The Perils of Ignoring The Income Trap
In Do You Know What the Income Trap Is? Joe Connors introduced us to a malady inflicting many business leaders, The Income Trap.
It’s a trap that occurs when a business spends too much time on the income statement at the expense of prudently managing the company’s financial reserves on the balance sheet. By comparing examples of companies like Enron and Amazon, and personal anecdotes, Joe illustrates how focusing solely on income can lead to financial instability.