“We had a lot of money, and we spent it.”

Real estate eyesores. Corporate waste. Gaudy décor.

The problem with having a lot of resources is that you can be a little reckless. You can make foolish choices and still play again tomorrow.

But when budgets are tight and margins are thin, good decision-making is key to survival.

The goal is to make good decisions regardless of whether there are assets and safety nets. To choose wisely when rich and to choose wisely when poor.

Just because you can weather mistakes doesn’t mean you need to make them.