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Tough times…time to revisit a guru This is the 6th recession I have been through in the last 47 years selling businesses. This one is different. But the sun will shine again.As with many businesses we are experiencing a downturn in sales, increased costs, and compressed profits. Time to revisit our favourite guru, Robert. J. Ringer – the apostle of reality. He advises that hard work will not guarantee success, but it certainly won’t prevent it, that we must treat negative results as a learning experience, and that we should be selective about the deals we work on. His whole philosophy is different. He tells us not to take ourselves too seriously but stresses the importance of legal power (having good documentation) and performance power through becoming a fanatic on operational procedures. An “oldie” but a “goodie”. A letter we enjoyed reading “fortunately you have a landlord and solicitor for the landlord who are acting graciously and not argumentally or pedantically. Otherwise the deal might have been killed.” - from a letter from a solicitor to one of his colleagues. |
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