Re: Freshwater Instruments close down
Originally Posted by
michaelpthompson
It's hard to say what's really going on without more information than has been presented here. Many business fail financially despite the best intentions. He may sincerely have been trying to make good on those orders, but when you're in a hole, it can be difficult to find the resources to deliver on your promises. But you can't tell your customers that, or they may deprive you of the very resources you need to deliver their orders. Kind of like a run on the bank. It may be triggered by actual financial instability, or just as easily by rumours of that same instability.
Second that - a good luthier does not neccessarily make a good businessman, and that is what you need to be to know the exact moment to pull out; it is a skill that involves seeing the future and is therefore hard to find. Probably, Mr. Freshwater is the one to feel worst about it, there's no reason to suspect fraud. Some poor businessmen become better businessmen by experience - after your 4th or 5th bankrupcy you get the knack - but customers are not inclined to bear with that. Giving money in advance is always a risky thing, and business risks are not abstract accidents happening to other people: they mean you, yes, you are bound to lose money every now and then. You should be aware of that and only do it if you have no other, safer use for the money.
the world is better off without bad ideas, good ideas are better off without the world
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