1. Urgency drives quick cost-cutting measures 2. Eliminate costs, don’t just freeze them 3. Target immediate cash impact 4. Plan carefully and do it once 5. Take a holistic view of the cost base 6. Cut unspent and uncommitted expenses 7. Include capital, not just operational costs 8. Stop dwelling on sunk costs 9. Address both discretionary and non-discretionary spends 10. Tackle variable and fixed costs.