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Bishop Bernard Jordan

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Our eleventh principle is sacrifice a nickel for a dollar. The strategy you want to follow is to sacrifice a small loss to prevent a large loss. Why: preserving your resources safeguards your capacity to operate. If you’ve ever read any histories of warfare, you’re probably familiar with the less advisable war of attrition: in a war of attrition, the point of the game is to see who can outlast whom. Some of the most devastating wars in history have involved warfare by attrition. Cantrell offers an example from America’s Civil War: the Union generals Ulysses S. Grant and William T. Sherman defeated the Confederacy through bloody, all-out total war, including sieges, destruction of infrastructure, and winning battles by weight of numbers (12). This is about the worst way possible to wage warfare! Even if you win, your victory is hollow, because you will have lost so much and damaged your enemy’s country (or, in the context of business, the market) to get there.