Pondering the New Zealand fishing industry, I had an insight today. Forgive me if it’s old news to you.
You have three options to make more money:
- Lower costs.
- Sell more of the same stuff.
- Make new types of stuff to sell.
In quota-limited systems such as fishing, you can’t catch more fish because you don’t have the quota to do so. So option 2 is out. All you can do to make more money is lower costs or find something new to sell.