We received Andy Kessler’s article from a subscriber. His tilt is toward recent graduates, but it seems the content offers a lesson for us all. The subscriber also commented that beyond the concept of P & L statements is the unspoken reminder that the objective is P over L.
Source: The Wall Street Journal, May 22, 2016.
The basic idea is to postpone consumption. Then invest in production to supply goods and services that delight customers. Next, generate profits. Rinse and repeat. Your job is not about you, it’s about customers.