The economy that we are in today is rapidly disproving many established theories in business and investing. The only folks that are looking like geniuses right now are the most conservative, non-leveraged ones. I find that very interesting.
It’s the ones who were plodding along, investing in low-yield, long term investments and owned everything cash who still have a smile on their faces. It’s the depression era investor who is going to survive the one we are moving into in one piece.
Even in the corporate world, books like Good to Great were held high as the book to end all books to guide corporations to success as a model. Yet, many of those named “great” companies are now belly up or almost there. Again….interesting.
What I think entrepreneurs have to look at right now is that we are in the perfect storm. Something that can only happen if all the stars align. Does that mean we spend our life preparing for the perfect financial storm? Preparing….yes. Obsessing…no. Just learn from the plodders. They have a proven model for long term wealth. P.S. It’s probably your grandma or grandpa. (Just obsess less than they did. It’s more fun.)