Can you pass The Jimmy Love Test?
I first learned about The Jimmy Love test from the
lips of the late great car dealer himself in 1989 or 1990 when my company sent
me to a court-ordered bankruptcy auction to bid on and acquire the remains -
office furnishings and equipment - of a failed Main Street consultancy.
Jim Love and his entourage were among the vultures
circling the bones of the failed consulting business.
While we were waiting for the auctioneer to get
things started, Jim Love turned to his flock of scavengers and asked in a stage
whisper, "Who was this guy, anyway?"
While others shrugged their shoulders and shifted
their feet nervously, one member of the volt said, "He was some kind of
consultant."
"Consultant?" snorted Jimmy Love.
"And he's bankrupt? Why would anybody need a consultant who's bankrupt?
How much did this bankrupt consultant make last year?"
"I heard he made $60k," said one aide
de camp.
Pay attention to what Jimmy Love said next for
herein is the answer to the question "What is The Jimmy Love Test?"
"I made $4 million last year and this
consultant made sixty-thousand? Why would I need him? Why would anyone need
him?"
I've been reluctant to offer advice to rich guys - even when they ask me
a direct question - ever since hearing The Jimmy Love Test. And I've often
wondered how many good observations and ideas Jimmy Love didn't hear because of
The Jimmy Love Test and how many more millions he might have made had he not
measured peoples' worth by how much money they made.
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Higginbotham At Large does not read or publish pseudonymous or anonymous comments. When you click the "submit" button your comment is not yet published it is merely sent to me for my approval or deletion. Commenters who hide behind "handles", nicknames or other pseudonyms will not see their comments published here. If readers won't know who you are, I will delete your comment. No Ring of Gyges for you. I like email addresses that include the submitter's actual name like mine does: JosephHigginbotham@gmail.com.
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