In 1980, I was the head of a successful family business—Johnsonvill Sausage—that was in great shape and required radical change.
Our profits were above the average for our industry, and our financial statements showed every sign of health. We were growing at a rate of about 20% annually, with sales that were strong in our home state of Wisconsin and steadily rising in Minnesota, Michigan, and Indiana. Our quality was high. We were respected in the community. I was making a lot of money.
And I had a knot in my stomach that wouldn’t go away. For one thing, I was worried about competition. We were a small, regional producer with national competitors who could outpromote, outadvertise, and underprice us any time they chose.
In addition to our big ...
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