How To Maximize Your Revenue During Uncertain Market
What are we to make of the current economic crisis? First, it was Bear Stearns. Then it was Fannie and Freddy. Now it is AIG and Lehman Brothers. It seems like timeless American companies are being timed out. Even our esteemed presidential candidates are silent in what it will take to provide stability to the economic market.
Interestingly, into this economic uncertainty come the rapidly falling crude oil prices. Crude oil is now down almost $60 a barrel from just two months ago. This should create an upturn in spending as consumers, whose budgets were pinched tightly two months ago, open up their pocket books and wallets as gas costs have fallen. The economic forecast should be rosy, right? The answer simply is no – the drop in oil price has only lead to a more topsy-turvy economic situation.
Stevenson Jacobs, a writer for the business arm of the Associated Press suggests, “
In the same article, James Cordier, president of Liberty Trading Group of
Both men describe a bleak picture for the future of the American economy. However, this does not mean that companies cannot make substantial gains in their bottom line. So the question becomes, how can businesses maximize their profit during these uncertain economic times? The answer is quite simple: cut down on budget-guzzling expediters while maintaining core business objectives.
However, the tougher question is how this is to be accomplished in the quickest, most cost-effective manner? Thankfully, there is a simple SOLUTION: Video conferencing.
Video conferencing allows you to drastically cut down on business travel which historically comprised a large percentage of operating budgets for businesses. Not only that, video conferencing speeds up business decisions and allows for products and services to go quickly from innovation to implementation. With video conferencing, playing phone or email tag is obsolete as you can speak face-to-face with your team. Businesses all over the world have been experiencing a radical drop in the number of meetings needed to bring a product or service to market.
Trimming budgets while increasing efficiency and productivity seems like a great way to increase the all-important bottom line – profit.
Please contact Face-to-Face Live to find out more ways in which we can make your business profitable even during these tough economic times.
You can view Stevenson Jacobs’ article online: biz.yahoo.com/ap/080916/oil_prices.html
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October 23rd, 2008 at 9:27 am
I couldn’t agree more with the view that more and more companies will turn to video conferencing in order to cut costs. Even the most state-of-the-art video conferencing technology must seem a sound investment compared to the ever-rising airline costs. But while the faltering economy will doubtless help predispose companies to video conferencing, I wonder if there are not some more human reasons why video conferencing may continue to be resisted by some. People like flying, especially managers for big corporations; as they are not directly responsible for the expense of flying, but get all the benefits of business-class treatment and, perhaps most attractive of all, they get to collect frequent-flyer miles which they can use later for their personal holidays. Many who enjoy such benefits will always seek to convince their companies of the necessity of face-to-face meetings. It seems to me that airline companies, who have perhaps more to lose than anybody, now have a golden opportunity to expand their service. Why not install high-tech telepresence systems in airports and charge companies for using them, all the while offering miles to the users. Everybody wins, the company cuts costs, the managers still get their precious miles, and airports get to sell a new product that will give them wonderful PR. Maybe I am overestimating the psycological side of this issue, but if you think that I might be on to something read more at http://www.toolazytodoit.com -Joshua