• Steep growth and no profits is a myth, says consultant
• It's not explosive growth that makes a business
Who won that race between the rabbit and the tortoise? Everyone knows the answer, of course, and consultant Manny Skevofilax suggests a business strategy that the tortoise might endorse: Don’t sacrifice profits for growth.
To ensure the health of the business, go for steady growth and steady profits, he says, adding that steep growth and no profits as a long-term strategy is a myth.
After a career as a banker with Comerica Bank, Mr. Skevofilax opened his consultancy back in 2003.
As he notes, it's not explosive growth that makes a business, it's steady growth along with steady profits.
His new book is “Ultimate Profit Management: Maximizing Profitability as You Grow Your Business,”(Productivity Press; June 2024.)
For more information: https://poartalcfo.com