Retailers Forum Magazine Nov. 2020 EMAG

forumworkshop
FORUM WORKSHOP
Your best employee may demand (and deserve)
a raise; or he or she might quit and youʼll
need to train a replacement. Count on change
and try to plan for it by having cash in the bank
that is not the money you started with, but
money the business has earned. Change usually
costs money. Some change happens gradually,
and the astute business person will keep
on top of trends and tastes. But when IBMʼs engineers
ann
o u n c e
they have
developed
the computer
that
has made
yours (and
everyone
elseʼs) totally
obsolete, and that will do more, faster and
more cost effectively than anything else that
ever existed, someone is going to buy it first
and put it to work and start to earn a profit. That
someone might as well be you.
Your ability to keep up with (afford to buy and
generate profits from) technology and trends is
another measure of success. Donʼt change for
changeʼs sake, or only to be first. Make
changes if they will make you money or to avoid
losing money. My typesetting business depended
on an obsolete IBM Composer. It was
an odd machine when I started; my competitors
had “phototypesetting” equipment. My entire
business cost me half the price of a used phototypesetting
system. And with my limited technology,
I found a market niche.
continued..
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Page 62 NOVEMBER 2020 | RETAILERS FORUM MAGAZINE