make the right decisions they need accurate costings allocated to products or service streams.
Where are we making or losing money? What is a must and what is a luxury we can no longer afford? Some managers are good at growth, others excel when the going gets tough. The problem is that they are usually not the same people…
So get the facts, identify your winners and cut out losers. Do it now before it’s too late! If you’re waiting for government policies, better economic conditions or a lottery win you are deluded.
JFDI!
