My son is going to a college that offers a business degree in entrepreneurship.
You may learn success as well as failure methods in running your business by trying one thing, then another until you find something that works.
Or maybe you found a mentor to coach you. You can learn these strategies by example as well.
But what an outrageous, over-the-top example you can observe almost every day. All I have to do is say JOE and many will know exactly what I am referring to.
In short, if you want to fail – copy Joe’s strategies. For example:
Joe spends money he doesn’t have without a plan to repay it. In fact, rather than determining how to pay his debts, he asks the credit card company for a higher credit limit (and gets it). He doesn’t even have to provide a plan on how he plans to repay the company.
In the past 9 months, Joe and his 535 associates have spent $1 trillion more than they have taken in. That’s $1869.158 million per associate spent in nine months. That’s $207.684 million per month. (That’s more than Hunter is spending on his drugs and women per month).
Joe doesn’t have a plan to pay this back. In fact, Joe smiles and says “there’s no additional debt” when pressed about the debt he’s creating.
Rather than allowing the interest rates to increase based on Joe’s spending habits, his associates are demanding worldwide price controls.
Let’s see how this works.
You go to the local hardware store to buy some lumber and nails to do some repairs on your house. The lumber and nails are 25-90% higher in price than they were in 2019 (I know of a homebuilder who waited a year to build his house. Just the trusses for his roof went up in price from $17,000 to $54,000).
Along comes Joe who says, “Sorry, building supply store, but you can’t charge more for the trusses than you did in 2019. Bud, the building supply store tells Joe he can’t purchase materials, let alone pay for his employees, the electric and gas for the store, and all the other expenses connected with running his business. Joe says “too bad – but if you want to stay in business and not have an audit to find these overcharges you’ll do what I demand.”
So Bud either goes bankrupt or closes the doors to his store (which will probably result in a bankruptcy as well).
Imagine doing this over the entire world, rather than following basic economic law and letting prices settle to where they should be in a free market.
Joe is also selling vital material needed to keep his business afloat. Imagine if you sold your electricity, natural gas, heating oil, coal and oil products to your competitors. While you are rolling in the cash (and keeping your prices low) doing this, soon the fuel will disappear.
What do you do when a “rainy day” comes and your reserves of fuel are depleted?
Yes, Joe’s strategies are ignorant. If Joe wants to run his life this way, that’s his choice. When he demands everyone else follow his practices or face fines and imprisonment, that’s socialism.
Aren’t you glad you decided to be socialist in 2009? (Meacham, John, “We Are All Socialists Now,” Time Magazine, February 6, 2009
