It's recession. What investment do you stop first in your business, and how will it affect you?

Question

Can be your real-life business or an imagined scenario where you would give your professional opinion.

I want to explore how and for how long cancelled investments may affect us.

Melanie Marten · Accepted Answer

@trevor_lee I fully endorse this! Taking the time to identify dead weight like unused software plans will help you streamline your processes and will be beneficial way beyond the recession.

Trevor Lee · Answer

Like everything - It depends!

Often times companies can start by doing an audit of all software and vendors they get charged by. This will be the first way to cut spend on things you might not even need or be using.

Tatiana Vdovychenko · Answer

At JetSoftPro, a software development service, we advise adopting a strategic approach by first evaluating non-essential expenditures, such as discretionary marketing campaigns or expansion projects. By temporarily halting these investments, you can mitigate financial strain and redirect resources towards core operations and initiatives with immediate ROI potential. 
While pausing certain investments may lead to short-term adjustments, it ultimately fosters resilience and allows us to weather economic downturns more effectively.

It's recession. What investment do you stop first in your business, and how will it affect you?

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