Like many kids, I once tried selling lemonade in my neighborhood on a hot, sticky, New Jersey summer day. I was excited when customer after customer handed me a dime in return for a short Dixie Cup of overly-sweetened drink mix. When the lemonade ran out, I was rich! What to buy. . . what to buy. . .
Then my mother informed me that businesses have to pay expenses before claiming the profits. She tallied up the cost of the cups and napkins, sugar and lemonade mix and presented me with the bill. Whoops. Guess I should have charged more per cup. Rather than revise my business plan, I filed for bankruptcy and closed up shop. Thankfully, the bank of mom agreed on a greatly reduced settlement.