Higher energy prices drive the US economy toward a slowdown. What are businesses doing in response?
In casual conversations over the past week, here is what I've heard:
Cut travel costs first, it is the easiest and most logical place to start
Cut operating costs, outside of personnel; use layoffs as last resort
Work to retain clients: avoid losing customers as a first defense
Retrench: bolster your market position by reinforcing your strengths
Innovate: develop new products and launch them now to offset sluggish sales
"Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Thomas Alva Edison
What is your experience, your plan, your method to turn this opportunity into profit? Share your comments...
This may seem like a crazy time to start a business, but that's what I'm doing! Businesses need help in this economy... to generate profit from process improvement, to cut costs using virtual meetings, to harvest ideas from teams and employees, or to gain alignment with key constituents. To that end, my business offers solutions to today's toughest business challenges. My website will be up and running soon!
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