Confusing expenses and investments. The path to success in this economy is not paved with savings. Yet, companies are freezing budgets unilaterally, not making the necessary distinction between consumable expenditures, which deliver short-term benefits, and investments with the long-term power to create future business. Businesses that come out intact on the other side of this recession will have figured out how to adapt and build for their future.
Solution: Evaluate expenditures based on potential ROI, rather than on cost alone. Seek out products and services, which will increase the value the organization provides, as well as its visibility.