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During the start-up years of LMT, I read several articles about how product life cycles are bell curves;...See more they typically peak and then decline. I also subscribed to the Harvard Business Review (HBR) and it featured a series about why most startups fail within the first five years.
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47% are freezing pay raises
39% are reducing/eliminating overtime
38% are cutting hours
36% are laying off technicians
25% are reducing/eliminating bonuses
16% are reducing/eliminating health insurance benefits
8% are cutting salaries
7% are instituting forces, unpaid vacations
(percentages total more than 100 because respondents could select more than one answer)
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LMT Communications delivers the business strategies, information, dental laboratory news and education that dental laboratory decision-makers need to succeed. Through LMT Magazine and our LAB DAY shows, LMT works to advance excellence in dental technology, enhance the products, services and communication of dental technicians, and give dental laboratory owners and managers the tools they need to flourish. Learn More »