“I don’t have time” is a euphemism for “I have other priorities.”
CEOs have ridiculous pay and get a lot of praise. Most of us know that they run the company, but do we actually understand what they do and what value they bring?
Consumers may not use money directly when they receive something for free, but they pay indirectly in ways that benefit the company.
It depends how you participate. Speculation is zero-sum, but investing is not. The difference is that a person speculating attempts to profit by outsmarting others while investors own parts of profitable companies long-term.
If you earned a salary of $2 million every week from the day Jesus was born until today, you would almost have as much money as Jeff Bezos.
“If I only had an hour to chop down a tree, I would spend the first 45 minutes sharpening my axe.” Abraham Lincoln
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.
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.
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.
The majority of the time when a friend or family member wants to support your business, they ask for a discount or they ask for a free sample of your product or service. When you’re starting out, you absolutely need positive cash flow for the business, not only to survive but to grow to a more sustainable setting.