Business Archives

Who Not How Book Advice: Invest in Personnel

What does the book Who Not How say about investing in personnel? How can spending money to hire more employees benefit you? In their book Who Not How, Sullivan and Hardy give four reasons why you should hire more personnel. They say that having more personnel will grow your business faster, will make you more money, will improve your personal relationships, and will help you optimize your purpose. Here’s why you should invest in more personnel, according to Sullivan and Hardy.

Verne Harnish: 4 Tips to Keep Your Business Growing

What does business growth expert Verne Harnish recommend to keep your business growing once it’s up and running? What are the keys to the successful implementation of your growth plan? In Scaling Up, Verne Harnish discusses what it takes to navigate an organization through the growth process. Once you’ve established a strong foundation, he offers four things you should do to guide the implementation of your scaling-up strategy. Continue reading to learn these four keys from Verne Harnish.

How to Stay Hungry for Success: Think of Your “Why”

Do you struggle to find the motivation to work on your goals? How can you get yourself to push forward when motivation runs low? Oftentimes, people think they want to achieve a certain goal, yet their behavior indicates otherwise. If you lack the drive and hunger to pursue a goal in spite of the obstacles, you must remind yourself on a regular basis why it’s worth persevering for. Here are some lessons on staying hungry for success.

How to Build the Next Trillion-Dollar Business

What do you need to build the next trillion-dollar business? What are the factors that can affect businesses in the 21st century? To build your company into the next trillion-dollar business, you will need exceptional brand recognition, enduring customer loyalty, and scale. You must also recognize the impact of the depreciating dollar, technology, and changing consumer purchasing power on your business goals. Read on to discover more about what it takes to build the next trillion-dollar business.

3 Pro Tips From Charlie Munger on Investing

3 Major Tips From Charlie Munger on Investing

Why should you listen to Charlie Munger on investing? What are Munger’s recommendations on investing? You should listen to the recommendations of Charlie Munger on investing because he along with Warren Buffet successfully built Berkshire Hathaway from a textile mill into a massive conglomerate. Their success has made them legendary in the investment community. Munger’s advice to investors is to always wait patiently for great opportunities, and be decisive when those opportunities come along. Read on to discover the recommendations of Charlie Munger on investing in the stock market.

Three Keys to Making Better Decisions in Life

Why is making better decisions important? How do you make better choices? You will become better at human relations, investing, and leadership when you start making better decisions. The secrets to making good choices are discipline, learning from the mistakes of others, and curbing ideological bias in favor of objectivity. Read more about the secrets to making better decisions.

Tenets of Berkshire Hathaway’s Investment Strategy

What is Berkshire Hathaway’s investment strategy? Can the company perpetually maintain its impressive rate of return on investments? Berkshire Hathaway’s investment strategy involves using the cash collected from the conglomerate’s insurance subsidiaries and investing it in other businesses at a much higher rate of return. The strategy has helped the company to grow to be as large as it is today. However, even Charlie Munger notes that it will be difficult to maintain the company’s historical returns because it is harder to find underpriced investments when you have billions than when you have a few million. Read on to discover

How to Identify Your Circle of Competence

What is the meaning of a circle of competence? Why must you know what you are good at? Charlie Munger defines your circle of competence as an area of expertise that matches your skills and experience. It is the subject area you are good at. Knowing your area of expertise helps you recognize where your boundary is and avoid dabbling in ventures that will lead to failure. Read more about the importance of knowing your circle of competence.

The 2 Types of Competition in Business

What are the types of competition in business? Why are conservative companies reluctant to invest in hot new technologies? In Poor Charlie’s Alamanack, Charlie Munger identifies both competition between rivals and creative destruction through technology as the two primary types of competition in business. Competition between rivals can be friendly or fierce, while competition caused by new technology can either level the playing field or give a company a decisive advantage. This is why Berkshire Hathaway is reluctant to invest in hot new technologies. New technologies are not always easy to understand and the company’s operators prefer to invest in

How to Invest Wisely in the Stock Market

How do you master how to invest wisely? What is the investment strategy of Warren Buffett and Charlie Munger? You master how to invest wisely when you learn to find fairly-priced, high-quality businesses with good management. Buffett and Munger applied these principles along with a focus on investing in companies that are underpriced by the market to become the legends they are today. Read on to fully discover how to invest wisely in the stock market.