Developing a Turnaround Plan
Avoiding Financial Pitfalls
In addition to the above list of tips to effectively manage a turnaround plan, there is one important thing not to do. Do not reduce page count as a way to save money.
If you do, you will only begin an irreversible downward spiral for your business. Since you have already reduced circulation, you will need all the sales and cash flow you can generate. Maintaining, or increasing, page count can increase response and help create more revenue. You will generally lose more in cash flow than you will gain by eliminating pages.
- Companies:
- Lett Direct Inc.
Steve Lett graduated from Indiana University in 1970 and immediately began his 50-year career in Direct Marketing; mainly catalogs.
Steve spent the first 25 years of his career in executive level positions at both consumer and business-to-business companies. The next 25 years have been with Lett Direct, Inc., the company Steve founded in early 1995. Lett Direct, Inc., is a catalog and internet consulting firm specializing in circulation planning, plan execution, analysis and digital marketing (Google Premier Partner).
Steve has served on the Ethics Committee of the Direct Marketing Association (DMA) and on a number of company boards, both public and private. He served on the Board of the ACMA.  He has been the subject of two Harvard Business School case studies. He is the author of a book, Strategic Catalog Marketing. Steve is a past Chairman of both the Catalog Council and Business Mail Council of the DMA. He spent a few years teaching Direct Marketing at Indiana University in Bloomington, Indiana.
You can contact Steve at stevelett@lettdirect.com.
