Learn more about business with this collection
How to use storytelling to influence and persuade
How to create a compelling narrative
How to structure your story for maximum impact
It is important to make money
Money is a way of creating a measurable goal. Some goals align with giving back, but, in order for you to further any goal you have, you will need money.
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The concept of profit
The fundamental idea of profit is to determine if and why an idea is worth your time.
If you have to spend more money to gain less, you need to have a great rationale to do it.
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The time lag
Not every opportunity will bring in profit right away. An idea now can mean more profit later on. An early investment in a product can pay off massive dividends down the road.
However, you need to have a well-informed opinion on the timeline as well as how much money you might need to inve...
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Profitability
The profitability of an idea is a framework that contains two parts:
- What comes in: People, resources, funds and time.
- What goes out: How big a step you can take toward reaching your goal.
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Details are important
Entrepreneurs naturally have big dreams and the willingness to follow them. But, they often disregard the details that go along with execution.
Goals are critical, but without understanding what goes into the execution can greatly injure your company. Profitability is such a concept that n...
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Time is not money
Even if these two share some connections, time isn't money. Time is energy, money is a thing. And they each have power over our lives.
Money is infinite but time is not. You can always get a part-time job or start a side gig, but you’ll never be able to get back this m...
Be prepared to repeat yourself
Be firm. In some cases, you may have to repeat yourself more than once. If you offered any explanation with your original response, you can repeat this explanation or just say no again. Don't back yourself into a corner by trying to explain yourself further. It is your right to say no to a...
Write Your Personal Goals
... using the SMART criteria:
- Specific: make your goals clear and well-defined.
- Measurable: avoid any abstract notions – you should be able to tick “done” any goal you set as well as any step it involves
- Achievable: Make sure you have enough time ...
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