The Ant and the Bee watched as the Flamingo closed her doors for business. “I thought she was doing so well” uttered the Ant. “So did I” buzzed the Bee. The Flamingo had customer after customer that came to her restaurant. Even as the Flamingo packed up her stuff, customers still came to the door shocked to hear the news.
While every animal looked on the wise Owl understood exactly what happened. “It wasn’t sustainable” the Owl said plainly, “Flamingo spent more than she made and at some point she couldn’t pay her creditors.”
Owl turned to his friends, Ant and Bee and simply said “Know your revenue and your expenses.”
Lesson: While you’re running your business and generating revenue, pay attention to how much you are spending to acquire each customer and your overall expenses.
This post is from the feature What if Aesop Owned A Business providing entrepreneurial lessons and tips to entrepreneurs and business owners as Aesop would.