Price and Value

Price is where we can make our mark on the world, by riding for the Brand. Before the application of a Price, there has to be a crystal clear Vision of purpose.

Branding IronsThere is a chorus from a song by the Zac Brown Band that might be apropos to the discussion of Price and Value:

“Save your strength for things that you can change — forgive the ones you can’t. You gotta Let It Go!”

Our frustration comes from believing that we are in control of Value and that customers are in control of Price. Quite simply, that is ‘bass-ackwards’.

Value — just like their worldview — is our Customer’s perception of it. Only, they determine the amount of Value they see in us and the Product, or Service, we provide to them.

Price — determined by the entrepreneur — is where we can make our mark on the world, by Riding for the Brand. Although chic in our business terminology, a Brand is multifaceted in design and purpose.

What is ours?

From the earliest days of cowboys in Montana, brands marked possession, of cattle, mostly. Yet the ranch brand was found above entryways, chiseled into fence posts, worn on belt buckles, and otherwise displayed to the world.

Are we so bold?

When brands are applied to the hide of cows and horses, there is pain — to the animal and to the cowboy. Hair is burnt, skin is scarred, and the cowboy grits his teeth to apply the mark artfully. It is a permanent relationship between him and the animal.

Are we as caring?

Before the application of Price, there has to be a Vision. One which is crystal clear in communicating: Why we are in business, What we represent, Who we want to serve, How we intend to do it, Where our boundaries are, and When we intend to begin
— Riding for the Brand.

www.kimfoard.com

Distinguished

When two distinguished individuals focus on building dynamic relationships, they successfully advance the growth and discovery of all in their sphere of influence.

Distinguished

Last week, a woman said to me, “I’m open to anything.”

The week before, a woman commented, “I’m all caved up.”

As a man and subject to the impulses of the visual creatures that we are, naturally, the image of Open messed with my mind more so than Closed. As a gentleman and wanting to maintain the PG-rating of this forum, that runaway thought was quickly corralled into the larger issue: Sieves and Stones.

Questions: How far will someone go who is open to anything? How captive is someone who is all caved up?

Answer: Only, they know.

The common thread between the two is that neither has taken the time and energy to discover who they, really, are, or what they want for their lives. It’s so much easier to let someone else make the decisions for them and then be disappointed when things don’t go as fantasized.

Although the phrases were spoken by different women at different times, they are actually the spectrum of dysfunction. Let’s take a look at the combined effect and (unspoken) reality: “I’m open to anything (as long as you keep me happy). (If you misbehave and hurt me) I’m all caved up.”

On one side of the spectrum is an individual with Sieves for boundaries; everything pours through. On the other side of that stormy rainbow is an individual with solid Stones for boundaries; nothing can penetrate their defenses.

One word explains the essence of their craziness: Immaturity.

Children are open to anything and everything, because they lack the perspective, which comes from the knowledge, wisdom, and understanding, of education and experience. Those same little kids get their feelings hurt when another person tells them, “No.” Then, they go on to react as either: Rage-ers, by throwing a tantrum; or, Stuff-ers, by pouting.

Mature individuals accept responsibility for their own learning, growing, and doing. Daily, they make a purposeful effort to work on the things within their control and to consciously forgive the rest. They fully understand the importance of the boundaries which define where they end and another person begins. In the simplest of terms, they are: Distinguished.

Definitions:

Characterized by excellence or distinction; eminent.
Dignified in conduct or appearance.
Noble or dignified in appearance or behavior.
Eminent; famous; celebrated.
Advanced in character, attainment or reputation.
Of great significance or value.

Synonyms:

Eminent, great, important, noted, famous, celebrated, well-known, prominent, esteemed, acclaimed, notable, renowned, prestigious, elevated, big-time, famed, conspicuous, illustrious, major league.

Let two distinguished individuals come together and the odds of a mutually rewarding, healthy, and growing relationship skyrocket. One word and two people is the secret to building dynamic relationships and taking our society to new heights of discovery!

www.kimfoard.com

Offer & Acceptance

From the quid pro quo of dysfunctional relationships to the generosity of healthy, vibrant, dynamic relationships, the journey is made by walking together in agreement.

Offer & Acceptance

A friend remarked, “Ninety-plus percent of intimate personal relationships are based on nothing more than business transactions.”

At the time, I found her comment distasteful. Since then, I have taken off the rose-colored glasses and actually seen how couples behave in their relationships. Increasingly, I have noticed more of the quid pro quo inherent within what many fantasize to be a loving relationship.

As I listen closely to their words, the intent of their heart is expressed, “Yes, he is the leader of our family, because I say so.”

What?!

Recently, I have been able to weave the last few years of observation into a theorem, which proves my friend wrong in prognosis. The vast majority of personal relationships aren’t based on business principles. In fact, they don’t, even, rise to that level of common courtesies.

For those desirous of building dynamic relationships, consider this:

Give our Best
Pause to Rest

Guaranteed, this article is multifaceted. It will thoroughly thrill and consciously chill, you, with a wonderful blend of logic and emotion.

From the annals of history comes an accepted parable of wisdom, “Can two walk together unless they are agreed?”

The simple answer is: No.

By default, then, for two people to walk together, or do anything together, they must be in agreement.

The de minimis requirement for a valid business contract is agreement.

Contract law is based on the principle expressed in the Latin phrase pacta sunt servanda, which is usually translated “agreements to be kept” but more literally means “pacts must be kept”.

As a means of economic ordering, contract relies on the notion of consensual exchange and has been extensively discussed in broader economic, sociological, and anthropological terms. In American English, the term extends beyond the legal meaning to encompass a broader category of agreements.

Common Law jurisdictions recognize a high degree of freedom to contract, with the parties largely at liberty to set their own terms. In other words: Freedom of will to choose what is right for the individual. There is, only, one person who knows what that is: the individual.

The elements of a contract are mutual assent and consideration.

Mutual Assent

Mutual assent is typically reached through offer and acceptance; in other words, when an offer is met with an acceptance that is unqualified and does not change any of the terms. The result is a concurrence of wills or ad idem (meeting of the minds).

Consideration

Consideration is something of value given by a promissor to a promisee in exchange for something of value given by a promisee to a promissor. Typically, the thing of value is an act, or a forbearance to act when one is privileged to do so. The purpose of consideration is to ensure that there is a present bargain, that the promises of the parties are reciprocally induced.

In most systems of law, parties have freedom to choose whether or not they wish to enter into a contract, absent superseding duties. In American law, one early case exemplifying this proposition is Hurley v. Eddingfield (1901), in which the Supreme Court of Indiana ruled in favor of a physician who voluntarily decided not to help a patient whom the physician had treated on past occasions, despite the lack of other available medical assistance and the patient’s subsequent death.

Such a simple concept: Freedom to Choose.

We think nothing of claiming the right for ourselves. Do we graciously extend the same right to others? Or, do we make an offer and accept it for them? Laughable?!

Consider the last time you did something nice for another person and they rejected it. What was your reaction? Offended? Thinking, “How dare they?!” Here is the issue: Your definition of nice may not be the same as theirs.

The root of dysfunction in any relationship is the bad belief that we know what is best for another person. It is Our Bad to believe another person could, should, would (all of the ‘ould words denote an aura of judgment) accept what we are offering. That belief is bad, not the individual who says, “No, thanks.”

Give our Best
Pause to Rest

Let’s take a look at the ABC’s of building dynamic relationships.

Attitude

The foundation for success is an attitude of service to others.

Offer to fulfill a need, satisfy a desire, or fix a problem and a relationship is possible. This initial effort to give value begins the circular motion for acceptance to be received.

The sphere of benefit and influence will grow relative to the effectiveness of our communication. Crystal clear transmissions, static free receptions and a dedicated channel of feedback produce a synergy of unlimited potential.

Knowledge, wisdom and understanding are required as a prerequisite to valuable exchanges. We learn, grow and dream by focusing on Facts of the Past, Choices in the Present, and Vision for the Future.

Purpose in life is discovered by acknowledging a power greater than ourselves; delivery of value is possible by being a conduit for timeless and priceless gifts.

The greatest gift is a chosen, purposeful effort, often done in the face of fear, to nurture our own growth and the growth of others!

Boundaries

The walls of success are plumb and square because of a clear definition of ourselves and an understanding of others.

Until we clearly define and communicate what we want for the present and future, it is futile and even dangerous to pursue long-term relationships. Our individual commitment to a course of action is necessary before others can offer to help.

Definitive expectations allow another individual to make a judgment for themselves if they are able and willing to be a complement. We each have the right to say no to anyone, anytime, anyplace and for any reason.

Respect is only possible with clearly defined boundaries. The sovereignty of a country is defined by its border. As individuals, we are citizens of one.

Self-respect is everything that goes on within our boundaries. Respect for others happens at the border and according to mutually acceptable customs.

Profitable interactions occur through doors of opportunity that swing on the hinges of “No, thanks.” and “Yes, please!”

Commitment

The crowning glory of success is the courage to always do the right thing.

Until one is committed
There is hesitancy, the chance to draw back,
Always ineffectiveness.
Concerning all acts of initiative (and creation),
There is one elementary truth,
The ignorance of which kills countless ideas
And splendid plans:
That the moment one definitely commits oneself,
Then Providence moves too.
All sorts of things occur to help one
That would never otherwise have occurred.
A whole stream of events issues from the decision
Raising in one’s favor all manner
Of unforeseen incidents and meetings
And material assistance,
Which no person could have dreamt
Would have come their way.

I have learned a deep respect for one of Goethe’s couplets:
Whatever you can do, or dream you can, begin it.
Boldness has genius, power, and magic in it.

In the great state of Montana, we have an expression and tradition: “Good fences make for good neighbors.”

Those fences mark the boundary edges of ownership. They are the fine lines of distinction between what is mine and what is yours.

Now, consider the title of this article: Offer & Acceptance.

That little “&” sign is the difference between a healthy, vibrant, dynamic relationship and one that is dysfunctional. It is representative of a Montana fence and the fine lines we walk in life.

On the one side is my right to Offer; on the other is your right to Accept, or not. Depending on what I’m offering, your answer will be, either: “No, thanks.” Or, “Yes, please!”

One, or the other. Moment by moment; step by step; offer by acceptance: we choose to walk together, or not. One is not better than the other. What is important, though, is that we have an honest relationship.

Two mature individuals deciding what is best for ourselves, communicating that boldly and clearly, while mutually giving our best, and the freedom to choose, to our partner.

Give our Best
Pause to Rest

www.kimfoard.com

Innovators

Innovator is: all (IN); motivated by (NO); and a fearless combination of Darth Vader and Stealth Raptor (VATOR). They triumphantly raise the new over the objections of the old!

InnovatorsNew Creations

Doers are focused on Giddy-up Go!

Naysayers are happy with the Status Quo.

“Because something has been done a certain way,”

Is cause for the effect of “the same results each day.”

Those, seeking for a better way, know,

The secret to success is a passion to grow.

Doers are an enigma to the Naysayers.

Those who Do are ostracized by those who Can’t.

The ones who say, “It can’t be done.” are, by choice, in a rut. They might be comfortable there; yet, they have stopped growing. When individuals decide to stop growing, they start dying. The purest definition of a rut: a grave with the ends kicked out.

Let’s break down the word Innovator to see that of which they are made.

In-no-vator

In: They are all in, as in Committed. We might think of the Poker player, who goes “All in.” Or; we consider the athlete, who is “In the game.” Maybe, even, the warrior engaged “In battle.”

No: They are motivated by this little word. At the precise moment they hear it, they gear up. Where, just a heartbeat before, they were tempted to give up, think the goal impossible, believe the effort futile; now, they focus on doing what others say can’t be done.

Vator: They are a fearless combination of Darth Vader and Stealth Raptor. For those of the Star Wars generation, that fictional character was mysterious; for those patriotic souls with a belief in our national symbol, the swiftness and grandeur of the Eagle in flight is exhilarating.

All things new begin with a thought, by an innovator who believes in the “magic” of discovery. A sage proverb advises against stitching new onto old. That which has become old is no place to display that which is new; the new appears out-of-place and, in fact, makes the old look bad. The greater lesson is that, when stress is applied, the new will tear away from the old; the value of both will be diminished.

The moral of this story: For those happy in your ruts, look up to the edges of the known to observe those discovering new frontiers. For those innovators wondering why your efforts are received with less than enthusiastic response, remember and be encouraged: The joy is in the Doing and we learn by Doing; we will, always, enjoy the rewards from learning and growing!

www.kimfoard.com

A Better Business Plan

This is a blueprint for how to begin building dreams into reality. Literally, in 5 Minutes, you can understand the cornerstones of a brilliant Business Plan!

BlueprintsBlueprint For Success

A seasoned carpenter shared this secret to success: “You must begin — and, begin again.”

For the dreamers among us, the question is: “Where do I begin?”

The purpose of this article is to provide the parameters for a quick analysis of an idea to determine its possibility, and probability, of actionable success. As with any legitimate construction project, we build it on paper, first.

This is our blueprint.

Owner Compensation
The concept of beginning here is novel for a Business Plan. Yet, this number will keep our attitude right and provide the Retained Earnings for business expansion. One of the principles of success is: Begin with the End in Mind.

Debt Service
Unless adequate funds are available for start-up, the early years will include a Banker for a partner. The goal is to buy them out as quickly as possible to retain their share of profits, which are paid out of our business as Interest.

Taxes
Self-employment, Federal income, and State income taxes must be paid timely. Because of severe penalties for non-compliance, governmental entities are a bad source of financing.

Overhead
This is the delivery system of providing value to the marketplace. It is everything from the brick-and-mortar to indirect expenses. It is the price we pay to have a Company.

Direct Costs
Each project and customer will want, and need, something different. The flexibility to “Wow!” them requires additional expenditures.

Productive Units
All of the above is accomplished by understanding the finite number of units available for distribution. For service enterprises, this will be a reservoir of “Hours”; for a products company, this will be the capacity of the “Shop”; and, for an inventory business, this will be the “Goods”.

Formulas:

Net Income = (Owner + Banker) / (100% – Tax Rate)
Value to Customers = Net Income + Overhead
Sales Price = Value to Customers + Direct Costs

Example Variables:

Owner Compensation: $80,000 ~ [For the Family, after taxes]
Debt Service: $40,000 ~ [Loans $200,000; 5 Year maturity]
Tax Rate: 40% ~ [S/E 15.3%, FD 20%, ST 4.7%]
Overhead: $144,000 ~ [Ads, Insurance, Rent, Utilities, Etc.]

Solution:

(Owner $80,000 + Banker $40,000) / (100% – 40% Tax Rate)
Is same as: $120,000 / .60 = $200,000 Net Income
$200,000 Net Income + $144,000 Overhead = $344,000 Value

For those providing Services to the marketplace, the final step is to divide Productive Units into the Customer Value. Full-time employment is 2,000 hours per year. Entrepreneurs will work much more than that — with only a percentage actually billable to Customers.

If our Start-up Enterprise team can be 86% productive (after allowance for duties of internal and external management) each Employee has an annual reservoir of 1,720 billable hours.

$344,000 Value to Customers / 1,720 Hours = $200 per Hour: Price for Value

Those providing Products, or Inventory, for sale to customers, will factor in the Direct Costs. In fact, they will consider the number of meals (if a restaurant), or suits (if a boutique), as their Productive Units and establish their Mark-up, accordingly.

Now, step apart from the crowd and consider the most important variable of all: “What is my passion — the one unique thing about me, for which the world waits?”

The rest of the story from our successful builder, quoted at the beginning of this article, “Find something you love to do and do a lot of it.” If we are able and willing to tap into that passion and grasp the foundational principles of a Business Plan, we are simply minutes away from A Better Business Plan — and, a new beginning!

kimfoard.com

A Better Way

Listening to our clients is another of those Win-Win propositions: We learn what they want and they learn how much we care.

Thinking In A Different Way

Innovation only comes from those willing to think differently.

Since all we do begins with a thought, new thoughts lead to new actions. While new thoughts are frequently accepted as entertaining, new actions give the world cause for pause!

Because these thoughts and actions are new, they are different from the old. If everyone is doing the same old thing, the innovator gets noticed. Our comprehension of anything stems from language. Until we have a word, title, or category for something, we are limited in understanding its reward, or risk.

This is a story about being different.

There are days of pleasant surprises. Yesterday was one of those for me. The gift was wrapped inside my email Inbox.

Hi Kim,

I’ve added your blog to my AccountingBlogList.com under the category of General which, after reading some of your blog, doesn’t seem quite accurate to me. Can you skim my list and tell me if you see a better spot? Or suggest if I should create a new category and, if so, what might it be called?

Thanks and congrats on a good blog!

Michelle

This is my response.

~

Michelle,

Thank you for the great honor to be included on AccountingBlogList.com!

Your comment about finding me “hard to categorize” did make me laugh! It is not the first time I’ve heard that. In fact, many tend to believe there needs to be a special classification in the neighborhood of “Off The Wall”.

Seriously, though, I have noticed that, as I tell my stories, eyes get big and soon laughter follows; usually, with a comment of, “Kim, you’re unique!”

The greatest documented compliment was offered by Ron Baker when, at the bottom of my Trailblazer article, he provided this valuable feedback: “More importantly, congratulations to you for having an open mind, looking for a better way, and contributing to the dignity of our profession by doing the right thing for your customers.”

That comment is what, I believe, defines Accounting:

  • Care about the people.
  • Listen to them.
  • Deliver value.
  • Learn.

Then, repeat the cycle.

Meeting you at the AICPA Tech+ conference was a treat for me. The excitement of being with a thousand of the sharpest minds in the country was only dampened by the frustration of not being able to meet and share with each of them.

Sitting in the session of One-on-one with Peter Sheahan and listening to the methodology of promoting ourselves to others resulted in a moment of clarity. The questions from the audience were relative to the specific steps in offering our marketing more effectively. It dawned on me that the problem is not with our sales tactics; it is with our ability to communicate. Communication is what the listener does.

We, simply, need to listen to our customers. Their desires, today, are different from what they were, yesterday. Each day is a new opportunity to deliver value to them, and the marketplace.

Listening to our clients is another of those Win-Win propositions: We learn what they want and they learn how much we care. What I know, now, after thirty years of sitting at their feet, pales in comparison to the formal college degree. Sure, our clients come to us for our qualities as a Master in the realm of accounting; yet, we (and they) benefit when we become their Students and learn even more about them and the multifaceted world we share.

That’s a very long introduction to my point: In my original Tribute email to Ron on Memorial Day, I shared a story of growth to that moment in time. Now, it is different. I was doing the best I could with what I knew, at the time. With new education and experience, I’ve discovered A Better Way.

Originally, the thought was to have a Business blog and a Personal blog. Silly me! Great accountants eat, breathe, sleep and live this chosen profession, passionately, 24/7. So, the design has been re-tooled to provide introductions from my Website blog; then, to tell stories at the SageTalk blog.

In a telephone conversation with a Client last week, I heard a new twist on that friend’s impression of my efforts. She said, “Kim, you’re a gladiator! You refuse to sit on the sidelines; you are engaged in battle to make a difference.”

Maybe it’s the Scotch-Irish ancestry and the parable that goes with it: “You know what Irish tact is, right? It’s the ability to tell a man to go to H-E-double L and have him looking forward to the trip.”

Personally, I want to believe it stems from a Teddy Roosevelt shtick quoted in this Coattails blog post:

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs and comes up short again and again, because there is no effort without error and shortcoming; but, who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end, the triumph of high achievement, and who at the worst if he fails, at least fails while daring greatly!

My purpose is to join you and Ron in your efforts to make a difference in the lives of many.

If there is a category for our type, I believe a fitting title is: A Better Way

New, Different, Better; regardless of the semantics, we intend to, truly, be Trailblazers for the benefit of all.

Thank you, again, for your kind and thoughtful recognition.

Best regards,

Kim

~

www.kimfoard.com

Price We Pay

Every business wants to be competitive in the marketplace and they know Price is one measurement of Value, subject to the perception and judgment of Customers.

The Magic FormulaBy eliminating variables, we arrive at one thing certain.

This is a story of three entrepreneurs: Eric the electrician, George the geek, and Lorna the landlord. The mystery for us to solve: Although unrelated by blood and marriage, how can they all have the same big sister, Iris, who requires their support?

Lucky for us; we have The Magic Formula as a guide to the answer. It is available by clicking the image above, or this Link. Much more than a guide, the Magic flows from an awareness of our resource choices: Time and Money.

Eric is an industrious fellow, who has a passion for service. He has completed years of formal training; has worked his way through the ranks of Apprentice, Journeyman, and Master Electrician; and, now wants to live the dream of being his own Boss. Captain of his own ship, Master of his own destiny, a Servant of the people: taking care of his very own Customers.

Since Eric has all of the tools and seed money necessary for starting his Company, there is no need for a Banker, as a partner. Based on the household budget, he knows that his family needs $40,000 per year, after taxes.

As a self-employed individual, he will pay both halves (Employer plus Employee) of Social Security and Medicare taxes, for a combined rate of 15.3% on all net profit of his business. Much trickier are Federal and State income taxes, which are calculated on a progressive scale. At the lower brackets of income and with benefit of tax credits under current law, income taxes are of minimal concern. He anticipates an effective total tax rate of 20%.

In business, Overhead is a gracious way of saying: There is a price for Eric’s dream. Technically, Overhead is the delivery system of value from provider to consumer. For the joy of having that magnetic sign on the side of his truck and walking into his shop each morning to switch on the lights, at a minimum, Eric will pay $60,000 each year.

Now we’re ready to do 4th Grade math. We will simply Add, Subtract, Multiply and Divide.

Because taxes take 20% of Eric’s total Net Profit “pie”, his after tax $40,000 must be 80% of that same pie. Thus, we Divide $40,000 by .80 to know that Eric needs $50,000 of Net Income for the year. To prove that this target is accurate, we double-check the numbers: First, we Multiply $50,000 by .20 to find that, indeed, Taxes are $10,000; then, we Subtract $10,000 from $50,000 to breathe a sigh of relief in knowing Eric has $40,000 for his family.

Before Eric even gets to Net Profit, he must first make Sales to Customers of $60,000 each year, just to cover his Overhead and “keep his lights on”. Therefore, we Add the amount of Net Income ($50,000) to Overhead ($60,000); Eric knows exactly his sales target for the year, which is also a representative value of his time to provide quality services: $110,000.

Remember that needy sister, Iris? Your suspicion is right. Her nickname is IRS, the Internal Revenue Service; the one in need of that $10,000, above!

Now, the fun really begins, because we are to the point of this story: Who pays taxes? Is it, really, Companies and Businesses, as the Governor of the State of Montana believes? What happens when Big Sister decides she “needs” twice the amount of support and will use new tactics to take it?

Let’s answer these questions by reviewing the components of The Magic Formula. Does Eric need $40,000 for his family? Yes. Is the effective tax rate under current law approximately 20% for those in Eric’s income bracket? Yes. Does every business have expenses of Overhead in delivering value to the marketplace? Yes. Since these are all accurate variables, we find ourselves with the ultimate question: From where does the money come? Answer: Customers.

Who are customers? That would be: You and Me.

We pay Eric for the value he provides to us: the value of understanding the dynamics of electricity and how to bring it into our homes for the benefit of our families. He, in turn, shares portions of this Price with Vendors, Government and his Family.

At this point in our story, some may ask the question: “Why doesn’t Eric just keep on working for his current Employer?” For those individuals who are unemployed, the answer is obvious. For the ones still employed, the answer is two-part:

1.) Eric has discovered a better way to light up the lives of Customers, which his current employer is unwilling to accept.

2.) Because of the Universal Financial Principle above, Eric’s base compensation from any company is limited to, approximately, one-third of what he produces for an employer; Taxes and Overhead take the rest.

Prices are not arbitrarily set by businesses. Every business wants to be competitive in the marketplace and they know Price is one measurement of Value, subject to the perception and judgment of Customers.

Now, what happens when big sister, Iris, wants more? Not just a little more, a lot more!  In fact, she wants to double her consumption. Let’s do the math.

Eric still needs $40,000 for his Family and he still has Overhead to pay. So, by using the structure of The Magic Formula, we can solve for the amount of Taxes and the new Price his customers will pay. $40,000 divided by .60 is $66,666 (Net Income) multiplied by .40 is $26,666 (Taxes), which leaves $40,000 for Eric and his family. If all of Eric’s business expenses (Overhead) remain at the $60,000 amount, his Customers will need to pay $126,666 for the value of his services.

From $110,000 to $126,666, we (Customers) pay $16,666, more!

Remember the rest of our cast of characters: George and Lorna? George provides computer services to Eric; and, Lorna provides the building space for his shop. What do you think George and Lorna will be doing to the price of the value they offer to the marketplace?

If they want to stay in business, they will be doing what Eric was forced to do: raise their prices, too. George and Lorna are part of the $60,000 in Overhead that Eric needs to pay each year. When that $60,000 amount increases, who pays? Yes, once again, the answer is: We the People!

This is for certain: We pay a price for everything.

www.kimfoard.com