Frugality
Reflecting over the last few months, I think we’ve had the “frugality” dial set too high.
It might be time to loosen the purse strings.
Tom and I both have a natural bias toward saving money. Tom’s the kind of founder that not only can, but wants to be able to do every role in the business. I’ve bootstrapped my previous businesses and I probably irrationally put profitable growth on a pedestal.
An easy (but boring) way to be “profitable” is to spend less money. But in pursuit of spending less, have we been starving our business of much needed fuel to grow?
I’m not sure what the right level of spendiness is, but I want to experiment with being a little looser with money.
Frugality can save a business, but it can kill one too.