THURSDAY, 18 FEBRUARY 2010
The more other people have an interest in your success, the higher the probability that you will be successful.
Also, the more other people will be affected by your failure, the more they will do to try and help avoid it.
WEDNESDAY, 24 FEBRUARY 2010
I know of a guy who owns an after-school language centre in the city – like the centres where we teach English. All indications are that he doesn’t have a clue about marketing. Still, he makes good money with his business.
Why? Because the system on which his business operates was developed by other people, and he is basically running it according to their formula.
This means he can remove himself to an extent from the business and still make money.
This means you can make money despite your weaknesses if you have a good system in place and you are disciplined enough to follow the system. Even more so if this system involves skilled people – who each do their part in exchange for fair compensation.
SATURDAY, 27 FEBRUARY 2010
If your parents did not make available to you a piece of land where you can grow vegetables and perhaps keep a few chickens, you need capital which you can exchange for what you need to stay alive.
There are two ways to legally obtain capital (except as part of an inheritance): you either sell something, or you speculate on the value of something.
If you sell, it is imperative that what you sell has value for at least one person.
If you speculate on value, you must have the ability to determine actual value – an ability good enough to get back on the long run what you have risked plus a few percent profit.
If you do not master at least one of the two ways to legally obtain capital, you will have nothing to exchange for what you need to survive. (If you resort to criminal activities to get what you need, the authorities will be compelled to arrest you and deprive you of your liberty and possibly even your life.)
If another person or institution takes pity on you, you can still survive; if not, you will die.