A 100-watt lightbulb can brighten up a living room while a 100-watt laser can cut through solid steel. The only difference is focus. Trying to be the best at everything is the fastest way to fail at everything. We want to be everything to everyone because we are scared. If we don't do everything then we are going to miss out on some great opportunity. You don't need to compete with…
Customers are only willing to pay based on the value they get from your product. There are two primary sources of value. One is the raw material and the other is the value you add. Now your selling price can't exceed the value that clients receive. That creates this simple formula. The raw material doesn't mean something you dig up out of the ground like iron ore. It's the cost of…
You may feel as though your life is not under your control or you moving towards a destiny that someone else has determined. You May want to follow your passion or you have a solution for a problem that no-one else has seen. It may not even matter that much if you make any money while following your dream. You may feel as though your life is a story composed by someone else. For some, structure is welcomed and for others, it’s torture.
Taking more risk offers the possibility of more reward. This is as true in investments as it is in life. It's also true when it comes to business ideas. Well, most of the time at least. The more every day or normal your product is the lower your chance of failure and the lower your chance of exponential growth. The more unique or dare I say crazy your idea is, the…
There are no certain paths in life but there are certainly signs pointing you in different directions. One of those directions may be the path to starting your own business. Let's start by looking at some of the signs that you could be a successful entrepreneur. 1. You Have a Vision You can see a different future. A grander one. A future where you solve a problem that society has, build…
Nothing lasts forever, including recessions, depressions and other crises. To maximise your return you need to change your thinking from how much I can make right now to how I can make the most over the next 5 years. That may even mean starting in a recession. You need to plan long term and that means, for after the crash. Yes, some money can be made in some way during every…
