What the Ski Mechanic Did Wrong
Consider one rule which is the most often violated by the people who fail: You must bring in more money than you spend!
I knew a guy who was an expert ski mechanic. He bought some waxes, some plastic, an iron, some files, all the things he would need. He rented bench space in a store and put up a sign in the store window. Sure enough, skis started coming in. At the end of the first day, he earned $160. Did he spend it on advertising? Or maybe on more materials, or tools to expand his available services? No, he bought himself a pair of fancy cowboy boots and went to a party. His business lasted about a week. When it was time to pay the second week’s bench rent, he didn’t have it! Now that’s just plain bad business! You laugh, but it’s a true story, and variations of it are surprisingly common.