Originally Posted by GreenT
This thread should be a sticky. Thanks Procut for saying what many wouldn't dare to say.
When I joined this site it didn't take me long to figure out the failure rate had to be high in this industry. We have no standards, no baseline to identify problems, very few - if any - educational/licensing requirements, and any able body can get set up to do 'business'.
Knowing that many here - and I mean many, if not most - don't know the difference between a P&L and a balance sheet, gross earnings versus net, let alone the implications of their cash flow on their operation, is not encouraging.
It's sad, really.
I would agree many peoplle on the site are not very well informed on those things me included and i like procut because these are now making what i want to do more realistic. I like the job alot even when it is physically demanding but this thread makes it seem as though noyone can make it in this buisness i havent read one person who said they grew to fast and then slimmed down and then grew slow and smart and made it. Most people are saying they grew to fast and then they failed and never looked backed and i would like to hear more about what people did to correct themselves or what they should have dont differently. I want to grow big eventually and i want to be realistic but i now after this thread it seems it cant be done