There is a concern I have for our businesses again as there seems to be another hyped-up market that is poised for a fall. I’m not simply talking about stocks here, I’m talking more about attitudes.
As people continually refinance homes or buy them at high prices thinking that they can hold them for a few months and they will be able to sell them again at huge profit, this reminds me of the internet bubble all over again.
Or I remember when I lived in Texas the savings and loan debacle happened in connection high-risk loans being borrowed out based upon figures that historically couldn’t be justified and yet were ignored regardless of the exhorbitant figures being thrown around.
The minute you begin to think that this is a special season of growth different from past experience, you’re setting yourself up for a fall. Just look at several years ago when the abuse of venture capital as it was poured into the internet companies simply went up in smoke with nothing to show for it. A lot of it based upon the silly hype that acted like there was something of magic happening that could allow companies to do whatever they wanted with no financial consequences.
Just remember that no matter what the media says or the darlings they like to hype up for the purpose of attracting eyeballs, don’t take what they are saying too seriously.
You must have a solid USP and business model that you are working from. Business will never veer from the reality that you must turn a profit; it can never survive as some time of ponzi scheme in the mind of its creators.
Who in the world can’t get money and just spend it into oblivion? Is that a business? Absolutely not. What am I saying? There will never be anything in existence that will change the rules of a business needing revenue coming in and continuous innvation in response to customer wants and needs.
Anything else, no matter what you want to call it, isn’t a business!
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