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Friend-of-the-list, daily emailer and your friendly-CFO (think of it as your friendly Financial Spiderwoman), Lauren Pearl, wrote about how profit-first could be a poison pill for businesses (bolding mine).
“The industry is riddled with quick answers from experts on what works for every business.
And while many of those insights are revolutionary for some teams. The same can be poison pills for others.” And she’s right. There’s no one-fits-all solution. When profit (or for that matter, profit-first) is not quite understood, it makes owners believe that just because they have a profit added up to their costs, they’ll succeed —as if their customers owe them for having a product/service in the market. After all, adding profit on top of costs is not rocket science. Yet, many fail to survive. 🙂 |