Understanding Value

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Sat 3 Jun 2006

Use The Best Tools - P.T. Barnum

Men in engaging employees should be careful to get the best. Understand, you cannot have too good tools to work with, and there is no tool you should be so particular about as living tools. If you get a good one, it is better to keep him, than keep changing. He learns something every day, [...]

Fri 28 Apr 2006

Select the Right Location - P.T. Barnum

After securing the right vocation, you must be careful to select the proper location. You may have been cut out for a hotel keeper, and they say it requires a genius to “know how to keep a hotel.” You might conduct a hotel like clock-work, and provide satisfactorily for five hundred guests every day; yet, [...]

Sat 22 Apr 2006

Don’t Mistake Your Vocation - P.T. Barnum

Posted by Tom Fairbanks under Principles of Good Business , Understanding Value
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The safest plan, and the one most sure of success for the young man starting in life, is to select the vocation which is most congenial to his tastes. Parents and guardians are often quite too negligent in regard to this. It is very common for a father to say, for example: “I have five [...]

Fri 14 Apr 2006

Good Health - Foundation of Success

Posted by Tom Fairbanks under Principles of Good Business , Understanding Value
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According to P.T. Barnum, the foundation of success in life is good health; that is the substratum of fortune; it is also the basis of happiness. A person cannot accumulate a fortune very well when he is sick. He has no ambition; no incentive; no force. Of course, there are those who have bad health [...]

Fri 7 Apr 2006

Economy - Independance

Posted by Tom Fairbanks under Principles of Good Business , Understanding Value
1 Comment

P.T. Barnum states the following from his work entitled “The Art of Money Getting.”
Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. But [...]

Tue 20 Dec 2005

Wealth and the Small Stuff

Posted by Tom Fairbanks under Understanding Value
[2] Comments

A philosopher stood before a class of eager students. Arrayed before him on the table were an empty mayonnaise jar and three boxes. With his students curiously watching and without speaking, he picked up the large mayonnaise jar and proceeded to fill it to the top with two inch diameter rocks, from the first box.
Holding [...]

Tue 6 Dec 2005

Value Roulette and the Appraisal Process

Posted by Tom Fairbanks under Understanding Value
[4] Comments

Beginning the loan application process without any idea of the actual value range of a property is something similar to launching a space exploration without knowing where you are going. Throughout the last twenty plus years, I have been asked continually to support the same kind of idiotic practice, by loan officers, mortgage brokers and [...]