Here’s the scenario: Your company fell short on sales goals and top-line revenue is way down. Your expenses are greater than your earnings. It’s time for some tough financial decisions, and the most obvious choice is to cut expenses. But is it the right choice? From a financial perspective, making cuts can be a good thing if they part of a long-term growth strategy, but making cuts to achieve short-term profitability is a huge mistake! Here’s why: Random cuts can hamper long-term [...]

Focus on the short-term can kill long-term growth Sometimes you must be the bearer of bad news. We are often asked, “what can we do now that will increase our sales this quarter?” Unfortunately, for most businesses, the answer is, “Not much.” Sales cycles are long and getting longer. Successes today are often the result of actions taken 3-9 months ago. And, while short-term solutions sometimes yield results, the success of a short-term push is usually insignificant when compared to the long-term opportunity. [...]