It is a very simple idea to use the power of compound interest

Image
It is a very simple idea to use the power of compound interest  Smart people are easily attracted by complex things, and underestimate the great influence and importance of simple ideas. But Monish Pabrai is a full pragmatist, and he will not fall into this trap. "It is a very simple idea to use the power of compound interest, a very simple idea to imitate, and a very simple idea to be honest." He said. However, when you apply some powerful ideas with great enthusiasm, the cumulative effect is "incomparable".
Post a Comment

There are six clear and practical steps to turning the desire for money into reality

 There are six clear and practical steps to turning the desire for money into reality


First, imagine how much money you want. Just say to yourself, "I hope I can get enough money." It is far from enough. We must quantify our wishes (psychologically, this certainty is reasonable, and we will introduce it in detail in the next chapter).

Second, in order to obtain the above-mentioned certain amount of money, make clear how much effort you can make to exchange this wealth (there is no money in the world for nothing).

Third, determine when you want to get this wealth.

Fourth, make a specific plan to realize the ideal, and then start to implement the plan immediately regardless of whether you are ready or not.

Fifth, make a clear and specific list, write down the amount of money you want, the deadline for getting the money, the price you need to pay, and a clear plan for successfully obtaining the wealth.

Sixth, read the list aloud at least twice a day, read it before going to bed and read it again after waking up in the morning. In the process of reading, it seems that you have seen and felt this wealth, and you should believe that you have so much money.

Follow the above six steps to realize your dream, and the sixth step is particularly important.

Comments

Post a Comment

Top Posts/Right Now

Look ahead to the future and live in the present

Image
 Look ahead to the future and live in the present In short, what investors need to do is to "look ahead to the future and live in the present" -- not only strive to see the trajectory of future development, but also endure loneliness and calm down, and not pay for expensive tickets in advance for a wonderful future that is just a possibility. The fundamental analysis of enterprises must spread to three perspectives simultaneously, namely "the essence of market, the essence of the business, and the essence of investment". It will bring potential risks to investment analysis to only advocate any one of them and ignore the others. Understand the long-term development trend and final pattern of the industry from the essence of the market "supply and demand", and understand the fundamental decisive factors of the industry and the ability to produce differentiated competitive advantages from the essence of the business "competition", Then from the esse
Read more

Spatial induction and temporal induction

Image
 Spatial induction and temporal induction Before explaining the "misunderstanding of induction", we first need to fully understand the specific connotation of this thinking mode. Usually, when people use induction, they often set a certain reference first. From the inertia of human thinking, this reference is often space or time. The so-called spatial induction, in short, means that people will acquiesce to the effective law in one space, and it is also effective in other spaces or even all spaces. Just like an entrepreneur who succeeds in a certain regional market, he will take it for granted that he can succeed in other markets. We can use a more popular example to illustrate. If all the swans people see in Europe are white, all the swans they see in Africa are white, and all the swans they see in Asia are white, people will naturally default that swans all over the world are white. As the name suggests, temporal induction means that some rules that were established in the
Read more

About sales distribution channels

 About sales distribution channels Generally speaking, the higher the added value, the more complex the pre-sales and after-sales work, and the customers must continue to re-educate and explore the business, direct selling is the most appropriate. Although the initial stage is slow, the critical factor for the success of this business is to establish a strong influence on customers. In short, it is to "brainwash" customers. This complex and high-tech work channel is difficult to replace. And in the long term, the success or failure of this business does not depend on who achieved the scale effect through the channel first but on continuous innovation and the differentiation of value demands. Therefore, the temporary slowdown does not affect the long-term competitiveness of enterprises. On the contrary, this work is left to the distributor channel. The longer the time, the greater the hidden interest and the smaller the benefit. However, for businesses with low added value, a
Read more