Tradeshow Budgets 

Don't Cut Now

By: Susan A. Freedman

    Whenever a recession threatens the economy, companies immediately look at where they can cut budgets. Without much thought, the first to hit the block is inevitably training, followed closely by marketing. Why? Both are viewed on the balance sheet as expenditures rather than income generators, so obviously they’re hot contenders for elimination.

  This is myopic thinking, especially for companies that want to remain globally competitive. At times like these, when resources are under severe scrutiny, look at this as a golden opportunity to analyze strategy. Put your activities under a microscope and examine what you’re doing and why you’re doing it. Often during times of plenty, the finance reins loosen and creative juggling takes place when budgets exceed estimates. Obviously, we enjoy the abundant mentality and wish that it could last forever. But just as with all things in the universe, there has to be a balance, and shortages add stability to plenty. Whenever highs exist, lows are inevitable.

  So, instead of reacting to the highs and lows of the marketplace, what can you do to maintain a steady balance? Marketing and training are definitely keys to your success, so let’s...

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