The Concept of Backward Thinking When making a decision about allocating capital to any venture, backward thinking is a powerful guiding tool for making smart decisions. To simplify, it is working through a deal, project, problem, or goal backward. It is easy to get caught up in how sexy an idea looks on the outside, …
“If you were to distil the secret of sound investment into three words”, we venture the motto, MARGIN OF SAFETY.” – Benjamin Graham The Margin of Safety This concept is widely used by the great Benjamin Graham. He used it mainly in an investing capacity. However, this is a POWERFUL principle that can be applied …
The Margin of Safety Formula: The Moat Around Your Castle Continue reading…
The question isn’t who is going to LET me; it’s who is going to STOP me. – Ayn Rand What is Your Why? The Below Filters Will Help You to Determine Why You Want to Start a Business in the First Place It may be challenging to process, but let’s start by what you would …
DEBT REDUCTION PLAN | PRE DEFAULT What do I mean be Pre-Default? This is the stage where you have not missed a payment yet; you have an income to pay your current debts, but it is too much, and you need to reduce these payments to get back a normal life and go back to …
WHY A BUDGET IS SO IMPORTANT? I know, I know – a budget sounds scary. However, it’s MUCH less scary once it’s complete and in front of you, as you’ll then know exactly what you’re dealing with. This is the only way to identify what you can and can’t do in terms of cutting expenses, …
Understanding How to Improve Your Credit? Credit is a confusing topic, but it doesn’t have to be. To simplify the concept, the HIGHER your credit score is the LESS you will pay in fees whether you are buying a house, a car, taking personal loans, business loans, or getting credit cards. The LOWER your credit …
What is a Credit Score? A Simple Way to Understand Credit Continue reading…
Ayn Rand said, “You can avoid reality, but you cannot avoid the consequences of avoiding reality.” Not dealing with reality is the reason why most entrepreneurs and deals do not get funded or quickly go south. The deviation from realty starts early, with proforma numbers that are overly optimistic and speculative: the expenses are too low, the revenue is …
Discipline in Business: Deal With Reality, Don’t Chase Unicorns Continue reading…
Warren Buffet said, “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” Put Yourself in the Path of Demand It is much more difficult to create demand than serve it. Trying to create demand is by far the riskiest, time-consuming, and expensive route you can …
Why Create Market Demand? Serve it Instead Continue reading…
The challenge with goal setting is making goals that YOU want and not what SOMEBODY else wants. Albert Einstein said, “If you want to live a happy life, tie it to a goal, not to people or things.” Set goals that “cause” what you want to accomplish Notice how I said what YOU want to …
The danger is in not knowing the edge of your competence, followed by not working on filling in the knowledge gaps. Confucius said: “To know that we know what we know, and that we do not know, what we do not know; that is true knowledge.” So why do small businesses fail? Why do projects …
Why Do Small Businesses Fail? The Art of Knowing What You Don’t Know Continue reading…
