Blood From a Turnip

During difficult economic times, it is important to drive down costs. Although there are many ways to accomplish this, some cost cutting can cause permanent damage to your business. My approach to cost cutting is to turn it into a contest, which I have named "Blood From a Turnip". Here is an overview.

Objective
Find creative ways ways to lower our costs without cutting staff. Our strengths as a company are our people, capital, processes, and reputation. With that in mind, come up with ways of improving each.

Rewards

There will be rewards given to everyone that comes up with improvements that are implemented. Value of reward will depend on the impact the initiative has on the company. The grand prize is a trip to Hawaii.

Requirements

The entry must have a name that summarizes the initiative. Give a clear description of how you would like to go about gathering date to analyze and project impact. Send an email to me to review. I also instituted a deadline.

Summary
These economic times are tough. We need to utilize this pressure as a catalyst for creative ways of managing costs and creating new revenue. We need to look at other opportunities to cut costs, not people. Remember our strengths.

We found over 30 items to improve within resicom that translated into tens of thousands of dollars in annual savings.