HOW I MADE $46,237.50 ONLY WORKING WEEKENDS
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The 3 core principles of business are:
1) There are only 2 classifications of business a) Goods; and b) Services. Goods are items that are tangible (physical items or units). Services are activities that are provided by others.
2) Focus on Supply and Demand, both of these principles are based on the target customer group. Under supply and demand are your two focuses: A) Production. Your ability to produce products and services at a high enough level of quality and consistency over time. B) Distribution. Your ability to get your product or service to the market in a timely and economic fashion. Supply and demand is the relationship between quantity of the commodity, or the ability to provide a service and that producers desire to sell at various prices and the quantity that consumers wish to buy it at.
3) All things, including people are either an asset or a liability.
ASSETS. a useful or valuable thing, person, or quality. (Something or someone that has the potential to make you money)
LIABILITY. the state of being responsible for something, especially by law. (Something or someone that has the potential to cost you money)
Bear in mind, some assets may cost money. But the return (what you get out, or the potential) should outweigh the investment (what you put in).
The combination of these 3 things, help from what is known as “fair market value.”
FAIR MARKET VALUE. a selling price for an item to which a buyer and seller can agree.