Can we save our way to success? ( Choices: Cut costs now — Maintain— Keep planning)
Although the company had done a good pivoting their sales channel, manufacturing, and fulfilling orders, the entrepreneur said that he only wanted to spend so much money on the venture.
Jim, Adam, and Sharon talked via video chat about how to lower or reverse the cash burn rate. Sharon offered creative ideas on marketing, Adam suggested looking at costs to manufacture and product materials. Jim sighed inside and wondered about another meeting talking and not doing.
Jim asked Adam to investigate warehouse alternatives. He decided Sharon’s ideas were also good and asked her to put together how they would reduce spend.
Meanwhile, sales continued to do well. Sales from a couple new products started up.
Inside, Jim knew this couldn’t go on long, the “number in his head” had begun to worry him each day. Action was needed now, but what?
Jim’s Choice: Keep Planning
Read the next installment of the story Thursday, Jan 14 on my feed, the Ekalore LinkedIn page or on our website – www.ekalore.com/blog-1
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