Things You'll Need:
- comon sense
- good management skills
- planning skills
- a realistic attitutde
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Step 1
In order to service as a business in a bad economy evaluate your present list of customers. Are they making you money or costing you money in the long run? How many employees do you have working with them and can you consolidate resources to do the same quality job for less work hours and wages in order to make more money off the same job?
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Step 2
Do not panic and fire competent people. Be loyal to those who have loyal to you. Find things to cut within your budget, not people. Do evaluate work performance of your staff and relieve those who perform less. It will save you money in more ways than one. Consider going to four-day work weeks and relieving part-time staff. If you save the jobs of the most competent people, they won't mind pitching in to help cover all the bases until times get better for all of you. If it's more responsibility or losing their jobs, believe me, they will take the added responsibility.
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Step 3
Consider where every penny of your money is going and cut back. Little things add up: coffee, sodas and bottled water, newspaper and magazine services, housekeeping services, trash service, shredding contracts, extra computers, extra company cars, horticulturists, retreats, etc.
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Step 4
Cut funds to save funds. It is not the money that comes in that counts as much as the money that goes out that can hurt your business the most.
