We’ve spent a good time with clients over the last few weeks hearing they are STILL cutting costs, laying off people, restructuring, recalibrating, re-organising and in some cases probably re-spelling their business.
One way of remaining profitable or paying what staff you have left is to cut cost. I understand that, really I do. After a while though there is nothing else you can cut. You’re essentially turning off the gas that powers your machine.
Who in the business is taking risk, saying ‘yes’, spending money, trying things out, experimenting, investing effort and energy? It’s here the ‘new’ will be found and get you out of the mess you’re in. It’s easy to sit here and type that sentence but there is truth in the adage of ‘what got you here won’t get you there’; Many a grandmother has made omelettes by breaking some eggs.
All this cost cutting is easy for salaried people to commit to. On a good day it looks desultory and on a bad day, just pathetic.
Cut away. Save what you want.
And remain a big business with the same problems you had before – only this time you’ll have no-one left to fix them and a culture who’ve learnt how to say ‘no’.