The World's Best Book Summaries
What are real assets, and why do you need them? Part of achieving financial independence is learning the anwswer to the question what are real assets? As you explore what real assets are, you’ll find out how to build long term wealth.
What is the threat of substitutes? What does Porter’s five forces threat of substitutes mean for businesses? The threat of substitutes is one of Porter’s five forces that explains how other products might threaten your product. Even products and services in adjacent industries can threaten your strategy if your customers can substitute competing products for yours.
What is the advice of rich dad vs poor dad in Robert Kiyosaki’s book? whose advice should you take? The advice of Rich Dad vs Poor Dad is, of course, very different. The fundamental beliefs and practical advice of rich dad vs. poor dad can help you figure out the right course of action.
What is the threat of rivalry? What does it mean for your business strategy? The threat of rivalry is the possibility for other companies to form and become rivals to your company. Using Competitive rivalry, Porter explains how businesses compete, and why.
What is competition in business? You might be thinking about it too narrowly as a vicious game of winner-takes-all. But business competition can be more clever and healthy – multiple winners can win. Find out how below.
Are you looking for information on understanding Porter’s Five Forces? Understanding Porter’s Five Forces is one way to develop a business model that works. With an improved understanding of Porter’s Five Forces, you can conduct industry analyses and build strong business strategies. Here’s a guide to the Five Forces.
Are you taking steps toward being financially independent? Are there any Rich Dad, Poor Dad tips you can use? In a book filled with important lessons on reframing the idea of wealth and earning money, Rich Dad, Poor Dad tips are hugely valuable. Rich Dad, Poor Dad tips can help you change your mindframe, secure assets, and overcome your own mental obstacles.
What is unique value in the context of business, and how do you create it? Your unique value proposition is what you distinctively create for your customers. It says what your product is and who it serves (and implicitly how it’s different from competitors’ products). You need unique value to create a business plan and to sell your product.
What is the bargaining power of suppliers? Do you need it to form a business strategy? Your suppliers consist of any providers with direct input into your product, including distribution channels, marketing, and labor. How much power they have affects your competitive position and your business expenses. Learn more about how to understand the strength of your suppliers.
What makes a good strategy in business, and why? How do you know if your strategy is good or bad? Here are five key tests for defining a good strategy, as defined by famed business professor Michael Porter. We’ll also discuss what bad strategies tend to be, and how to avoid them/