I still remember the exact moment when audio made a difference in my life. I had always loved music, but I had never really taken the time to appreciate it on a nice stereo. After my buddies and I graduated high school and went off to college, my best friend Dan began selling stereos at the local Good Guys to help pay for his education.
My friends and I were recently reminiscing about the days of measuring margins by percentages, not basis points. Were the best times really behind us? Were the glory days of boxing up a television and component home theater system with 50-percent-plus margins really a distant memory? The reality is yes. It’s very hard to make those kinds of margins these days, but that doesn’t mean we all have to go out of business.