Cutting back In the short term, companies can save time and precious resources by cutting back the amount of hype they generate around e-biz initiatives. The mandate to issue copious press releases and to speak about e-business initiatives at industry conferences is no longer a priority. These efforts were much more worthwhile when businesses where trying to impress venture capitalists, build brand awareness, and turn the heads of passive job-seekers. Now generating hype is largely a distraction for your staff, whose time is better spent doing the work around e-business. Also consider the overall e-business project portfolio and do some serious triage.
Some companies have hundreds of e-business projects.
Immediately stop all the could-do projects. Hire professional project managers and get very good at project management. A lot of e-business costs come in the form of late, scrapped, or overly costly projects. Improving your project management processes and bringing in some professional-caliber expertise could reduce cost overruns by 20 percent. The following are other cost-cutting tips to consider.