So here is the deal. I finally became an owner of a multi-million dollar company, which I was hell bent on making it successful. That is all well and good, and I had a lot of creative thoughts to get us out of the mess I inherited but, and this is a big but...... you need to realize how to prioritize and you need to recognize what is really important!
You see when I bought that company I had visions of a knight in shining armor, riding up to the gate and freeing everyone inside and saving the day!!! WRONG!!! WRONG!!! WRONG!!!!
What I really did was put a bank that was going to get absolutely crucified by a loan that wasn't guaranteed and gave them leverage... there is that ugly word, leverage..... it is something most people don't think about, but it is one of the single most important words in business. TRUST ME.,,
Do you think Donald Trump is a genius? Do you think Charlie Sheen is a genius? The answer is NO in both cases, but both have a full understanding of ONE concept, and it is THE concept!!! LEVERAGE!!! I guarantee you that any deal Donald Trump does is based on a formula based on leverage!! He may not know how to marry women but, HE definitely knows about leverage.
You see banks think of leverage as just a formula. That is why the idiot college grads going to mediocre schools getting mediocre grades all become banker's. They are in reality the belly of America's blue collar worker's they just have a clue about buying a cheap suit and a red and blue tie.
Enough about that, if you don't, as a business owner learn about leverage and negotiation, you are dead. Game over, take your glove and go home.
You see I made the mistake of signing a deal that gave a drowning bank a position that they never would have had and in return I, at that time, didn't know how to get anything back in return.
Let's put it this way. I would love for that deal to be on the table tomorrow, and let's see what would have happened.
There is more to come, about real business examples and things every small business owner, entrepreneur, or aspiring entrepreneur should know. I am changing the tone of this blog right now. From now on, it will be experience based information. Please read and listen to what I am going to write. It will save you several thousands of dollars going to Harvard B school at night!!! Which by the way, is where all the real entrepreneurs and people with ground-breaking ideas go!! Because THEY ALL HAVE JOBS DURING THE DAY, ONCE THEY GRADUATE COLLEGE!! Which is a JOKE by the way, and those are the people who know it!!! Joe