Margin of Safety: The Key to Surviving and Thriving

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Manage episode 305790433 series 2936748
By YouNeedABudget.com and Jesse Mecham. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Mark and Jesse discuss the concept of "margin of safety" in a business, that is, building in cash reserves to your operating plan for when things inevitably don't work out like you forecasted. Whether your business has to absorb unexpected costs, or revenue is down for a period, or some other "unknown unknown," having a margin of safety in your business ensures that you have the resources to survive the business cycles and thrive over the long term.

52 episodes