FORUM WORKSHOP
Forum Workshop
The Jensens lived modestly and put most of
7
7 their profit back into the business. Jay began to
sell his product at state and county fairs, shop•
ping mall shows, and home and garden shows
S in 1985. That first year, working full time, he
E earned $20,000, more than he had ever earned
P
T as an employee. The Jensens now pay themE selves $125,000 and still reinvest most of their
M income into the business.
B
E
R Jensen ThermoShield was five years old when
the Jensens took out their first loan. They did
2
0 so to buy a quilting machine and build a
1 garage-factory on their lot in Riverton, Utah, ex4 plains Jay, because the mattress factory they
subcontracted to could not keep up with demand. Furthermore, the monthly payments on
the loan were the same amounts as they had
paid the subcontractor.
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While I doubt many
businesses operate
this way, they should.
The ones that do, like
the Hales and the
Jensens, are the first
to expand in response
to market demand. They ar e the ones that survive economic changes – fiscal or political – like
recessions, stock market crashes, fluctuating
interest rates, perhaps even urban (or mall) renewal projects. They have the money to move,
to buy new inventory, to upgrade their equipment, to train their staff. It is all right to compete
with yourself if doing so will increase your overall profitability. But if adding a new store across
the street means people will no longer shop at
your first location (or buy ads in your monthly
magazine), itʼs not a good idea.
continued..
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