Monday, April 11, 2016, AM | Leave Comment
Remember when old bankers had watches on chains, three-piece suits and were so stingy with money?
Perhaps, the sub-prime mortgage crisis would not have occurred if they had remained nitpicky.
Here are 6 old ways to be nitpicky about your modern finances.
Some Things Never Change
Some needs never change. You need food to eat. You need clothing, warmth and shelter. Successful businesses have adhered to the same fundamental laws throughout history.
You profit by spending less money than you take in. Successful investors must try to avoid losing money. These are some of the words of wisdom underlying all markets.
Rainy Day Fund
Some corporate giants love to quote generals, like Napoleon. Generals must face the most serious problems and create live-or-die solutions. Here are some of the best Napoleon quotes:
“Never interrupt your enemy when he is making a mistake.”
“A leader is a dealer in hope.”
“He who fears being conquered is sure of defeat.”
Napoleon always had reserves. At the Battle of Waterloo, Napoleon failed when his last reserves – the Imperial Guard – were defeated. Likewise, you must always have a reserve, surplus or rainy day fund for emergencies.
Napoleon succeeded because of his expert usage of artillery. He understood mobile artillery having learned this from studying Prussian, Frederick the Great. A good business can outmaneuver its competition and use technology to gain an edge.
The best business chat software allows you to communicate, share and sell your products and services more effectively. Other types of technology, like finance software, can also help track and manage your finances.
Flair & Fame
In the 1920s, the top business men wore top hats as a sign of their success. Napoleon had his famous pose with his hand in his vest.
Showing some flair when you succeed can help you handle the tough times. This confidence helps your employees understand that you are in control. This can-do spirit is a key to good leadership.
Keep it Simple
Green Bay Packers Coach Vince Lombardi had some of the most famous teams in NFL history winning the first two Super Bowls. Lombardi-coached teams worked hard and did not give up. Vince Lombardi: “The harder you work, the harder it is to surrender.”
Football is a war. Players are down in the trenches giving their all. They can’t guarantee success. All they can guarantee is effort. They hope their hard work will lead to victory. Persistence is a key to finances.
Most “get rich quick schemes” don’t work. You end up worse than when you started. Keep your plan simple and work hard for the best results.
Follow Your Budget
Used car salesmen and snake oil salesmen have always offered something for nothing. They promise the “easy way out.” Nothing has ever been easy. Be prudent and wise.
Create a budget and stick closely thereto. The budget is like the coloring book – it gives you the lines, within which you must color. Without boundaries, you have chaos.
Order cheap checks for tracking finances. You stay organized, control your budget and allow your workers to focus on the details. Your checks are returned after they are cashed making it very easy for your accountants to manage the books. Give your staff the tools they need to succeed.
You still need to eat food to live. Likewise, business men still must follow the economic fundamentals that have never changed throughout history. The billionaire does not follow the foolish ways of the herd, but maintains his nitpicky habits through rain and shine.
Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on twitter and Facebook.