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Innovative strategies to weather the current financial storms

I am attempting to complie a listing of the most efficient strategies to cost-cut and increase efficiency in this current economic climate. Please let us know some strategies yu have employed that have greatly assisted you receintly. Thanks

Reference URL: http://www.ubcnc.com

Answers

Topic Expert
Jim Quinlan
Title: CFO, Managing Director
Company: Trinity Group, BlueGold, Genergy, Wellco..
LinkedIn Profile
(CFO, Managing Director, Trinity Group, BlueGold, Genergy, Wellcount) |

We are using JVs more and negotiating capital contributions from service providers and suppliers of significant volumes of products.

In this way, we get commitment, dedication, and attention from those that make our projects work.

Also, we avoid maintaining the business infrastructure for those functions that can be JV'ed.

(PS I liked your website (ubcnc) and your marketing ideas - the free evaluation and delayed payment. Best wishes to you.)

DeWayne Johnson
Title: CEO
Company:
(CEO, ) |

Thanks, excellent insight, much appreciated...

Topic Expert
John Kogan
Title: CEO/CFO
Company: Proformative, Inc.
(CEO/CFO, Proformative, Inc.) |

It's amazing how many people will tell you that if their project goes unfunded the company will die. Well, it's usually not the case. CFOs traditionally play bad cop when it comes to money, but now more than ever you have to force people to make their case. If it's all hand-waving and soft stuff, I'm sorry, they had better get the CEO on board first and the CEO had better make a more convincing case than they did. If it's well quantified and truly a must-have, then they still need the CEO, but at least that can get to "yes". It's about raising the bar very, very high because companies are dying left and right and you don't want to be CFO of one of them. Noone like to be the bad cop, but it's amazing how little you can get by with if you focus on your best people and best projects.

DeWayne Johnson
Title: CEO
Company:
(CEO, ) |

I certainly concur, well put and definitely right on taget. Great info.

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