Why Some Businesses Make an Easy Profit
Every project manager is familiar with the "Fast, good, cheap. Pick two." conundrum. This question is not only ever present in projects, but in business, too. Why does it appear that some businesses cash flow like crazy, while others struggle to stay afloat, let alone grow? It’s easy to discount entire industries ("Running a restaurant is a terrible business!"), but that’s an easy fallacy to fall into. Some types of business have a more difficult path to sustained profitability, but it’s often the operator themselves who makes running the business unnecessarily hard. So what is going on?
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