Fads and Bubbles

//Fads and Bubbles
2019-01-02T15:49:55-05:00 January 23rd, 2019|Tags: , , |Comments Off on Fads and Bubbles

One of the earliest lessons I learned in business was the impact of buying into a fad. In 1981, Rent-a-Wreck determined that offering used cars for rent instead of new cars could be franchised across the country.

With the desire to be my own boss and desperate to leave public accounting, used car rentals seemed like a ground floor opportunity for me. A year later, I realized that renting used cars was a fad that died when most people determined new cars were more reliable!

Proverbs 4:26 teaches, “Give careful thought to the paths for your feet and be steadfast in all your ways.”

When exploring new or fast-growing ideas, give careful thought and prayer to the future. It might be a passing fad or a bubble about to burst.

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