In world practice of business the best quality business man is his ability to "make money." Learning that is not very easy, but it is possible with enough desire, energy and the right approach.
In world practice of business the best quality business man is his ability to "make money." In our case, to even afford a vacation in the Carpathians, for example. So, how to learn to make money? It is not very easy, but it is possible with enough desire, energy and the right approach.
Ten Rules for the Treatment of money from Herbert Newton Casson
There can be no ready-made recipes - much depends on the business
grip man, his instinct and intuition. Among Western businessmen are very
popular 10 rules for handling money from Herbert Newton Casson.
He formulated them in the book "How to make and save money." These rules may
used with success in Russian business.
So, here are ten rules for handling
with money from Herbert Newton Casson:
Rule 1: Invest only in the case or in the product or service in the popularity and quality of which you have no doubt.
Find your business, quite familiar to you. Do not throw into the abyss of business with their eyes closed. Purchase only what you can see, feel. You can not be incompetent and trusting when you put money in the deal. All pursue their goals, seeking to raise or lower prices, using the "naive subjects". Do not be such: question everything.
Rule 2: Do not invest money under someone else's emotional pressure.
It is absurd to give their money without any guarantees, except for the hot belief in your benefit. Avoid unnecessary emotions in decision-making and not be carried away by the fabulous promises in exchange for cash investment. Make their own decisions and balanced, with a cool head. Do not be ashamed to defend their own interests. Your benefit is to be a fundamental factor in making decisions.
Adhere to the principle: do not waste money, do not lend without guarantees are not put under pressure. Remember that in the business sphere should not give money just because it is inconvenient to refuse or difficult to resist the persuasive speeches. The reason for investing money can be only one - your guaranteed personal gain.
Rule 3. Do not expect to make money on the plans.
Features and mystery of human nature is that many people prefer the plans, not the reality. No need to delude ourselves up, even if it looks perfect and excites the imagination. Life inevitably will make its own changes. At the same time do not forget: each company is made up of the plans and property. The danger arises only if the plans predominate over the property.
Invest the money in the plan is possible only after its careful study and if there is enough experience of dealing with the property. Remember: the unique and unusual planned product or service, the less opportunity you have to find a buyer. But what habitual thing, the greater the demand will be for her.
Rule 4. Invest only what you can resell.
If you want to learn how to make money, do not buy anything unnecessary, obeying the momentary mood.
If any purchase remember:
Your attitude to the subject of purchase may change;
The price of the sale is determined by demand and not by the value of goods or services (the price should be the same as what you can offer on the market);
It is impossible to please their whims to spend money.
Rule 5. Do not miss any chance to make a profit, because this is the essence of the business and the process of making a profit - only a means to an end.
Use any opportunity for a quick profit. In a somewhat exaggerated form it looks like this: if the sale of the shop owner will get more profit than from his trade, he needs to sell the store. If you want to "make" money, do not waste time.
Rule 6. Buy when prices go down and sell when - are rising.
The man who seeks to invest your money wisely, buy or sell at the same time with the general mass of people. He watches from the side, studying the price fluctuations. There is a firm rule for those who want to "make" money, never buy when there are more buyers than sellers, and never sell when more sellers than buyers.
Rule 7. Your money should be in circulation.
The basis of the business - the constant turnover of capital. Rule every successful entrepreneur is the formula: buy - do not hold, and sell.
Rule 8. Take borrow as much as you can invest in your business.
The entrepreneur usually happens need a loan for the development of its business. But many are afraid to go into debt. They are trying to do business using only the means at the disposal of yourself. You should not unnecessarily be reinsured. Have the courage and take the credit. Of course, if the person then do not sleep at night, it is better not to become an entrepreneur. If you are confident in their abilities and are able to successfully dispose of credit money, Take as many as you can invest in the business, - no more and no less.
Rule 9. borrow money for development and not for the bragging rights.
Development is to expand its business and increase its capacity. Bragging is aimed only at attracting attention. Every true entrepreneur thinks first about the case and only then - currently. Remember: the most important thing in business - is what income it brings, and not what he seems.
Rule 10. Be careful with people who ask you to borrow money.
The ability to leave the bankers to lend. They know how to do it better, and know how to protect themselves.