The Dos and Don'ts of Recession Cost-CuttingBefore simply taking a hatchet to business expenses in response to a downturn, it's vital to formulate a comprehensive plan. Here's how.

The "will it… won't it?"recessionhas been on just about every business owner's mind for the better part of the past year. And if you've been keeping up with downturn-related news, you've likely seen countless articles on how companies and theiroperations and logisticsprofessionals are preparing. Many of these focus on cutting costs, and perhaps for good reason. During a recession, consumers tend to have less spending money, of course, and when sales decrease, profits do, too. To counter this, the classic move is to scale back expenses, but there are critical factors to consider first.

Don that green visor

Break out that general ledger, drill down into your expenses, and see exactly where the money is going.According to a studyby Motley Fool's The Ascent, if you're like four-fifths of Americans, you waste more money than you should.