In the job of running a business, one of the most important things you can do is avoid waste. When you’re small and just starting out, every penny is a precious resource and spending unwisely can mean you run your business into the ground before you really get going. All your resources need to go on finding an audience, ensuring you have the right product for them, and getting the two together. Unfortunately, this sensible push for efficiency can leave you vulnerable to another common fallacy in business planning: the false economy. Saving money is good, but not if it’s…
Identifying False Economies
