Deciding on Cuts
(For anyone just tuning in, this email is the last installment of a multi-day series we're doing on Cost-Cutting. Check out the first post if you want to start from the beginning!)
Today’s the day where you pull it all together.
If you’ve followed along with this email course, you should now have:
A list of Quick Wins Costs to cut immediately
A plan for investing generously in strategic areas
A list of Values that tell you your cut guidelines
The blueprint for the MVP version of your business
Here’s how to transform all this into cost savings for your business:
Start with your MVP blueprint for the business
Add in your generous spending strategic areas
Now, take this and compare it to your value guidelines. Do you need to make any tweaks to align with what you value as a company?
Do it.
What you now have is the Lean Mean version of your company.
Now go back to the Profit & Loss Statement you used to execute your Quick Win Cuts: Your Year-to-Date P&L.
Whatever is on there but not in your Lean Mean version of your business,
Can be cut.
You don't have to cut it all
But if you're looking for cuts to make,
This is your hit list.
Did you try it? Do you have a list of cuts to make? Let me know!
Here’s another likely possibility: Did you try it and get stuck?
If so, know you are not alone.
As mentioned at the beginning, cost-cutting is HARD work. It can be challenging to make these decisions on your own.
Often, founders put it off until it's too late.
And the longer you wait to cut some things,
The likelier it is that you'll have to cut it all.
If cuts need to happen for your business,
But you need some help,
I’m here.
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