Are you being hella stupid?
I’m working feverishly on an entirely new series on entrepreneurship. Before I launch that, here’s a related article that caught my attention.
Remember those recent auto ads about employee pricing that flooded the market recently? The ones about “Buy it for same the price we pay”?
General Motors lost an average of $1,227 for each vehicle in the first half of the year in North America, while its crosstown rival, the Ford Motor Company, lost $139, according to new research from Harbour Consulting.
From the article: G.M. Sold Lots of Cars and Lost $1,227 Each
Yes, these low-priced offerings resulted in lots of sales and some change in market share, but all in all, the company lost money. That’s what happens when you combine selling lots of cars for a really low price and an aging workforce that you promised to support.
In this case, more sales = bad. But in the short term, it looks great because all the charts go up and everyone looks really smart!!
Get a life, please. Long-term, this is bad.
And I think this relates to personal finance and entrepreneurship in a big way. Sometimes we make decisions that get us great short-term gains but sacrifice long-term ones. The cost is significant.
I know this sounds a little vague, but I’ll go into it more. Soon. And with some examples that will make you think, I hope.
Stay tuned for the series on entrepreneurship. If you have anything you want me to write about, you know what to do.
You ever wake up, hungover, and think back to something you said the night before, and physically cringe? Now imagine ...Read More