†††††††††† N.R. Gordon & Company, Inc.

Liquidity Matterstm

N.R. Gordon & Company offers a broad range of value-added, peer-to-peer, financial advisory and strategy consulting services. Representing not only the client, but the client's point of view, N.R. Gordon & Company differentiates itself from other advisors.

Quips and Quotes

Measured language more often wins the day
The battles are not the war, and vice versa.
You must plan to win. (Z. Ziglar)
A goal is a dream with a deadline (Napoleon Hill)
Having the will to win is not enough. Everyone has that. What matters is having the will to prepare to win. (Bobby Knight)
A good plan violently executed now is better than a perfect plan executed next week. (George S. Patton)
Simplicity is the ultimate sophistication. (Leonardo DaVinci)
Luck is the residue of design. (Branch Rickey)
Identify the problem before you go about solving it.
You cannot delegate planning to a planner. (G. Steiner)
Planning is everything . . . plans are nothing. (D.D. Eisenhower)
If itís counter-intuitive, itís probably because you donít have enough experience to know any better.
The best strategies are overturned by great opportunities.
When you get to the fork in the road, take it! (Berra)

Donít forget to fly the plane.(Known as ďthe first rule of aviation,Ē it should be the first rule of business.)
When you are up to your ass in alligators, it is difficult to remember your original mission was to drain the swamp. (Note: You have no idea how often this quip is searched!)
The big difference between entrepreneurial starters, vs. entrepreneurial finishers is the ability of the latter to decide what not to do. (Victor Cheng)
By losing your goal, you have lost your way (Nietzsche)
Management by objectives works Ė if you know the objectives.(Peter Drucker)

Context matters.
A hot dog just doesnít taste the same without a ball game in front of it. (Charles Brown)

Money is good.More money is better.
A nickel is a lot of money when you donít have one. (Ben Roseís grandmother)
Cash flow never lies.
When they say itís not about the money, itís about the money.
ďNet incomeĒ is an accounting fiction.

The essence of business is risk.
The bigger the engine, the bigger the potential for you to do something foolish with it. (Peter Nielsen)
I always say Iíll take a smaller piece of something big, than a larger piece of something small. (James J. Flanagan III)
The art of the sailor is to leave nothing to chance. (Annie Van De Wiele)
No one thing ever sunk a boat. Usually itís what you do trying to fix the first thing that causes the real problem.

Generalizations donít mean a damn, including this one! (Oliver Wendell Holmes)
Conclusions can be inconclusive.

Try not.Do, or do not.There is no try. (Yoda)
Do what you can, with what you have, where you are. (T. Roosevelt)
When youíre at the end of your rope, tie a knot and hang on!
If you find yourself in a hole, stop digging. (Will Rogers)
100% of the shots not taken don't go in. (Gretzsky).
Action overcomes fear.
The more I practice, the luckier I get. (Attributed to a number of professional golfers, including Arnold Palmer, Gary Player and Lee Trevino)

Success is going from failure to failure without a loss of enthusiasm. (Churchill)

Failure defeats losers, failure inspires winners. (Robert T. Kiyosaki)
Success is where preparation and opportunity meet. (Bobby Unser)
We will either find a way or make one. (Hannibal)

Assemble your advisors early.
Many receive advice, only the wise profit from it. (Harper Lee)

A person is born with a liking for profit. (Xun Zi)
It's what you do that determines how you feel.
We are what we repeatedly do. (Aristotle)

Itís all about communication!
All writing depends on the generosity of the reader. (Alberto Manguel)
An objectís worth ultimately has to do with telling stories.(Boston Phoenix, quoting Josh Glenn)
If I was down to my last dollar, Iíd spend it on public relations.(Bill Gates)
#1 small business borrower complaint: ďMy bank doesnít understand my business.Ē#1 small business banker complaint: ďThey donít tell us whatís going on.Ē
Your banker doesn't understand your competitor's business, either.

Nothing is without precedent. (Robert Geurdon)
There is no substitute for experience.
The past will teach you the future.
Reading is one thing; doing is something else. (Winthrop Fisher)
Every champion has a coach.
You canít build a reputation on what youíre going to do. (Henry Ford)

What you need is not determined by what you can afford.
You can't always get what you want. (Rolling Stones)
Greed kills.
Terms are more important than price.
Life is a negotiation.
You cannot reason with the unreasonable.

The pendulum stops in the middle when the clock breaks.

Acquisitions often succeed only in increasing management compensation.
Bonuses are usually earned based not on the efforts of the employee but on the actions of the marketplace.

Business is a combination of war and sport. (Andre Maurois)
How you play the game pretty much determines whether you win or lose.
How you fight is how you are.
All relationships are adversarial.

If you don't know where you are going, you will never get there.
A roadmap isnít any good if you donít know where you are. (Brian Day-Lewis)
The difference between fantasy and vision is execution.
Nobody believes simulations other than the guy who did it. (Stefan Siegel)
The best way to predict the future is to invent it.
The quickest distance between two points is rarely a straight line.

A compass never points exactly north.

You cannot tell which way the train went by looking at the track.
The easy way is always mined.

Trust triggers transactions.
Bad people sell you bad companies. (Richard Reese, Executive Chairman of the Board, Iron Mountain)
A person who is nice to you but rude to the waiter is not a nice person.

Illegitimi non carborundum.

Never give up. Never give up. Never give up. (attributed to Winston Churchill in various forms)
Never bet against the master.
Never interrupt your enemy when he is making a mistake. (Napoleon Bonaparte)
Never make the same mistake twice.
Never sit with someone you know.
Never negotiate with your future boss.
Never invest in anything that eats.

If you're riding ahead of the herd, take a look back every now and then to make sure it's still there. (Will Rogers)
The further backward you can look, the farther forward you can see. (Churchill)
Don't look back - something might be gaining on you. (Satchel Paige)
Never look back unless you are planning to go that way. (Thoreau)
Progress is never made by going backwards.

You can't improve what you can't measure.
Not everything important can be measured, and not everything that can be measured is important. (Einstein)
To measure is to know.(Lord Kelvin)
The only true wisdom is in knowing you know nothing. (Socrates)
Our freedom lies in the questions we ask Ė and how we pursue them Ė but not in the answers awaiting us. (Steven Strogatz)
You cannot sustain ďcute.Ē
You cannot control the wind.
Sailing is about working with the wind and not against it.

If youíre not fast, youíre food.(Timberland)
What you did yesterday won't work tomorrow.
Imitation is suicide.(Emerson)
Satisfaction is death.
Classics are classics for a reason.
Do not expect great returns doing what has already been done.
Do tomorrow what everyone else will be doing the day after tomorrow.
The time to repair the roof is when the sun is shining. (John F. Kennedy)
Why procrastinate today when you can procrastinate tomorrow?
Why procrastinate tomorrow when you can procrastinate today?
Do what you gotta, so you can do what you wanna.(Charles Joseph Savage, Jr.)

A spider never gets caught in its own web.

When applying for a job at UPS, don't send your resume via FedEx.

Liquidity matters.
Investors need a way out.
Milestones matter.
You must plan for an exit.

A grain of sand isnít a beach, but it is the beginning of a beach.
Big companies are small companies that succeeded. (Robert Townsend)
When a team outgrows individual performance and learns team confidence, excellence becomes a reality. (Joseph Paterno)
Most startups fail.
If you want to succeed, spend time talking to those who have failed.
If at first the idea is not absurd, then there is no hope for it. (Einstein)
Long-term is just a series of short terms strung together.
Long-term sales growth = current sales + market growth + change in market share.Itís no more complicated that that.

Demand commitment.
Trust the process.
The process is not the purpose.
You cannot make it rain by washing your car.

Investor relations is not public relations.

You cannot revolutionize anything quietly.

If you donít have a competitive advantage, donít compete (Jack Welch)
If the enemy is within range, so are you.
Market share is a zero sum game.
Is your competitor out to lunch or eating your lunch?
Wal-Mart will not expand to accommodate your invention.
Your competitor has a soon-to-be-released secret product, also.

The secret of managing is to keep the guys who hate you away from the guys who are undecided. (Casey Stengel)

There are no born leaders. Convert the ordinary person to your right (or, depending on your political views, to your left).
Hierarchy is a mutual contract between leaders and subordinates.
Leadership is not about titles, positions or flowcharts.(John Maxwell)
Balance what you need done with what your people want to do.(Dharmesh Shah)
If you put fences around people, you get sheep.
When your employees (i.e., your subjects) disagree with you (i.e., you have no clothes on), what do they tell you?

All companies claim to be customer focused.
The five most effective words in business, love and friendship are ďwhat can I do for you?Ē
The customer is almost always wrong. (Success is convincing the customer that heís wrong without losing him.)
If I had asked people what they wanted, they would have said, ďa faster horse.Ē(attributed to Henry Ford)

Nothing costs nothing; everything costs something! (Even nothing costs something!)
The cost of paper clips doesnít matter unless you manufacture paper clips.
Most of us get by just by saving other peopleís paper clips.

Lowering your cost of capital can be a better choice than increasing earnings.

Leasing almost never makes sense.

You can do up to four things on the corners of your desk.(Warning: Do not infer that you can do up to eight things on the corners of your octagonal desk!)

There's an 80/20 rule for everything.(Or perhaps thereís an 80/20 rule for 80% of everything.)
20% of your time should solve 80% of the problem.
The key forces affecting your business can be described in twenty-five words or less.

Who will reimburse you for your inefficiencies?
Why does a pizza come faster than the police?

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