A person's net worth are simply assets vs liabilities. My thought is, and I've seen it happen, a business expands going into debt with the hope of future earnings. Lots of famous people, actors for example, because of who they are extended credit.
I once read the percentage of new businesses that fail within a given time and was shocked at how high the percentage was. It's not easy running a small business.
Yes, I connected and used my EA back blade yesterday. It's very well made.
You are so right. My dear wife talked me into opening a business in the 70s. She packed lunch and we waited two weeks for the first customer...and that check bounced!!! I kept it...everything on check was fake. I opening June 1 and that first 1/2 year business gross was $2500!
Sure enough, my first 3 years drained all of my reserves and we were trying to sell out. Somehow we survived past 2010 and will now tick off a lot of regulars by closing shop the end of August. Time to retire and not deal with people unless I feel like it....You are so right. My dear wife talked me into opening a business in the 70s. She packed lunch and we waited two weeks for the first customer...and that check bounced!!! I kept it...everything on check was fake. I opening June 1 and that first 1/2 year business gross was $2500!
Most businesses fail within first 3 years. Those who make it know how to handle money.
Think how hard it has been for the companies that have survived 150 or 200 years.You are so right. My dear wife talked me into opening a business in the 70s. She packed lunch and we waited two weeks for the first customer...and that check bounced!!! I kept it...everything on check was fake. I opening June 1 and that first 1/2 year business gross was $2500!
Most businesses fail within first 3 years. Those who make it know how to handle money.
Well that would certainly take the fun out of it ....
I can't argue with that......Well that would certainly take the fun out of it ....
Every time I hear a politician criticizing "greedy business owners" I remember that 90% of those who try fail within the first year. Often wiping out their life savings.
