THE PRESIDENT: No, no. When he came with us, as you know, he was the responsible officer on the Continental Can Company, and he said he would take leave of absence till January. And then in January we asked him to stay further, but he has said for several months now that he really felt that his obligation was to return. He has recommended very highly the responsible Americans who are there. When he comes back tomorrow I am going to ask him, and I am sure he will respond, to continue to act as consultant to me on the matter of Berlin, to make periodic visits and to be available to return there at any time that we should conclude that his presence would be valuable. So that we have -- I noticed that Mayor Brandt said that General Clay might be more helpful to the cause here than he would be even there, and I think that what the Mayor meant was that his experience there and his work in the last seven months would be very valuable to the Administration. So his service continues and the problem in Berlin continues.
King: The book that I wrote, called The Courage to be Profitable, explains it in English, in terms they can understand. And it's available on audio if they prefer to listen. I mean, go get a book like that. Go read the industry publications: HVACR Business, The News, Reeves Journal. Whatever I'm missing. I mean, there's a lot of them! And take 10 minutes a month to read those. Or, scan through most of them until you get an article--that's not technical-- that you're interested in. Go to trade shows. There's a lot of industry events. Invest the time to work on your business rather than in it.
You've got to make a decision. Either, I'm going to grow the business; or, I'm going to stay at $600K, drop it a little bit and do it myself. Most contractors want to grow it; so, they've added layers of overhead. They've got to have their first dispatcher--maybe a technical field supervisor, maybe a salesperson. You're adding all this overhead in the office at that point. And you don't have the revenues to support the office. It's like: oh my gosh, I'm making a whole lot less money than I was making all by myself. Why am I doing this
We must seize the opportunities presented by industry transformation, have the courage to increase investment, and seize strategic opportunities. With sustainable and profitable growth as the ultimate goal, we need to stay strategically focused and seize the strategic high ground, thus laying the foundation for survival and development over the long term. (Ren Zhengfei: Guidelines on the Analysis of the Business Environment and Key Business Strategies, Corp. Doc. No.  081)
What this means is that if you are using your entire trading capital to buy options, and say you are trading just once a day, you could potentially lose 10% (0.5% x 20) or more of your trading capital just in impact cost every month. Let that sink in, 10% every month just in impact cost over 20 trades to remain profitable. Of course, you can have a few good months where you can earn more than 10%, but in the long run, the odds of coming on top with such a high impact cost reduces significantly. 153554b96e