Friedman, Kannenberg & Company, P.C. Tough Times Require Course Title Tough Decisions! presented by Daniel Jobe Alan Friedman, CPA Friedman, Kannenberg & Company, P.C. 1 1

Talk about the expense cuts we’re NOT going to talk about Today’s Discussion: Talk about the expense cuts we’re NOT going to talk about Talk about the tougher, more personal expense cuts that nobody wants to talk about

1. Cut Expenses 3. Invest money 4. Borrow money Only 4 Things you can do… 1. Cut Expenses 3. Invest money 4. Borrow money 2. Increase revenues

The Common Cuts… Staff salaries Rent Advertising Supplies Travel

Don’t forget Inventory… Reduction? Management (GMROI)

…you don’t cut into the muscle of your organization!! Just make sure… …you don’t cut into the muscle of your organization!!

So…Where do I start?

Meals, travel and entertainment Personal auto Business Perks The 5 untouchables… Meals, travel and entertainment Personal auto Business Perks Outside investments The Stuff at Home

Travel, Meals & Entertainment 1. Travel, Meals & Entertainment

Skimp Pimp Your Ride 2.

Company Perks 3.

Outside Investments 4.

Personal Finances 5. Your Lifestyle Your Income

Just turn it OFF…

…and keep this in mind When the media keeps pumping out the bad news, your competition is probably going to follow the laws of human nature by hunkering down with the same old business model and wait for the good times to return.

Create Opportunities Given that short- sighted, fear-driven behavior, now is a perfect time for you to make gains on them by trimming the fat and creating opportunities.

Top Three Takeaways Here are three takeaways from “Tough Times Require Tough Decisions” presented by Alan Friedman and Daniel Jobe. Bring these ideas to back to your business and see what results you generate! Takeaway 1: Make the obvious business cuts to save money and increase cash flow Takeaway 2: Make the tougher, more personal cuts to save your business and make it healthy again Takeaway 3: Seize this opportunities to plan for the future success of your business 17 17

Any Questions?

“Free” Consulting Meetings Contact Jen outside the Idea Center entrance after this session to set up a meeting time

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