Making Your First Million.pdf - Association of Net Entrepreneurs and ...
Making Your First Million.pdf - Association of Net Entrepreneurs and ...
Making Your First Million.pdf - Association of Net Entrepreneurs and ...
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<strong>Making</strong> <strong>Your</strong> <strong>First</strong> <strong>Million</strong><br />
Richard is a business colleague <strong>and</strong> friend who makes a living from the share market. He<br />
had a few million in highly leveraged speculative stocks <strong>and</strong> was doubling his net worth<br />
every 18 months or so. Coming up to the crash <strong>of</strong> 87 he was readying to flee to cash<br />
when his wife decided to divorce him. Now, this is a painful thing to have happen, I<br />
speak from personal experience, but under normal circumstances it should not have<br />
caused serious damage to his business. But it did. She took out a caveat restraining him<br />
from disposing <strong>of</strong> any <strong>of</strong> his assets till a property settlement could be effected. And the<br />
October crash wiped him (<strong>and</strong> her) out. It took Richard 3 more years to get back on his<br />
feet <strong>and</strong> make his next million.<br />
Focus on fine tuning your by now mature business to squeak the last bit <strong>of</strong> pr<strong>of</strong>it out <strong>of</strong> it<br />
<strong>and</strong> squirrel ten percent away. Year after year. Ten percent. By all means take risks.<br />
That's the only way you'll get ahead. But gamble with the ninety percent <strong>and</strong> hang onto<br />
the ten. That way, even if the ground opens up <strong>and</strong> swallows all your business empire, or<br />
your business just declines gracefully <strong>of</strong> old age, you will have kept the cream.<br />
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