Thursday, August 28, 2003

What's the Difference between Wealth & Money?

Don't get preoccupied with making money. Instead, pay attention to your people. Generate wealth and the money will flow naturally.

Wealth and capital formation generate future revenue streams, or what we call money or revenue. Today's profit-and-loss statements derive from yesterday's wealth creation — or lack of it.

GE had a great saying in the 1950s: 'Progress is our most important product.' It sounds like they really understood how people and process creates wealth. Maybe that's why 50 years later, they are still at the top.

Read more about "Prepare for the Future - Generate Wealth" by Harry T. Roman at todaysengineer.org

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