Financial Fundamentals
Spend more than you earn and you go into debt. This applies to people and to businesses.
Michael Jackson died with $40 million in debt. With his earning power how is that possible?
How many businesses have gone away in the past several months because of their inability or unwillingness to control costs? One of my clients is forecasting a potentially record profit year despite falling revenues. They took aggressive action last year to control costs and they are weathering this storm quite nicely. How about you?
It may not be easy, it may not be fun, but living and operating within your means is one of the surest paths to happiness.
I fully understand the use of debt and am not saying we should not incur debt. We need debt funding to buy our house and to expand our business but when the fundamentals are not sound you need to take a hard look at things and do something about them.
What goes up, must come down…..spend more than you make and bad things happen.
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"At first I was a bit skeptical... but you were able to slowly rule over my skepticism with your candid stories, accurate information on ‘true’ leadership and your closing statement. “Here are the tools; I have not given you application but merely the tools to be great leaders.” Your stories about the next generation and not forcing them to “pay their dues” really struck a chord as well as your analysis of generation Y and their constant need for information…"
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JP Cullen & Sons, Inc.