The Sensible Business Man

Conducting business can be strenuous at times; due to lack of wisdom.

Wisdom is knowing what to do next; Skill is knowing how to do it; and Virtue is doing it. ~ David Starr Jordan

Today, I am introducing a new concept:
Proportional Entrepreneurial Sensibility

Definition: Fallibility

1. Capable of making an error: Humans are only fallible.

2. Tending or likely to be erroneous: fallible hypotheses.

 

Ever considered that doing is associated with your hands, feeling mostly with your fingers,  seeing with your eyes, hearing with your ears, smelling with your nose and tasting with your tongue?

Consider now the proportions:

• 8 fingers (10 digits, according to: Wikipedia: Thumb)
• 2 hands
• 2 eyes
• 2 ears
• 1 nose (2 nostrils)
• 1 tongue

 So, where am I going with this?

Concept: Feelers
In terms of business, using your feelers is depicted as searching for opportunities and for testing practicality and ideas; something that should be done on a regular basis and should be the first step in testing feasibility. 

 Example: You are starting your new venture and decided you are going to focus on selling gardening tools.

You come across a very fancy leaf blower - instead of spending your entire budget (gambling) on this leaf blower, you should decide if it is doable with your budget - and only buy 1 or two - after considering all the alternatives available. (Remember to always buy bulk to save money!) 

If it ends up being a big seller, you have hooked your customers - if not, at least you didn't spend your entire budget on it, and it will still sell even if you have to sell it at cost price. Alternatively, you could start your own gardening business, catering for the Do It Yourself Crowd and Convenience Crowd.

In order for you to correctly use your feelers, you need to apply your senses in order:

1. Look (x2)
2. Listen (x2)
3. Feel (x8)
4. Do (x2)
5. Speak (x1)
6. Smell (x2)

Using your business senses proportionally can reduce the chances of making mistakes and wasting your time and money. Be smart, use your Feelers.
 
 I would love to hear your feedback if this series has benefitted you in any way! Stay tuned for more tips & lessons on how to make money!

Less than Adequate - Part 1

Poverty - The state of living on less than $2 a day, according to the World Bank.

Another definition of Poor is

Less Than Adequate

 Considering adequate is a relative term. Is being poor the way the world sees us or the way we see ourselves?


Today on It's all about the Money, we are going to  look at defeating poverty.

For Greed, all nature is too little. ~ Seneca

A stingy man is eager to get rich and is unaware that poverty awaits him. ~ Proverbs 28:22

 Unless it is obvious to everyone - to make an adequate amount of money, requires money. Also, money ain't what it used to be, in other words - it is always losing value.

Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one. ~ Benjamin Franklin

 The cure for this insanity is contentment. The greedy man lives in the future and constantly looks back at what he does not have. Clearly this is madness! Greed causes blindness to all the feasible opportunities that can make you money!

Being content provides an adequate view on what is going on now and opportunities than can shape your future.

Laziness travels so slowly poverty soon overtakes him. ~ Benjamin Franklin

Lazy hands make a man poor, but diligent hands bring wealth. ~ Proverbs 10:4

So true it's almost a cliche - a man who does nothing, has nothing. Another way to look at it, if you spend no time doing something, then you can clearly not benefit - because Time is Money!

The cure for this insanity is diligence. Set your mind on what you want to accomplish and do it. The key to success is to keep on doing it if it delivers good results and stays feasible!

Idleness and pride tax with a heavier hand than kings and governments. ~ Benjamin Franklin

Do not love sleep or you will grow poor; stay awake and you will have food to spare.- Proverbs 20:13

This proverb requires clearer explanation. The moral of the proverb is: Don't keep all your eggs in one basket. What makes a man poor is not that he keeps on doing what he is doing, rather that he stops setting goals and is soon overtaken by others who chase accomplishment.

In order to succeed and grow in the long haul, it is neccesary to expand. Usually it is good to have at least 3 lines in your business in order to survive the waves of the economy.

Idleness leads to boredom, boredom to resentment and resentment to laziness and then to poverty.

The cure for this madness is faith. Consider:

Now faith is being sure of what we hope for and certain of what we do not see. ~ Hebrews 11:1

 Stay tuned for more tips & lessons on how to make money! Less than Adequate - Part 2 coming soon!

What is your perception on money?

Everybody needs it, no one wants to earn it.  It's all about the Money is a dedication to the truth regarding money. Whether you just want make a few extra bucks for gaming online - or a living - we need to face the facts - and more importantly, need to understand them.

Formal education will make you a living, self-education will make you a fortune ~ Jim Rohn

 Indeed. The truth about making money is; you need to do something. I do believe many of us have faced the dilemma of needing more money when there isn't any around, but the truth is:

Money never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one. ~ Benjamin Franklin

Tip: Learn from the experience of others.

Time is more valuable than money. You can get more money, but you cannot get more time ~ Jim Rohn  

 To make money, you first need a grasp of what it is. Time is Money!

 Effective learning takes time, but the knowledge gained is invaluable in the process of making money. When we work, we want to succeed. It drives us and motivates us.

Before we can define what money is, we first need to transform our minds by the way we perceive money!

Conclusion
Time is money. In order to make money, you need to spend time. Success is determined by many factors, but without a plan failure is prominent. Benefiting from the experience of others is a great way to invest time to learn what you need to know in order to be succesful.

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