Archive for May 2017
You can’t save your way into profitability
A few years after I purchased ECI Agency, we began facing significant cashflow challenges.
The economic downturn had just happened, and the bonuses we were used to receiving from the umbrella partnership we were a part of had stopped coming.
Don’t put all your eggs in one basket
Before I became the president of ECI Agency, I had the opportunity to manage stores and regions with C.R. Anthony Company, The Men’s Wearhouse, and Golf USA.
Fortunately, in most of those situations I was able to manage my stores and regions (even the international operations for Golf USA) as if I were running my own business.