Cutting your own Throat by Slashing Budgets
A few years back there was a very successful turnaround CEO that had some awful sounding nickname like the meat cleaver or hatchet man or butcher.
As evidenced by his awful sounding nickname, his MO was to takeover or be installed at the head of a troubled company and to slash payroll and every corporate budget across-the-board in order to restore solvency and make the company a viable platform from which it could grow. When asked directly about his budget slash-and-burn methodology he said that there was one exception to his across-the-board approach. While slashing payroll and every other corporate budget he would also always double the marketing budget.
Ironic isn’t it that many less savvy corporate managers and leaders choose to slash marketing budgets during a slowdown or recession.
Metaphorically, sales are the lifeblood of every business. After a heart attack, keeping the blood flowing is the first and sometimes only goal of the attending EMS worker or clinician. It is an admittedly gruesome analogy, but slashing the marketing budget during a downturn is like fixing a heart attack by slashing the throat.
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