_________ Changed...Time To Bury Your Head In The Sand

Thanks for the interesting pieces of advice, Mike. Many don't realize your business needs as much planning as your overall personal financial portfolio. Your overall personal financial portfolio should cover your business, because it's just a component of your overall personal financial portfolio. And, a plan needs to be in place for the sustainability of your overall personal financial portfolio, risk management, contingencies, growth and expansion. For instance:

=>> Say you start out with income, be it from your first business or from a regular day job. This income should also provide you with assets (insurance and if a day job, retirement options among other benefits) and network and credit resources. You should then grow your income, because as your income grows, so do your savings and network and credit resources. So, in case of disaster where you lose your income, you can use your savings and network and credit resources to establish another income source. And, as your savings grow:

=>> So should your assets, and as your assets grow, so would your network and credit resources. As your income, savings and assets grow, so would your network and credit resources. In case of a disaster where you lose your income and savings, you can use your assets and network and credit resources to establish your savings and income. Once you establish your savings and income, you can then acquire the assets you liquidated. And, as your assetss grow:

=>> So should your investments, and as your investments grow, so should your network and credit resources. Growing investments don't just mean growing income, savings and assets, but in fact separate additional income, savings, assets, investments and network and credit resources (I'll elaborate later in this post). In case of a disaster where you lose your assets, savings and income, you can use your investments and network and credit resources to establish your income, savings and assets, and once you establish these things, you can acquire the investments you sold. By the time you have growing income, savings, assets and investments:

=>> You have large network and credit resources. In a rare occasion where you substantially lose your investments, assets, savings and income, you can tap your network and credit resources to establish your income, savings, assets and investments, and once this happens, your network and credit resources will again grow. Now, what I meant that a business (in a set of businesses and other investments as a component of your investments under your overall financial portfolio) should be treated with its own income, savings, assets, investments and network and credit resources as separate from and additional to your income, savings, assets, investments and network and credit resources:

• Your business should be sustainable. It should earn growing income (gross and net). With growing income comes growing savings and network and credit resources. With growing savings come growing assets, income and network and credit resources. With growing assets come growing investments, savings, income and network and credit resources. With growing investments come growing income, savings, assets and network and credit resources. This one business (out of say five businesses under your investments covered by your personal overall financial portfolio) has its own financial portfolio that you can use to establish its income, savings, assets, investments and network and credit resources in case of disaster. This means when all five of your businesses go bankrupt despite your risk management processes and contingency plans and its own income, savings, assets, investments and network and credit resources available to be used to establish these things for your businesses (which should be quite difficult to happen if you set up your businesses this way):

=>> You still have your own income, savings, assets, other investments and network and credit resources under your own overall personal financial portfolio that you have yet to touch, and of course, this should be better and larger than the financial portfolios of your businesses, since your businesses are only under the investments section of your overall personal financial portfolio. At this point, your miles and miles and miles away from being homeless, dependent on welfare and begging on the streets for food. That's for sure, unless of course you suddenly get abducted by aliens, trapped in a time warp and when they return you here, 200 years have passed, and your overall personal investment portfolio's gone, though you won't most likely need it, since the human race could be grouping themselves in rebel clusters, hiding in underground cities and fighting for their lives and control of the planet against AIs and the Matrix...