If you’re employed by a “low-margin” business, do everything you can to get out. Your boss will download their anxiety, lack of health, and mania on to you. They’ll make YOU feel the pressure THEY feel. Things won’t get better. Get out as soon as you can.
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An example from my life: In my early 20s I opened a skateboard/snowboard shop. It was low-margin everything: - low markup on the products we sold - high complexity (ordering, employees, inventory) - high risk - high stress (theft, capital) - long hours, low pay (as an owner!)
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One thing you’ll notice with low-margin businesses: you’re always “adding more” hoping it will increase your margins. At the skateboard shop we added a mini-ramp, did events, published a magazine, ran contests, and started doing bike repairs. “Throwing good effort after bad.”
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Just found this, and it relates so much to this thread: “Adding more and more layers to a system intended to avert disaster often makes catastrophe all the more likely.” https://99percentinvisible.org/episode/cautionary-tales/ …pic.twitter.com/sg4uPFg7MN
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Ten tweet jest niedostępny.
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Low-margins require massive scale. (A scale you might never reach) Also, I’m not just talking about low profit margins... https://twitter.com/patio11/status/1214396027848937472?s=21 …https://twitter.com/patio11/status/1214396027848937472 …
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Great advice, Justin.
Safety margins give us optionality. And the more optionality we have, the less we need to rely on being able to predict the future.Dziękujemy. Twitter skorzysta z tych informacji, aby Twoja oś czasu bardziej Ci odpowiadała. CofnijCofnij
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Saluti, the unroll you asked for: Thread by
@mijustin: Good businesses have margin. Profit margin, yes. But also margin for your time, your emotional and… https://threadreaderapp.com/thread/1214391547925450752.html …. Share this if you think it's interesting.
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True. But also has to do with the stage of the business..early or matured
Dziękujemy. Twitter skorzysta z tych informacji, aby Twoja oś czasu bardziej Ci odpowiadała. CofnijCofnij
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Wydaje się, że ładowanie zajmuje dużo czasu.
Twitter jest przeciążony lub wystąpił chwilowy problem. Spróbuj ponownie lub sprawdź status Twittera, aby uzyskać więcej informacji.
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