January 2009 - Bruce D. Greenberg
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“A Word for the Wise” – A 250 Year Lesson
Bruce D. Greenberg, MAI, SRA, ASA, President, Valuaciones Montaña Verde, SA de CV
“We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly.” These famous words were written by a scientist, an inventor, a printer, a philosopher, a musician, a statesman and an economist; Benjamin Franklin. This honored Founding Father of the Americas stated, “God helps those who help themselves”; words of wisdom appropriately written for today’s business environment as we struggle to maximize profit.
In this current cycle, it is imperative that we work to maximize our profits. Benjamin Franklin understood this 250-years ago when he wrote the guide of how to succeed in business titled “The Way to Wealth”. In 1758, 18-years prior to the signing of the declaration of independence, Mr. Franklin knew how to guide us through these unfamiliar economic times of today. As we enter into 2009 we are filled with more questions and uncertainty each day.
Mr. Franklin’s book provides inspiration and sets forth a strong work ethic. From a real estate perspective, I believe Benjamin Franklin would agree it is necessary for a real estate developer to comprehend the Basic Principles of Real Estate. I have paired these seven basic principles with quotes from Franklin’s “The Way to Wealth”.
Supply and Demand: “Buy what you do not need and soon you will sell your necessities.”
Anticipation and Change: “Beware of little expenses.”
Competition: “Fools make feasts, and wise men eat them.”
Contribution: “Always taking out of the pot and never putting in, one soon comes to the bottom.”
Balance: “A small leak will sink a great ship.”
Conformity: “Silks and satins and scarlet’s and velvet’s put out the kitchen fire.”
Externalities: “If you want to know the value of money, go and try to borrow some.”
Franklin also taught in his writings, “with our industry we must likewise be steady, settled and careful.” Information during these economic times is critical to the accomplishment of a successful project. “The eye of the master will do more work than both his hands.” Product reviews are key to survival in a slow recessionary market. “Keep thy shop and thy shop will keep you.” Understanding the project in and out, and performing professional market studies, feasibility studies, competition analysis, pricing analysis and product analysis is more important today than ever before. Montaña Verde is committed to providing the developer and lending communities with recovery plan services and assisting in maximizing the stakeholder’s recovery during these difficult times.
Benjamin Franklin concludes his doctrine stating, “Those who cannot be counseled cannot be helped.” As we enter into 2009, remember the lessons of Benjamin Franklin: 1) Work hard and be smart; 2) Work hard with care and surround yourself with information; 3) Be frugal, analyze and test your project; and 4) Have the knowledge to make the right decisions.
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Additional Inspirational quotes by Benjamin Franklin written in The Way to Wealth:
• “If you love life, then do not squander time, for that is the stuff life is made of”
• “The sleeping fox catches no poultry”
• “Lost time is never found again”
• “He who rises late must trot all day”
• “Early to bed and early to rise makes a man healthy, wealthy, and wise”
• “There are no gains without pain”
• “At the working man’s house hunger looks in but dares not to enter”
• “Industry pays debts, while despair increases them“
• “Never leave to tomorrow what you can do today”
• “The cat in gloves catches no mice”
• “Since you are not sure of a minute, do not throw away an hour”
• “A life of leisure and a life of laziness are two different things.”
Bruce D. Greenberg
520-750-8200 (US)
Bruce@MVConsultants.com