"Poverty cycle" for businesses
I got got in this cycle...
Profits on apples were declining so I over expanded. We were beating
ourselves to death running all over and needed too much help to get it
all done. One year, we had a near crop failure, so we cut all expenses
to the bone. Didn't have to work near as hard. The surprise: net
profit was higher.
We now produce 20% of the volume but higher price, and less delivery.
AND there's time to go fishing.
Karl
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