(DO YOU) KNOW WHEN TO HOLD 'EM, WHEN TO FOLD 'EM(?)

"Nobody ever lost money taking a profit."

Bernard M. Baruch (1870-1965) American financier/political consultant

This is more about timing with "profit" covering everything from making money to deciding when to leave one job for another.

It's not as much about what you do as it is when you do it.

It's Only (Their) Money

"When the well's dry, they know the worth of water."

Unknown

As an employee, how often (do) you think about the limitation of company resources available to support you all?

You should, every day.

Neither A Borrower Or A Lender Be?

"If you can't pay for a thing, don't buy it.  If you can't get paid for a thing, don't sell it."

 Benjamin Franklin

18th century American statesman

Leave it to old Ben to reduce commerce to its most basic form, with a dose of New England pragmatism thrown in for good measure.

Don't over extend is still good advice but how practical is it to attempt to conduct business this way?  

I never could have started and grown my companies had I not sometimes borrowed and had I not accepted some assignments where I might not (sometimes did not) get paid.

Not What You Make, What You Keep

"Profits are an opinion, cash is fact."

Unknown

Each year my accountant and I would sit down just before year-end and plan how to close the books, taking into account the realities of income and corporate tax rules.

Nothing illegal, just maximizing what the company would keep. Obviously the less profit I reported the less tax I paid and while everything we did was legal, the process taught me how little value there was looking at a P&L when evaluating a company's performance.

Now I see a regular stream of start-up companies telling me not how much they will keep, but rather how much they will make.

There is a big difference.