Investing Wisely
Do you know the lifespan of your business?
In investing wisely, we believe it is time we tackled the important subject of the expiry date for your business. Everything has an
expiry date, even your business. You may argue that some businesses are hitting a record of 100 years. I agree, but if you look at the
history of such firms and companies, the leadership always invented ways of making sure that they renew their lifespan.
W
hat’s your curve?
Change
Consider this, you have started your own hotel business
from scratch (point (a) in the graph below). Progressively, you grow
with your customers being happy and satisfied with your service
and at some point you are the fame of the town. Everyone wants to
eat at your restaurant.
Then one day as you bask on top of the world (point b), someone
who has been watching you, comes into the picture! Competition! A
good thing because it can make you give your customers something
different thus retaining them and even growing to develop another
outlet.
A bad thing because, you believe they will