Opportunity Costs are the term used in economics, which explains that every business or (personally) made decision is both an occasion and a cost. If you have never been exposed to cost calculation before it does not make much sense, then I am simply formulating the concept to understand this very important concept.
Suppose you can only have a chicken or a burger dinner tonight, but not both. The chance to get chicken meat gets you the chance to get a burger. Similarly, if you choose to have a hamburger, then you will be paid the opportunity to chicken. The analogy of the opportunity cost can be applied to all our decisions, the wake-up moment of our lives. When you wake up in the morning, you can choose to wear slippers or shoes, but not both. If you choose shoes, you have the option of wearing slippers and vice versa. Give this idea to you and you will see that you make choices about how to use your time, and if you spend time on a task, it takes time for the next job and so on. The chance to stay awake can make the sleep possible. The marriage option gives you the opportunity to be single. I got the idea. The most important thing is to understand the great part of this concept in your everyday life, and it is equally important to spend time or business.
You are an unemployed, employed, self-employed, entrepreneur or investor. And in every case there is a chance and the associated costs. Can you determine what options and costs are?
I'm really good at getting schooled and getting acquainted with a case before embarking on any project. I am rarely impulsive because I have learned that impulsive actions have consequences that usually spend more than impulsive opportunities, and this is especially true in business. In other words, the impulsive possibility is to give me the opportunity to direct and control. However, the opportunity to be under control is given the opportunity to be impulsive. I choose the direction of the impulse because the probable outcome is much more positive than negative.
I came from Detroit, Michigan, from a poor family, and I did not learn enough before I started business around 20 years ago. I met a man called Doug Wright with a trade diploma in Toledo. He was a professional, seamless, well-talked, articulated, tall and charismatic man who commanded what kind of environment he was in. On the other hand, only a young man of 25 years was ignorant, naive, arrogant and wet behind. the ears know everything. Doug saw something in my personality that inspired him to mentor, and that was the best thing that ever happened to me. Doug showed me gracefully how much I did not know his great knowledge and experience. And since I'm a competitor, I went to the library and bought business books for marketing, sales, management, philosophy, and so on. On the square. I had to get equal playing field with Doug, who gradually came out with Ying Yang. I got faster, but I was not able to compete with Doug. So I spent thousands of dollars to get a deal. And I have a real estate license. And I was a commercial mortgage broker. And I wrote books that were national. And there are still many results that few people can live with. I managed to achieve all the results because I wanted to know how the world is developing, what makes a business successful, while the other is unsuccessful. But the opportunity to receive this education spends me a lot of time and money. Doug passed last year and lost a good friend
But I came from a poor environment and "I thought I knew what's going on", as opposed to really knowing what's going on here. I knew I could help people like me who want to know that they really work in business. I knew I could help people who could not afford to teach. People would be given the opportunity to acquire smart quickly without having to pay for the costs normally associated with education. So in 1990 I launched a book publishing company known as Smart Books Publishing and we read the books that included property and business. Behind the Smart Books, the whole prerequisite was to provide people with the modest means of getting to know the powerful information that provided them with the information they needed to succeed. To see the bigger picture, make better, more informed decisions based on facts than guessing. I knew I could give people like me to know the time and money they paid for.
And where did this inspiration come from? I was reading an entrepreneurial magazine one day and saw a commercial on the "How to Become a Commercial Broker" book for $ 100.00. I reluctantly and skeptically paid $ 100 for the program, I thought it was a scam. When I got the book, I read it thoroughly and got stuck, with lots of insights, how to build bank packs, how to finance business loans and commercial real estate mortgages, and so on. This single book encouraged me to issue a commercial loan to a broker. As a result, I met with major financial players in the US, including real estate developers, investors, commercial mortgage bankers, and I came from over $ 32 million in commercial real estate for financing. This would not have happened if I had not invested $ 100.00 into the mortgage program. It was the only one of the best educational investment I ever made. Do you have any answers? No. You've got enough insight to talk to the lawyers who saved the deal. And these experiences combined to inspire me to create intelligent books. The only difference is that Smart Books products are less than $ 50.00 so more people can afford the products.
What about this cost? Here is the answer: If you are missing a business or real estate education opportunity, you have a choice. The opportunity for schooling spends time, effort and perhaps some money. But what is the cost of not getting schooling? If you do not engage in education, especially when thinking about starting a business or buying from home or whatever you think is impossible to measure immeasurable costs.
Click the link below to see the time and effort click on the link and see. But what is the cost if you do not click on the link?
Copyright © 2006 James W. Hart, IV All rights reserved
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