When you own a business, you typically have three good options for what to do with the profits: Invest for growth. Invest for margins. Build up your cash reserves.
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Watch out for laying too many people off and losing critical organisational knowledge and/or growth potential. Also be wary of getting too sentimental and pursuing growth opportunities with poor marginal profit as an alternative to laying people off.
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Building up your cash reserves is really unsexy these days because saving is practically a swear word these days. Truth is, few businesses are consistently profitable and being able to avoid the shitty interest rates on short term business loans is great.
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Watch out for getting complacent and being stuck in a (temporarily) profitable holding pattern without proactive plans for how to invest for future. If you're building up cash because you can't think of anything better, you might want to hire a consultant.
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