year-to-year, and i think that you that s the best way to approach your business. you don t want to get into an overproduction situation. you really want to manage your inventory. now obviously you want to make your decisions based on the long-term ramifications. but stuff like keeping your product fresh, not overproducing, keep it scarce in the market. things like that, are short-term decisions that have long-term ramifications. and that s kind of how i operate. but i m not a big one at looking at three-year, five-year financial plans. they never seem to work out. but i think you want to be very focused on the present to succeed in business. it s time now to answer some of your business questions. alfred edmond, senior vice president and chief content officer at black enterprise magazine and jen groover is a serial entrepreneur best known for creating butler bag as well as her lifestyle brand empowered by jen groover. good to see both of you guys. that is one of your new bow ties.
you that s the best way to approach your business. you don t want to get into an overproduction situation. you really want to manage your inventory. now obviously you want to make your decisions based on the long-term ramifications. but stuff like keeping your product fresh, not overproducing, keep it scarce in the market. things like that, are short-term decisions that have long-term ramifications. and that s kind of how i operate. but i m not a big one at looking at three-year, five-year financial plans. they never seem to work out. they seem to get rewritten. but i think we want to be very focused on the present to succeed in business. it s time now to answer some of your business questions. alfred edmond, senior vice president and chief content officer at black enterprise magazine and jen groover is a serial entrepreneur best known for creating butler bag as well as her lifestyle brand empowered by jen groover. good to see both of you guys. that is one of your new bow ties. eve
development. but these entrepreneurs say they believed in their partners and the products right from the start. you have to be able to say, you know, even if we weren t working together, i would go and buy this product. the benefits and the pitfalls of co-branding are unique to each arrangement. but these entrepreneurs say co-branding is a risk worth taking. if co-branding doesn t work, if something continues to hurt, stop doing it. if it feels good, do it more. the co-branding absolutely can work for a lot of companies. and if you haven t tried it, give it a try. everybody s doing it. partnering with another small business to co-brand is a great marketing tool and it can work for all kinds of companies. let s turn to this week s board of directors. jen is a serial entrepreneur best known for starting her lifestyle brand empowered. and the founding partner of the ad agency with deep social media roots and you are both regulars on the show.
the products right from the start. you have to be able to say, you know, even if we weren t working together, i would go and buy this product. the benefits and the pitfalls of co-branding are unique to each arrangement. but these entrepreneurs say co-branding is a risk worth taking. if co-branding doesn t work, if something continues to hurt, stop doing it. if it feels good, do it more. the co-branding absolutely can work for a lot of companies. and if you haven t tried it, give it a try. everybody s doing it. partnering with another small business to co-brand is a great marketing tool and it can work for all kinds of companies. let s turn to this week s board of directors. jen is a serial entrepreneur best known for starting her lifestyle brand empowered. and the founding partner of the ad agency with deep social media roots and you are both regulars on the show.