- February 19, 2018 -
For years I worked with a journalist documenting all the facts for a tell-all book about what I witnessed during my stockbroker days in the 80's.
But while covering a story out of the country, she was tragically killed.
I followed up with her family to try to recover all the notes we had compiled...but no luck.
So I let it all go, moved on.
Besides Wall Street had already been produced.
You remember Bud Fox, the young broker who's desperate to get to the top...and obsessed with having ruthless corporate raider Gordan Gekko mentor him.
That was my world.
The stories have pretty much all been told. The Wolf of Wall Street and Boiler Room have been made.
So while I don't think a book will come out of this, I think it's time for me to go back there and tell a few stories.
Not sure where this is going to head, folks...but the lessons are worth passing on.
During the years I worked at the securities firm, I was making too much money too fast for a young sh*t in his twenties.
And found out that life is the great equalizer...it can all disappear just as fast.
Today's generation of young entrepreneurs just hasn't really been taught (for the most part) how to save money...how to prepare for slow times...how to prepare at all.
Our grandparents knew.
But these days we think we can just apply for credit, or get a loan — we've become spoiled by the success and economic stability.
+ We spend more than we have.
+ For stuff that we don't need.
+ To appear bigger and wealthier than we are.
Maybe I'm just an old fart...
But when I hear young entrepreneurs saying that they've just maxed out their credit cards to the tune of six figures to take their business to the next level...
And that they're betting the entire farm on their next venture...
And that if it doesn't pan out, they could be ruined...
Seriously?
People, I'm not trying to be a Debbie Downer - but I am a contrarian and am committed to...
+ Living within our means.
+ Taking a percentage off of every month's income for both tithing and safe investments.
+ Staying debt-free.
+ Making sure our staff is taken care of.
Creating a thriving business takes discipline and sacrifice.
You might not be able to take vacations every year. New cars might need to wait. Doesn't sound so sexy, does it?
Here's to being smart entrepreneurs with sustainable businesses!
If you haven't requested your copy of our new 2018 Barron Marketing Planner yet, you can do that right here:
[leadpages_leadbox leadbox_id=1421f2146639c5] [/leadpages_leadbox]
This week is going to be fun!
Talk tomorrow,
