Most business executives emphasise growth, acceleration, and expansion during the good economic times. But not the billionaire Carlos Slim. On many occasions, the Mexican businessman has underscored the need for restraint when business is booming in order to cope with challenging times ahead.
Slim's principle says that the austerity of the good times makes the company stronger. It further enriches and accelerates the development of the company, helping it to avoid harsh adjustments in periods of crisis. It is among the best descriptions of the businessman's business philosophy. Though conservative-sounding, the principle is considered a very realistic approach to understanding the business cycle by most experts.
