Mike Andes (speaker) advises business owners to aim for "higher lows and lower highs" — to avoid extreme highs that prompt overspending/overconfidence and to reduce the depth of lows so they don't quit during hard times. He uses franchisee anecdotes (employee walkouts, difficult customers, payroll stress) to illustrate why steady, 'boring' approaches often produce long-term wealth.
Something we've talked about a lot with our franchisees this past couple years is higher lows and lower highs. Most of us will only lose the game of business because we quit during a low low. And whether it be depression or just a really tough spring rush or a couple employees walking up the job the same day that you get two customers swearing at you in the face the same day that your checks balance on payroll, when that happens, that's a low low. And I think if I was to talk to my younger self I'd say have lower highs and higher lows, which means when it's really, really bad, it as bad as you think. And when you're really, really everything's great and you just sold this $40,000 job and there's a bunch of money in the bank, bring yourself down a bit and just live a little bit more level of a life. And some people will call you boring, but boring business owners and boring entrepreneurs typically make billions of dollars.
