Well, I can think of a few things, but the first thing I did was:
Examine my overhead expenses with a fine-toothed comb!
When you are working with a relatively new model - like managed services - and pressing for aggressive growth, it can be difficult to watch your overhead very carefully at the same time. I’m not suggesting that we got sloppy - we’ve always been a frugal company - but we did experience some “expense creep.”
By going through our P&L very carefully and asking “Do we really need this?” to every expense, we were able to add several points to our bottom line. That’s the kind of cushion you need during tough times, and it gives us more money to spend on sales and marketing efforts.
I highly recommend that you go through yours and be aggressive about making cuts where you can - it can make the difference between a healthy company and one heading for trouble.
MRC
