Business is solving problem at minimum risk.
Anything in business has risks.
π Marketing
π Ads
π Hiring
π System
π Branding
π Operation
π Logistics
π Process
Thread
π½π½π½
Anything in business has risks.
π Marketing
π Ads
π Hiring
π System
π Branding
π Operation
π Logistics
π Process
Thread
π½π½π½
1. Every business must take risks. Without risk, it's not a business,
it's a scam.
β¬οΈ Risk, β¬οΈ Reward.
β¬οΈ Risk, β¬οΈ Reward.
it's a scam.
β¬οΈ Risk, β¬οΈ Reward.
β¬οΈ Risk, β¬οΈ Reward.
2. Spending
Big budget for Branding.
If you succeed, you get multifold return. If you fail, you loss all your money.
Small budget for Ads.
If it works, you earn a little. If it doesn't, it wont hurt you.
Big budget for Branding.
If you succeed, you get multifold return. If you fail, you loss all your money.
Small budget for Ads.
If it works, you earn a little. If it doesn't, it wont hurt you.
3. Scaling
Start small. Make it efficient. Then invest.
E.g. Hiring 1 person. Test it out. Add SOP. Add equipments. Then hire 2++.
Ads. Try RM100. Experiment. If it works, x10.
Start small. Make it efficient. Then invest.
E.g. Hiring 1 person. Test it out. Add SOP. Add equipments. Then hire 2++.
Ads. Try RM100. Experiment. If it works, x10.
4. Taking Risks.
Involves multi level decision making. Decision making can only be improved with knowledge and experience.
Therefore, learn (read) and fail often.
That's the quickest way to be good at decision making.
Involves multi level decision making. Decision making can only be improved with knowledge and experience.
Therefore, learn (read) and fail often.
That's the quickest way to be good at decision making.
5. Assumptions.
While making decisions, we may be biased to our preference.
e.g. I prefer black over white. Therefore, every one likes black.
β Wrong assumptions.
Don't assume, always ask.
While making decisions, we may be biased to our preference.
e.g. I prefer black over white. Therefore, every one likes black.
β Wrong assumptions.
Don't assume, always ask.
6. Act on Evidence.
No data? Test out your idea. Throw into the public. Validate.
Had I not get any response, I wouldn't be teaching SEO.
No data? Test out your idea. Throw into the public. Validate.
Had I not get any response, I wouldn't be teaching SEO.
7. Welcome Risks
Finally, when you have money, act like you have money.
When you have RM200k. Behave like you have it. Don't waste your time finding the cheapest cost with huge ROI. Its no longer valid to you.
Accept the second part of "Law of Diminishing Return".
Finally, when you have money, act like you have money.
When you have RM200k. Behave like you have it. Don't waste your time finding the cheapest cost with huge ROI. Its no longer valid to you.
Accept the second part of "Law of Diminishing Return".
Business takes on Risks.
Your job is to find High Reward at Minimal Risk.
Be ready to learn and fail
and learn and fail
and learn and fail
and learn.
Never stop learning.
Any thoughts? Quote RT please.
Your job is to find High Reward at Minimal Risk.
Be ready to learn and fail
and learn and fail
and learn and fail
and learn.
Never stop learning.
Any thoughts? Quote RT please.
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