Wednesday, June 15, 2005

Don't Believe Da' Hype

Public Enemy nailed that one business, never believe the hype!

What do you think of when you are driving and someone pulls up next to you in a brand new Porsche?

Wow, he must be rich! He must be really successful! I bet he gets a lot of chicks!

Ya know what I think (obviously you do if you are reading this), I think here's a guy who can come up with about $1000 a month to pay for a car lease.

The same goes for a guy/girl who wears expensive clothing and lives in an expensive house, unless you see their credit card bills and mortgage statements you have no clue if these people can actually afford what they buy. Having done a few deals and had access to the personal information of a multitude of people, I can safely say that lots of people like to bluff..............present a particular image to the outside world by living beyond their means.

Maybe they do this for a particular strategic business reason (attempting to intimidate) or maybe because they feel that they are entitled to a certain status of living, but as an outside observer, don't fall for it.

Take a look at large law firms in Toronto...........expensive offices, great art on the walls, the "I charge $600 an hour' mentality...............and from time to time have difficulty making payroll! The whole purpose is to intimidate/impress the clients.

I'd be more worried about going up against the little old guy who dresses like a bum, speaks broken english and has invested every dime he has in revenue producing assets, he's the killer..........most of the other are just stuffed shirts and wind bags.

You'll play him like a fool and come out the loser every time and I'll show you why soon


Blogger Anita Campbell said...

Hi Josh, I agree with what you say about watching out for the guy who dresses like a bum.

Some people are critical of the book "Rich Dad, Poor Dad" but I thought it had an important message to deliver: invest in revenue-producing assets that will earn for you.

To build on another book, "Millionaire Next Door," you find that is exactly how most millionaires achieved their zeroes on their net worth. They build assets that work for them, instead of chasing cash-burning lifestyles.

Nice blog.


Facteon blog

12:42 PM  

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