You can get new suspension linkages and you can drop down the forks through the yokes. I know FI international make these linkages but I'm sure you can probably find some cheaper elsewhere.
I wouldn't recommend putting the rear shock on the softest setting as a permanent solution because it drastically changes the handling of the bike.
I know a lot of people have also cut some of the seat padding out but this is a final measure and usually more suitable for something like an sv650 which begins life with more padding.