SENTINEL WATCH June 4, 2007 Issue

A MATTER OF BALANCE

Frederick R. Andresen

IN RECENT WEEKS, gas prices have moved to record highs, as refineries have struggled to meet increased demands. At the same time, the cooling real estate market has resulted in a growing surplus of properties on the market, resulting in slow sales and a nationwide drop in prices. Both stories have been making headlines. Demand and supply. Supply and demand. It hovers over many aspects of our lives. It affects the survival of businesses and the stability of family life; also, people's self-image and peace of mind.

My first encounter with the challenges of demand and supply came when I was young and was starting a new business. Naive at the time, I had no training or experience in preparing and working a business plan, assessing the market, or, most important, having plenty of cash reserves in case profits didn't match dreams.

I'd gone into the mail-order ski wear business simply because I loved skiing and felt I had something helpful to offer. I'd reasoned that if the product met a need at a fair price and I advertised it, the buyers would flock to my door—or, in this case, my post office box. So I bought a large quantity of stock, expecting to sell it at a profit.

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