Silver Lining

3

Refeature to Cut Costs

In the late 1890s, soup consumption was close to nonexistent because shipping was too expensive. Campbell’s condensed soup sacrificed quality but lowered prices by 70 percent. You can, in fact, do more with less if you approach cost cutting in the right way.

The previous chapter described things a company should stop doing. This chapter and the three that follow discuss what companies need to do differently in a tough economic climate.

In tough times, it’s common for leaders to implore their companies to figure out how to do “more with less.” It’s a nice thing to say, but how exactly can a company do more with less? This chapter describes how to intelligently refeature existing products and services to cut costs. ...