Walter Pardo, CEO & Certified Wealth Strategist at WFP Tax Partners, follows up his previous “Profit First” video, with an introduction to the concept of Parkinson’s Law: 

Author and Historian C. Northcote Parkinson theorized that our demand for a resource increases to meet the supply of it. 

For example, when we’re given two weeks to do a project, it takes two weeks. But if we’re given eight weeks to do the same project, it would take eight weeks. Another example is that when given $1,000 to complete your work, you get it done for $1,000. But if you’re given $100,000 to complete the same work, it magically takes $100,000. 

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So profit first makes Parkinson’s Law an asset. And by taking profits first, the money available for expenses lessens, and we’re forced to get the same things done for less money. 

To learn more about WFP Tax Partners and the services they offer, visit them online at www.wfp-taxes.com.