A principal is an owner. An agent is an employee.
The principal's incentives differ from the agent's incentives. The business owner wants what's best for the business and what will make the business successful. The agent wants what will look good to the principal or make them personally the most money.
If you're an employee, your most important task is to think like a principal. Train yourself to think like a principal. Ask "What would the founder do?" If you think like a principal, it's a matter of time until you become that.
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Find out what is unique to you that you're good at and apply leverage. Ask if what you do is authentic to you. And then, ask if you are productising it. Are you scaling it with labour or capital or code or media?
So, making money is not a skill. It is who you are, done a million tim...
Anybody who wants to be entrepreneurial and wants to reliably improve their ability to create wealth is patient and looking at it from a long-term view.
Pay attention to who is getting leverage off of the work you're doing. Look who's above you and above th...
Everyone has a personal moral code. When you are in business long enough, you'll realise that much of it is about trust. You don't want to reevaluate every discussion or continually look over your shoulder.
When you are ethical, you'll attract other long-t...
Envy can motivate you to find the right thing. If you're doing work that you don't like, envy can motivate you to find something better.
But it can also eat you if you let it follow you your entire life.
You generally will do better in a smaller organisation as you will have more accountability and your work will be more visible. You're likely to try different things, which can help you discover what you're uniquely good at.
The long-term goal is to work for ourselves. Peo...
If there was a quick way to get rich, it's already been exploited. If someone is selling you a get rich quick schemes such as crypto or an online business or seminar, that's often their scheme to get rich by making money off you.
If anyone is giving advice on how to...
When you become wealthy, you'll realise that you were not really looking for it in the first place. You're still the same person. If you're happy, you're happy. If you're unhappy, you will still be unhappy.
Most importantly, you can't buy a fit body, a calm mind, and a house filled with lo...
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Julius Caesar famously said, “If you want it done, then go. And if not, then send.” What he meant was, if you want it done right, then you have to go yourself and do it. When you are the principal, then you are the owner—you care, and you will do a great job. When you ar...
It is normal for an organization to have goals related to revenue, profit and increasing the bottom line. But most organizations forget that the engine of achieving such goals is the people working for the company, and if the focus is on how fast the employees are growing persona...
Stubbornness is an obstacle to changing people's opinions. Stubborn people will outright reject forceful arguments. They think outcomes can be subject to their will.
Instead of giving answers or forceful arguments, ask questions. This way, you're not telli...
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