6 Ways to Prepare for the Coming Upswing

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Cut costs strategically

You'll never be able to take advantage of the upswing if you don't survive the downturn. Instead of making across-the-board cuts, analyze costs carefully and reduce spending in ways that are unlikely to impair future growth. Be sure to put controls in place so spending stays in check after the rebound. Identifying excesses now will also help keep costs down as you move forward.