Do you often wonder why you are not able to replicate the good year that you had some time ago..... Generally, the causation is not that your marketplace has changed so drastically, but you just "got lucky" in spite of yourself. Our business mental attitude is the variable factor that most times allows us to prosper at different levels. We often forget that when we "get lucky" that it involved increases in expenses for perhaps employees, more inventory and a change of facilities to accomplish this 'luck". No plans were made during this lucky moment in time, to do anything but put out fires and not think of this as being a new adventure for the Company at continued higher levels of activity and profitability.Again I use the old rule, go into the closet, talk to yourself and think about the fact that "good luck" does not have a long life and it is you who must have the reserve capabilities to intellectually adapt your Company to its' new environment, its' activities and the mechanisms that need to be in place to support this happening.During the same time, your thinking process has to well comprehend that extraordinary expenses should only be borne after understanding your place in your marketplace and that you need to be vigilant of present and future cash flows. Care must be utilized that rushing and utilizing extreme expenses most times is a waste of capital with a lesser accomplishment than if thought out over time. Expenditures need to be planned and kept in mind that the goals for the usage of such need to be defined and risk calculated.With the above in mind perhaps you will "get lucky" again with the nuance that it was planned.That's how we do it at Bone Robertson & McBride Inc.With Good Health to You,Don Bone,President (questions 800-510-1095)
