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Add You - Understand Your Assets and Liabilities
It means businesses are shifting their boundaries from domestic to international ones. The rapid growth of business globalization rises some questions to research. One of them is why business is becoming global? The main and important causes for the recent business globalization are: increase in global competition, rapid increase and expansion o
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an a
One excellent way to use advertising business gifts is as loyalty reward for your existing customers. That’s right – your existing customers. Up to 85% of your business does not come from new customers, but most businesses put the bulk of their advertising budget into wooing new customers. The problem with this is that your existing customers ge
Let me give you an example. It's a fact that it's the poorest people in this world who work the hardest. Try working in a factory for 7 days a week at just a few cents an hour and you'll soon realise this.
Take a look at any rich person you know or know of. How hard do they really work? Probably not very hard. If they do work hard it's often because they enjoy it.
The fundamental difference between the rich and the poor is that the poor work hard for very little money but the rich have money work for them.
The rich have assets which earn them more money while the poor have liabilities which cost them money.
To be a successful entrepreneur you must learn to obtain assets and build systems which will earn money for you, not buy liabilities which will cost you money in the long term.
An example I often use is the following: two men buy an expensive car from the same garage at the same price.
The first man drives it around for a few years and after paying out thousands of dollars in fuel, insurance and tax he finally sells it on (as he can no longer afford to run it) at a loss of another 20 thousand dollars. I personally know people who do this continuously.
The second man hires out the car to people for special occasions such as weddings and parties. After having his customers pay for the fuel, insurance and tax for a few years he pockets the profits he's made and trades in the car for a bigger one. Any expenses he incurs are tax deductible. He then repeats the process with his bigger, smarter car and in a few years time is able to buy two cars, then three...
Ten years down the line the first man has made a substantial loss and is back riding his push bike to work. The second man now has a fleet of posh cars which he hires out for a living and has quit his day job as a result.
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an as
A person who has a lazy, slow-moving gait tends to look less commanding than someone who walks with a good posture that exudes confidence. Likewise, the way the company is organised can help it position for future growth.The world has changed dramatically. These days, being internationally competitive is the name of the game. With t
The fundamental difference between the rich and the poor is that the poor work hard for very little money but the rich have money work for them.
The rich have assets which earn them more money while the poor have liabilities which cost them money.
To be a successful entrepreneur you must learn to obtain assets and build systems which will earn money for you, not buy liabilities which will cost you money in the long term.
An example I often use is the following: two men buy an expensive car from the same garage at the same price.
The first man drives it around for a few years and after paying out thousands of dollars in fuel, insurance and tax he finally sells it on (as he can no longer afford to run it) at a loss of another 20 thousand dollars. I personally know people who do this continuously.
The second man hires out the car to people for special occasions such as weddings and parties. After having his customers pay for the fuel, insurance and tax for a few years he pockets the profits he's made and trades in the car for a bigger one. Any expenses he incurs are tax deductible. He then repeats the process with his bigger, smarter car and in a few years time is able to buy two cars, then three...
Ten years down the line the first man has made a substantial loss and is back riding his push bike to work. The second man now has a fleet of posh cars which he hires out for a living and has quit his day job as a result.
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an a
In the past couple of years, an increasing number of State Agencies and financial firms have been re-addressing cost cutting solutions by sending customer service jobs to rural areas of the United States, where labor costs can be dramatically lower and where skilled labor forces are available.Our study shows that there is an attempt to br
An example I often use is the following: two men buy an expensive car from the same garage at the same price.
The first man drives it around for a few years and after paying out thousands of dollars in fuel, insurance and tax he finally sells it on (as he can no longer afford to run it) at a loss of another 20 thousand dollars. I personally know people who do this continuously.
The second man hires out the car to people for special occasions such as weddings and parties. After having his customers pay for the fuel, insurance and tax for a few years he pockets the profits he's made and trades in the car for a bigger one. Any expenses he incurs are tax deductible. He then repeats the process with his bigger, smarter car and in a few years time is able to buy two cars, then three...
Ten years down the line the first man has made a substantial loss and is back riding his push bike to work. The second man now has a fleet of posh cars which he hires out for a living and has quit his day job as a result.
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an a
An extranet is a private network within which document sharing can take place by specific groups of users outside the organization through a network administrator. An organization may allow authorized customers and partner’s access to the system after verifying the usernames and passwords.The extranet: Enhanced document sharing and collab
Ten years down the line the first man has made a substantial loss and is back riding his push bike to work. The second man now has a fleet of posh cars which he hires out for a living and has quit his day job as a result.
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an a
Whether you are graduating from college, returning to the work force, or contemplating a career change, career fairs have lots to offer a job seeker. Following a few basic guidelines can help you make the most of the experience and maximize some great networking opportunities.Dress as you would for a job interview. The interactions you ha
So, if these two men both started off buying the same car at the same price, what went wrong for the first man and what went right for the second man?
It's simple, the first man turned his car into a liability as many of us do. The second man immediately turned it into an asset.
Next time you buy anything of any value just remember this example and establish whether you're really buying an asset or a liability. Try to be the second man wherever possible and you'll be one large step ahead of your friends and associates who haven't been fortunate enough to read this article.
For more entrepreneurial tips and advice please visit: http://www.entrepreneur-mindset.com
Best Regards,
Jason King BSc MBCS CITP
http://www.entrepreneur-mindset.com
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