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Control Expenses in Boom Times to Secure Lasting Gains
Focusing on expense management during prosperous periods is crucial for sustained success. Companies often neglect cost monitoring in boom times, driven by a false sense of security. Historical figures like Andrew Carnegie emphasized the importance of controlling costs, asserting that such savings are permanent and not subject to market fluctuations. Embracing a disciplined approach to expenses can secure long-term benefits even when business conditions are favorable.