It ain't what it used to be

A couple of years ago I overhead a joke in a parking lot. One woman was busy loading her groceries into her car when her friend ran into her.

Jokingly she said to her friend:
"I believe I've grown quite strong over the years!"
Her friend replied: "How so?" And she said:
"Ten years ago I needed a shopping cart to manuever my groceries. Nowadays, I just carry them under my arm."

Money ain't what it used to be.

  To understand what role money plays in our lives today, we need to go back. Way back!

Before there was money, people used to barter. Comparing Apples and Pears wasn't what it was about. Before money, there wasn't really a measurement of worth to compare items and services. Instead, they went by trading according to what they figured was 'good'.
This was primarily determined by supply and demand.

Definition: Supply and Demand
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity.

Although this is all good and true, it is important to recognize the fact that global trade didn't play such a big role. Supply and Demand was local - and in some cases still is today.

Today, this economic model plays an integral part determining the feasability of ventures.

Definition: Feasibility
feasible - capable of being done with means at hand and circumstances as they are

Let's face the fact; if it ain't feasible - it's not going to work. Being an entrepreneur and identifying an opportunity is needed to be succesful - more than often this opportunity presents itself when locally there is a low supply and a high demand.

Be it selling make-up or mowing lawns, opportunity is where the money lies!

Stay tuned for more tips & lessons on how to make money!