When the economy contracts, parts of your business needs to contract too. But which part? A quick daily hit with Carl Gould to achieve a lifetime of results. #70secondCEO your micro-podcast…GO!
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Hi everyone, Carl Gould here with your #70secondCEO. Just a little over one minute investment every day for a lifetime of results.
One of the tenants of our growth methodology, is that as a business owner you need to have two very distinct skills. One is the ability to expand your business to meet the demand but number two-equally as important-you need to contract your business when the economy retracts. The economy is retracting right now and if your not nimble enough to shrink your business then what will happen is all the profits you worked so hard for last year and you worked for in first couple months of the year are going to be eaten up during this time. Your ability to shrink and contract when need be is equally as important as your ability to expand your business to meet the demands. I wanna give you a couple of strategies and tactics around that. So this was a recent Mckenzie article that came out where Mckenzie is now asking it’s clients to look at it’s fixed versus variable costs. What their recommending is that you have as many variable costs in your business and you minimize fixed costs.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.