While consistent growth in your business is good, remember to watch out for “bigness on the brain,” says David Kohl, professor emeritus of agricultural and applied economics at Virginia Tech.
Sometimes, people’s egos get in the way and all they want to do is “expand, expand, expand.” They forget to take a bit of money and stash it away for when prices may not be as rosy. With large swings in the price of milk a reality these days, it is important to remember to build a cushion that allows you to stay afloat during the lean times, too.