A lot of online entrepreneurs are under the impression thatthey have to do everything themselves and be everything toanybody. They want to do it all. The want to be theinventor, the creator, the author, the accountant, thegraphic designer, the web designer, the copywriter, thetech guy, etc. This is very inefficient.Do only the things that you do well and then you paysomeone else to do the things you aren't good at or take along time for you to...more
Why it's better to have residual income and not solely depend on paycheck income? Residual income by definition is income earned by an individual that are generally coming from his assets at hand. It allows a person not to worry anymore spending 8 hours a day in the office working as his personal assets are now earning money for him.The current practice for people in earning a living is by getting a job and work either on an hour or annual basis....more
A duopoly is a situation in which two firms control nearly all of the market for a product or service. Duopolies can be surprisingly competitive. If you remember that the price of a product or service is determined solely by the highest losing bid price and the lowest losing ask price, you'll realize why a duopoly can be so competitive. A large number of inefficient competitors will have almost no affect on prices in the long run unless someone (either a government or a group of idiotic investors) is willing to continually finance unprofitable operations in an unprofitable industry (think airlines). Of course, there is always the fear of a price fixing scheme in a duopoly. Generally, however, that fear is unfounded. Human nature suggests a price fixing scheme is far more likely to occur in an oligopoly than a duopoly. Humans weight the fear of loss far more heavily than the greed of gain when making calculations about the future. In a duopoly, mistrust increases the fear of loss inherent to any price fixing scheme (namely, the other guy will stab you in the back). In an oligopoly, the diffusion of power and the lack of excess capacity at any one firm makes price fixing very...more
Why is a value investor writing about an unprofitable internet company? Because value investing is about finding dollars that trade for fifty cents; with a market cap of less than 75% of sales, Overstock.com (OSTK) looks like it may be exactly that. But isn't it too risky?The greatest risk in any investment is the risk of overpaying. So, the real...more
In the UK, Banks have been ordered by the financial watchdog, the Financial Services Agency (FSA) to refund Mortgage Exit Fees to clients they have overcharged when they redeemed a Mortgage. This is of major significance to those involved within the areas of Debt Management, Debt Settlement and Bankruptcy in general as these figures could be quite...more
Years ago I gave a consulting client a one-word solution to overcoming his business challenges. The one word was, "FOCUS." At our weekly meetings I emphasized the importance of focus for this successful entrepreneur seeking even greater success. We worked closely together to help him stay on track with his business goals. It was during this period that I really learned how powerful the concept of focus is, and why so many individuals whether they're entrepreneurs, salespeople, managers, or other achievers find focusing hard to do.Many popular authors and speakers talk about the importance of focus. I have found, however, their emphasis is typically centered on goal setting, habits, and will power. These are, of course, vital to the process of reaching our objectives, but I do not think these ideas really hit the sweet spot of what focus is all about - nor are they on point with the typical challenges most of us have with focus. In fact, I believe most personal development authors simplify the concept of focus and promote a sort of "focus mythology." That is, that individuals who are somehow missing the mark are not focused.Let me give you the reality.The entrepreneur not reaching...more
What is an Individual Voluntary Arrangement (IVA)An individual voluntary arrangement begins with a proposal based on your financial circumstances and how much you are realistically able to afford to contribute towards an IVA, either on a monthly...more
When I speak with many website and business owners, I usually get asked this question over and over gain. And that is "what can I do to get more customers, clients or subscribers? Well there's a 1001 answers I can give that question. Because there...more
Q: How important is the name of a business? Should the name of a business reflect what the business does or is it better to come up with something catchy and easy to remember? -- Randy P.A: What's in a name? When it comes to your business, Randy, a...more
Reduce your tax payments by claiming an interest payment deduction.If you are busy paying off your student loans, the last thing you want to do is to pay interest on the money that you're about to give right back to the government. Luckily, in a lot...more
Do you know what "proceedings supplemental" are? If you are in the business of collecting judgments in Indiana, and from time to time virtually all secured lenders are, then the June 27, 2007 opinion by the Indiana Supreme Court in Rose v....more
Decision Finance was formed in early 2000 and is the trading name for Xbridge limited an online commercial, business, and financial intermediary for small to medium sized businesses. DF has the backing of Prudential PLC, Boston Consulting Group and...more