Be a Survivor

• When you see what looks like an opportunity for big and fast growth, resist the temptation to finance it by borrowing. If businesses were vehicles, cataloging would be a pickup truck—solid, reliable, but no head snapper when it comes to quick acceleration. Betting on super-fast growth in cataloging is never wise. And trying to finance super-fast growth with short-term debt is even less wise. Finance growth out of profits or sell stock.