Time is your most valuable asset and there are four areas that you can spend your time in life. The first quadrant is important and urgent. A crisis. An emergency. You must do it now. The second is important but not urgent. Prevention. Planning. Forward thinking about how to improve. Not important but urgent. Distractions. […]Read More ...
The 80/20 principle is my favorite and the most important principle to understand in life and in entrepreneurship. Its says that 80% of your results come from 20% of your efforts. 80% of your stress comes from 20% of your environment. 80% of your joy comes from 20% of your activities. You name the result. […]Read More ...
The way people treat their money is one of the most important traits in entrepreneurship. Frugality wins because every dollar you save personally and invest in the company the right way becomes three dollars a few years later. Having cash reserves because you live in a responsible way allows the company to survive when the […]Read More ...
There are only three levels of wealth in this world and beyond that money doesn’t matter. The first is being able to feed your family, pay your mortgage and not stress about going into debt. The second is going to a restaurant and not worrying about what restaurant it is or the prices prices and […]Read More ...
These are all businesses and markets that I love. The competition is weak. The market is growing. The costs and risks are low. The odds are good. You can analyze the market and make accurate decisions on where there is opportunity to thrive. You can win. Start small. Start low skilled and low risk if […]
This is an analytical approach to identifying and exploring new business opportunities. This is designed around service based businesses but the concepts can be applied to any business. In order to compete you need to have a competitive advantage in one of three areas: speed, price or quality. The goal here is to look for […]
In today’s episode, Nick talks about a self-storage facility that he and his partner bought in July of 2019. He goes over the numbers of buying it, operating it, and income from units being rented out, as well as expenses. His goal is to show you just how profitable a self-storage facility is. This property […]
Notes from Podcast Episode 4. These are the essential tools you can use to start your business cheaply and have all the tools you need to operate right off the bat. Step 1: Generate your idea Consider using this guide as a resource. You can also take a look at this list of businesses I […]
Prefer a more positive outlook? Check out the businesses I love. I don’t like businesses that have a lot of passionate people involved. Businesses that are fun and are a lot of people’s hobbies. Passionate people think with their hearts instead of analyzing the markets. Passionate people make poor decisions. Passionate people start companies because […]
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