Hello there Y’all. I’m hoping that you are all feeling fine, and living the good old fashion North American Dream. I was reading an article on-line the other morning and it was about the Rich, Middle Class, and the Under Privileged. The point was that society as a whole has made this Middle Class a group of peeps that are consumer based and they consume (Buy) things simply put because they can, they even go into debt to keep the spending and Status Quote in and around their neighbourhoods afloat. We as business owners call what they spend (Chasable Dollars). Your company is in competition with the Shoe Co.’s Tim Hortons, Mc Donalds (Take-Outs) Kitchen & Bath, etc. Always expanding. They say that when designing a new product to either improve upon another product that was designed with few functions or was useless out of the gate (and make it better) or make it something that makes life simpler or easier for the kitchen, Garage, Livingroom, and my fav. the Bedroom.
Now the poor and underprivileged seem to follow the same model, as the middle class but run out of money and credit much quicker and easier. They live either month to month (Cash Inflow) Social Assistance, Disability, WSIB, etc. or work several part time jobs and live (Cash Inflow) paycheck to paycheck.
The well off (Rich, Filthy Rich, Wealthy, Family Monies, Over Paid, CEO, CFO, COO, etc.) well now they go about it (Money Managing) with a whole different mindset in place. They keep most of their spending down to necessities and Assets. The only Assets they purchase are assets that turn out more income, monies, bankrolls, etc. Some assets can be payable assets. A Car for an example is an asset once it is paid off but not until then. It is an income asset to the Car maker but only until the purchaser has finished their payments. (Then they just make a New one, to sell. LOL Business 101) So with this type of thinking and spending going on they seem to be replenishing their funds at a pace that well outpaces their spending habits which we have already shown is only on necessities or things to keep them alive. I can’t count the times that I’ve read stories about old misers that keep their wife’s, children and any other free loaders in rags and beaters (Run Down Cars, campers etc.) because he/she always screams poor at every chance they get, only to be exposed of THEIR true wealth upon his/her death or serious illness. Somewhere along the line in his/her upbringing , he was taught how to accumulate wealth and especially how to keep and maintain it. Now with any luck, he/she has instilled in his/her children the value of a dollar and how to maintain their wealth or all their hard work was for nothing. Usually, it’s the third generation that puts the business, Corporation under because they were not close enough to the hard work (Blood, Sweat & Tears) to build the company in the first place. I was fortunate to learn at an early age that some of the best assets are equipment and tools because they will make you monies if you know 1) how to use them, or 2) how to sell the product or service they will make. This is the main reason picking your instruments (Equipment) are greatly important which one will let you generate income with the least amount of time used to make your product or services. So in conclusion to our story, we should have come to the conclusion that anyone can build wealth and maintain it along with building it further. This is why I have a hard time getting angry with the rich as long as they are not looking or putting me down at every turn because if they are born into it, then they only know (1) thing keep accumulating it, if they built it well it’s like pushing a snowball down a hill it just keeps getting bigger and they go with it no different then I would. So to be poor is some people’s choice. Anyone who can read can make out well in life they just have to Go for It. Success isn’t just a stack of failures, It’s the knowledge that You must continue (Maybe Change Some Things) but You must Keep Going and once it all comes together as You planned it would, well then You and only You can judge how successful you really are. KEEP Going.
I Thank You for Your Time and Hope this Helped You & Your Business out.
Our Kindest Regards
Andrew R Thomson