Have you ever successfully implemented a cost-cutting strategy?
"Many times! One example is..." Provide examples with specific data points. Detail the steps you took and provide the positive impact it had on the business.
Avoid vague answers. Do not provide examples lacking data and specific numbers. Avoid examples resulting in layoffs or cutbacks that negatively affected others on the team. Avoid using 'we' statements. They are interviewing you, not your team.
We were outsourcing our billing. Our aging accounts were growing. I was spending a lot of payroll hours following up with them on their progress cleaning these up. After a while, I suggested I take over the billing, identify the growth opportunities, and offer training these skills to our admin, who showed an interest in learning. Bringing these operations in-house versus outsourcing them ending up saving us 12,000 in annual revenue.
