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What To Do When Your Clients Are Navigating Rough Waters

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
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  Article Summary  
While recent data indicates that the economy is growing, albeit very slowly, many Los Angeles and Southern California businesses are still navigating rough waters. This is especially true for businesses that suffered disproportionately to other businesses during the downturn, or those whose product lines are in an industry niche that has yet to recover from the downturn.

Business owners and executives of firms facing this dilemma are often faced with difficult choices. Should they cut expenses in an effort to boost cash flow and restore profitability? If so, which costs should they cut? Cost-cutting moves must be made very carefully and judiciously.

This article looks at strategic cost cutting with an eye to causing less long-term damage on the road back to profitability. Discussed are considerations and recommendations in areas such as operational efficiency, overhead, supplier relationships, and marketing.

One of the best cost-cutting moves available is to bring in an outside expert to help prioritize where - and where not - to make cuts. Outsourced CFO services firms have helped many other companies cut costs strategically and can bring this real-world knowledge and expertise to bear in an efficient and cost-effective manner.

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