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HERE’S WHAT MAKES A BUSINESS RESILIENT: Low (preferably zero) outstanding debt Low overhead, fixed costs, and operating expenses Substantial cash res… - Josh Kaufman
" "HERE’S WHAT MAKES A BUSINESS RESILIENT: Low (preferably zero) outstanding debt Low overhead, fixed costs, and operating expenses Substantial cash reserves for unexpected contingencies Multiple independent products/industries/lines of business Flexible workers/employees who can handle many responsibilities well No single points of failure Fail-safes/backup systems for all core processes
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Making mistakes is inevitable: no one is perfect. You will make a few decisions that, in retrospect, you’ll wish you hadn’t — count on it. If you could turn back time, you’d try a different approach, but you can’t. There will always be other projects, provided you don’t double down on a risky project to recover your losses. Throwing good money after bad is not a winning strategy.
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