- Thread starter
- #31
User Power
Value/Post Ratio
456%
- May 1, 2011
- 7,657
- 34,901
I think you've read Phil Kinght's bio – he too was a step from bankruptcy even when the firm was making millions in revenue.
I've read it. As far as I remember he wanted to turn this into a huge business right away. I have no such wishes.
Everyone who follows your path at best gets lucky once and "retires" just like you. Then they end up being back to broke 20-30 years later. Because you cannot escape the fundamental reality that competition eats away profits, and your golden opportunity is BOUND TO fail given sufficient time. It's by definition unsustainable, otherwise you would not be able to make such large profits so quickly.
It doesn't matter that your golden opportunity is bound to fail as long as you get enough time to reinvest the profits into other stuff. If you made $1 million a year for 5 years, who cares that your business would eventually fail? If you reinvested the $5 million into a sensible paycheck pot, it wouldn't matter.
I can live off my investments and savings for the rest of my life. I can't buy expensive houses or cars but my current lifestyle (which is very comfortable) is sustainable. The only reason why I want to build another business is to get to that next level. It's not a need anymore but a want.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.