I doubt it is a lie. He could be financially deluded. He could be financially ignorant, as are many small-business people.   As are many tradeswomen who have perfected their work skills but often have no business savy at all. I read some Dun and Bradstreet quote that mentioned $500K gross. I don't know. I don't say that people are lying unless I know. I don't say I know what they are thinking unless I know. mg