"Cut spending, recession is here...Its gonna be a rough ride"
Here is my summary for businesses...
- Secure current business - keep current customers happy and don't loose them
- Cut expenses - all those expensive fu fu events? Can 'em
- Manage Cash flow - Credit market has evaporated and you'll need cash in bank to make next payroll!
Three key takeaways for personal life...
- Hang on to your job - job cuts will be plenty and new jobs will be few
- Cut back expenditure - save that cash! You may need it for survival
- Reduce personal debt burden - that big SUV? Get rid of it and reduce your lease burden
Good advice in best of times, outstanding advice in today's environment. If what Sequoia says in this presentation is true, we will be suffering through this recession for a while.
Presentation Courtsey Venture Beat