Every person wants to grow their business. But few people reach the financial level of Warren Buffett, Steve Jobs, or Bill Gates financially. Thankfully, the experts have published many of their tips for reaching the top to share with the rest of us. We have included them here with commentary. Franchise consulting is just one area where sound financial advice can make all the difference.
Warren Buffett once said that as an investor it is wise to be “Fearful when others are greedy and greedy when others are fearful.” This statement is somewhat of a contrarian view on stock markets and relates directly to the price of an asset: when others are greedy, prices typically boil over, and one should be cautious of overpaying for an asset which subsequently leads to meager returns. When others are fearful, it may present a good value buying opportunity.
Is there something that your friends do regularly? Think of a new way to do it. Pursue things that seem odd, funny, or strange to most. Brave through the ridicule that you inspire. Steve Jobs identifies the role of leadership is often associated with innovation.
We have included this here in a separate category because it is so essential. Although many moan at the idea of giving up more of their precious resources, giving is absolutely necessary to receiving profit. Make a list of what you have to give right now. It could be time, ears, money, goods, transportation etc. Give it sacrificially to those who want it, and watch your profits grow.
Money is Not Wealth
Although we often speak of the two as synonymous, money is not wealth. Money is a tool that we use to measure wealth. Having a stack of paper is worthless when the next financial crash comes. Having a large farm with grapevines, or a bustling factory worth the value of the paper is far more helpful. Identify what you have that is truly wealth. Wealth is capital, something you use to make something else. Examples include time, land, transportation, people, skills, certifications, citizenship, relationships, knowledge, etc. The more wealth you have, the more your money will grow to measure it.
Hopefully, this short checklist has given you an idea of how to excel as a business person. Franchise opportunities are out there for those who think carefully through good business principles.