While it's still true that you can't cost-cut your way to success, it's also true that you can't waste money in a business that is under unprecented competitive and economic pressures. So, here are some ideas for saving money. They range from keeping an eye on the thermostats to making sure your credit and sales departments are talking to each other.

Some new research studies highlighted at MFM's recent convention provide broadcasters with optimism about advertising's future on their medium. But to succeed, there has to be a change in tactics to create cross-platform marketing promotions that exploit the strengths of each media platform. In short, they need to move from a "one-to-many" approach to a "one-to-one."

We haven't yet, but speakers and panelists at the MFM's annual conference in Atlanta earlier this month suggested that we will soon, if we all start believing it, seize the opportunities that the new media present and build companies that are designed not to last, but to adapt to the changing media technologies.

The just-completed annual conference of MFM-BCCA highlights the extraordinary amont of change in the industry in the past year and what stations need to do to survive and thrive. More than 50 sessions featuring some 100 experts explored everything from cutting expenses, state-of-the art credit management and dealing with troubled advertisers to new revenue streams, new media opportunities and the latest on legal and accounting issues.

... well, published it really. The fifth edition of MFM Risk and Insurance Guideline is now available and covers everything from disaster recovery planning to business interruption. The MFM will also address risk, liability changes and challenges affecting ad sales, contests and abandoned property at its annual conference in Atlanta, now just two weeks away.

As TV One CEO Johnathan Rogers once said, it's more fun to find ways to grow your business than it is to cut costs. And one good place to conduct the search is at the MFM's annual conference in Atlanta next month. Panels and presentations will address mobile video, targeted advertising and monetizing the Web.

With advertising harder to sell these days, it's more important than ever to make sure you get paid for each and every spot. Here are some tips for making sure that you do, starting with sound credit and collections policies. If you do all you can and still don't get a check, it may be time for collection agencies and lawyers.

History shows that even in the worst of times, innovative businesses can generate new products and revenues. Some of your peers in broadcasting have done it through partnerships, clever sales promotions, new local programming and even old-fashioned cold calling. The one thing you don't want to do is slash ad rates. That hurts short-term and long-term.

Through its annual conference and other educational efforts, the Media Financial Management Association can help make your company develop badly needed new businesses in step with the rapidly changing media marketplace. It can also help you identify those new businesses and cope with the cost of restructuring that is an inevitable symptom of hard times.

Broadcasters and cable programmers need to take a hard look at Anheuser-Busch's new policy of not paying for spots until 120 days after it has received an undisputed invoice. Under the policy, five or more months could elapse between the time a spot runs and when A-B cuts a check. Also today: a bow to the MFM's 2009 award winners.

And where they are going for entertainment in increasing numbers are computers and their own personal, portable devices, according to the latest research. So, broadcasters that expect to be relevant to the Millennial generation had best embrace online and mobile platforms. Today, it pays to be everywhere.

Due to the dire economic conditions, 2009 will be an adventure that will test of the ability of media companies to innovate and listen closely to the needs of consumers. And there may be pleasant surprises. Broadcasters may reap unexpected issue advertising revenue as advocates try to influence events in Washington through grassroot campaigning.

Like most businesses, broadcast and cable companies are creditors, which means that you must comply with new FTC rules designed to protect their customers from identify theft. An upcoming MFM Distant Learning Seminar will help in understanding the rules and avoiding penalties for noncompliance.

One of the ways your company can meet the serious challenges of the new year is to make sure that your employees are communicating effectively with one another. And the first step toward doing that is understanding that any company is composed of a mix of not-always-compatible personalities who must be encouraged to cooperate.

"Intelligent optimism" is what's needed for TV stations and companies to not only survive the current economic mess, but to thrive once it's behind us. Foreward thinkers will be planning not just for the next five or 10 years, but for 20 or 30 years out.

Copyrighted materials can provide sweet sounds to your bottom line if you stay in harmony with the rights that govern their use. Understanding the intricacies of "fair use" is critical to avoiding litigation in both traditional broadcasting and as television stations move to create content for use on new media platforms.

Ventures Denuo, speaking at our recent seminar, believes that TV networks and broadcasters have to start acting as purveyors of video and strive to deliver it to consumers wherever they are — the living room, the airport bar or gas pump. If you find the consumers, he told our members, the advertisers will find you.

Figuring out how to handle different types of unclaimed property is not easy since laws and regulations vary from state to state. But it's something you have to do to avoid penalities for non-compliance. Setting up a unclaimed property program is a good idea and bringing in an expert may be necessary. MFM is here to help with a distance learning seminar next Tuesday.

TV stations can capitalize on current economic challenges to improve their competitive positioning by providing advertisers the combined value of their on-air and online capabilities. The closer local media outlets can align their online ad sales with the advertiser's demand for click-through Web traffic, the more likely they will be able to grow their online revenues.

Lean economic times have many companies cutting back on personnel to save costs, but layoffs could undercut their competitive position when business bounces back. Recognizing the costs of recruitment and training, some far-sighted companies are focusing of retaining key employees.