Price is what you pay for a product or service. Total cost includes all expenses associated with the acquisition, storage, use, maintenance, and disposal of purchased products and services.
Category Archive: Business
4 Short Stories About Business And Life
We’re often keen on hiding our business idea, but forget that ideas are worthless until they are acted upon. An idea is simply a multiplier to your execution.
Imagine if we could invest in artists and influencers like we invest in companies through the stock market. Soon, fans will have the opportunity to be rewarded for their speculation and support.
No matter the situation, people always operate on incentives. In business settings, you want to understand what everyone’s incentives are to be fool-proof.
When you’re driven, laziness is no longer a consideration. You no longer depend on the ephemeral whims of motivation. You’re now compelled by something as powerful and primal as the desire to procreate, seek sustenance, and survive. For boundless energy and enthusiasm, focus on building your drive, but also understand the role motivation plays in your jubilation.
Richard Mille was able to disrupt the stubborn luxury watch industry through ignorant thinking. A knowledgeable person generally thinks inside the box. When you’re ignorant, you don’t even know the box is there. This is where product differentiation and innovative systems are born: on the edge of absurdity.
Trust is an ongoing exchange between people. It can be earned, and it can be lost, but it can also be regained again. Trust is is the glue that holds society together and is vital to all economic activity.
It can be difficult to imagine your startup making it big, but Amazon started selling books in a garage. Nike began with 26-year-old Phil Knight tinkering with and selling sports shoes out of his truck. Now, here is the story of how UPS started with just one bicycle and $100 and how all large businesses start from zero.
The ultimate goal for a business is to earn a profit, and because of this, innovation can sometimes get stifled.
Economic Motivation 