FOREWORDWinning a One-Horse Race
WHEN I WAS a sophomore in college, my friend and I bought a standard bred racehorse. It was a claiming race, and we had the money, so we decided to take a risk and have some fun.
It was my first real business venture. The horse won its second race, and I got to go down to the winner’s circle for a photo op. What a feeling. What a rush. What a great business venture.
Fast-forward six months, and I learned another lesson: Horses eat lots of hay. And if the costs of food, care, and stable rental are greater than your winnings, you’re in a losing situation.
I wasn’t just a horse owner, I was in the business of making money. Making hay to buy hay.
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