#143: Going for broke
How does one go broke? The only accurate answer I have ever heard was given by a character in Ernest Hemingway’s “The Sun Also Rises”. He said “gradually, and then suddenly.”
Exactly! That’s how it happens: gradually and then suddenly.
A better question would be to ask “why did you go broke?”. Again, there is only one accurate answer: I kept on spending more than I earned.
There is no magic to it what so ever. Whether a company or an individual, if you spend more than you make, you go broke.
But how does it happen suddenly? This happens when you keep feeding an inefficient system. By its very nature, an inefficient system is already losing money. If you feed more money into it, you will end up losing more money, faster. This is a mistake that both companies and individuals make.
So, if you want to regenerate your own system, then first make it efficient.
I’m james@nonsenseatwork.com
Copyright: 2007 James Henry McIntosh
James can be heard on Public Radio, 88.9 FM WCVE, Richmond VA.
Monday - 7:19am and Saturday - 8:19am
Exactly! That’s how it happens: gradually and then suddenly.
A better question would be to ask “why did you go broke?”. Again, there is only one accurate answer: I kept on spending more than I earned.
There is no magic to it what so ever. Whether a company or an individual, if you spend more than you make, you go broke.
But how does it happen suddenly? This happens when you keep feeding an inefficient system. By its very nature, an inefficient system is already losing money. If you feed more money into it, you will end up losing more money, faster. This is a mistake that both companies and individuals make.
So, if you want to regenerate your own system, then first make it efficient.
I’m james@nonsenseatwork.com
Copyright: 2007 James Henry McIntosh
James can be heard on Public Radio, 88.9 FM WCVE, Richmond VA.
Monday - 7:19am and Saturday - 8:19am
posted by James Henry McIntosh at
7:20 AM
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