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Managing Your Business in the New Normal

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
Since emerging from the recession over three years ago, the U.S. economy has struggled to maintain momentum and limped along at a below-average growth rate. Unemployment has also remained stubbornly high, hovering around 8% nationally and remaining above 10% in California since early 2009.

All of this has led some pundits to declare that the U.S. economy has entered what they are calling a new normal when it comes to growth and unemployment. Whether this is truly the case or not, only time will tell. But in the meantime, many Southern California CEOs and CFOs are managing their businesses as if it were true.

This article looks at strategies for addressing a new normal of slower economic growth, approaches that generally focus on improving the bottom line and top line of your business. Included are three guidelines for cutting expenses and four for growing revenue.

Whether we are in an economic new normal or not, taking steps like these is always a good way for Southern California CEOs and CFOs to boost efficiency, reduce waste and increase sales and profits. An outsourced CFO services firm can help by providing chief financial officer expertise gained in each of these areas -- and many more.

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