Immediate gratification may provide poor long term benefits
This week a local trial just concluded. A young man, who was 17 at the time, was convicted and sentenced to life in prison without possibility of parole. He was convicted of killing his aged female next door neighbor to acquire her money, credit cards and car. The trial presented evidence of him supposedly running up the woman's credit card balances right after setting her home on fire (with her in it). His short term pleasure netted approximately $1000 in charges for personal items and he will spend his remaining life confined in prison. It's just a tragedy for both families involved.
What does this have to do with business? Well, just a way of showing that we need to plan and work within the laws of our country. By 17, this young man's life is done. We still have the freedom to decide on the type of business to own.
It may be scary to think about starting your own business but it is better than a short sighted, poorly planned grab for quick money with a huge downside if you get caught. The lady who was killed? She was a popular restauranteur whose children continue to enjoy the fruits of her business chances taken. She started her business (Los Barrios) with only $3000 and it has grown to be recognized as one of the top 50 mexican restaurants in the country. The daughter of the restaurant's founder was in a nationally televised cook-off with Bobby Flay.
Perhaps knowing that starting a business may provide for your children after you're gone will get you to seriously consider launching your own successful enterprise.
I am a local CPA in San Antonio and would love to talk with you on getting started.
Richard J. Garcia | 03/07/2010