When it comes to making money in a down economy, everyone's an expert. (But is anyone making money?)
Published in MR
"We've heard it all before: lower sales need not preclude higher profits if we simply cut expenses and better manage our businesses. Cut to the bone, the experts tell us. Don't carry excess inventory, negotiate everything, work with fewer vendor partners who give better terms, cut back on advertising, T&E, payroll, turn off the AC… Obviously, this is making most of us crazy, especially with too few customers walking through the door to cheer us up. Here, some good advice from several experts to help get us through the next season or two. (And while we're waiting for a turnaround that might or might not happen, why not start working on a drastically new business model for the years ahead?)"