What is a revenue stream? What are the two types of revenue streams? A revenue stream is simply a source of profit for a business—where the money comes from. Defining your revenue streams is one of the key elements of designing a business model for your company. There are two types of revenue streams in Business Model Canvas: 1) profits from single transactions, and 2) profits from ongoing payments such as subscriptions. We’ll discuss both of these elements below.
What are the most common investment biases? How do the authors of Nudge suggest overcoming those biases? In the book Nudge, authors Thaler and Sunstein note that the main reason people are nervous about investing and about defined contribution retirement benefits is because of the loss aversion bias. The authors discuss the nuances of loss aversion and some tips to overcome it. Continue below for advice on how to avoid investment biases, according to the authors of Nudge.
What are the steps to overcoming price objections? What myths about money should you be aware of when selling? Overcoming price objections starts with establishing whether the customer lacks sufficient money or is simply uninterested in the product. The next step is to convince the customer about the value of the product and why it is worth twice the asking price. Misleading money myths like “people don’t like to spend” or that “money is always in short supply” can discourage you from pressing on to convince the customer. Read on to learn more about the steps to overcoming price objections.
Do you want to level up your investing game? What are some things you can do to increase your investment earnings? Once you start seeing your investments grow—even by a little bit—you’ll start thinking about how to feed your financial growth even further. According to Ramit Sethi, the author of I Will Teach You to Be Rich, the first step to leveling up your investment game is to define a concrete reason for growing your wealth. Otherwise, you’ll risk what Sethi calls “living in the spreadsheet”: becoming so fixated on making money that you forget the purpose of having money
What is I Will Teach You to Be Rich about? What are the key points of Ramit Sethi’s money advice? In his book I Will Teach You to Be Rich, self-taught expert in personal finance Ramit Sethi distills the basics of personal money management. You’ll learn how to use credit cards wisely, choose the right bank accounts and investment accounts, plan out your spending, and ultimately create a financial system that grows your money automatically. Below is a brief overview of the key points.
What are the benefits of investing in a fund? What is the difference between index vs. mutual funds? Both index funds and mutual funds allow you to invest in a diverse group of investments. The main difference is that index funds invest in a specific group of assets (e.g. S&P 500 stocks), while mutual funds invest a changing list of assets, selected by a fund manager. In this article, we’ll explain the difference between index funds and mutual funds: how they work, their benefits, and their disadvantages.
What makes a “good” bank? What are some things you need to consider when choosing where to do your banking? Taking a little bit of time to choose a good bank now will save you time, money, and frustration down the line. There are many things to consider when choosing a bank, fees and reputation being the most reliable indicators of a bank’s trustworthiness. In this article, you’ll learn how banks make money off their customers and how to tell the difference between trustworthy banks and predatory banks.
Are you looking for a complete beginner-friendly introduction to investing? Why do money gurus recommend starting to invest while young—ideally, in your twenties? Investing is the best way to grow your money into more money, and starting early is crucial to maximizing that growth. However, so many young people miss out on lucrative returns by not investing. In this article, we’ll go through the basics of investing: the benefits of starting young, the types of asset classes you could invest into, and the difference between investing into actively managed mutual funds and passively managed index funds.
How should married couples handle their money? Should you keep a joint bank account? Completely merge your finances? How can you bring these issues to the table in a constructive and non-intrusive way? How much you choose to talk about money with your family is up to you. But if you have a serious romantic partner, conversations about money will be impossible to avoid. In this article, you’ll find advice for three common sticking points when it comes to marriage and money: talking about money with your partner, paying for a wedding, and prenuptial agreements.
Do you avoid using your credit card out of fear of overspending? What are some things you can do to minimize credit card liability? Once you have a credit card you’re happy with, you need to learn how to use it responsibly. Otherwise, it’s all too easy to forfeit the benefits and wind up saddled with debts and fees. Here are six tips on how to use a credit card responsibly.