Cash Cow
Someone or something that brings in a lot of money. https://getsling.com/blog/business-terms/
Cash cow is a business term used to describe a product, service, or business unit that generates significant cash flow and profits for a company. These products or services typically have a large market share and a well-established customer base, with relatively low costs of production and marketing. As a result, they require minimal investment and generate substantial revenue, allowing the company to fund growth and investment in other areas of the business. However, over time, cash cows may become less profitable as competition increases or market conditions change, requiring companies to adjust their strategies accordingly.
An example of cash cow related to business coaching might involve a business owner seeking to maximize profits from an existing product line. A business coach could help the owner identify which products or services are generating the most revenue and profits, and develop strategies to improve their performance further. This could include tactics such as reducing costs, increasing prices, or expanding into new markets to maintain the cash cow status and fund growth in other areas of the business.
Cash Cow DEFINITION:
Cash Cow QUOTE:
1."Cash cows: the lazy employees you never have to fire, but always secretly envy for their consistent performance." 2."Got milk? More like got a cash cow - the golden goose of business profitability."