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Priceless
Advice From An Elderly Gentleman
JV-Network:
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Priceless
Advice From An Elderly Gentleman
How
much is this piece of advice worth? Oh, absolutely priceless!
Not because it comes from the mouth of Minister Mentor Lee Kuan
Yew. Last month, I met a seasoned businessman who advised us
along the same line: "If someone wants to buy your
business, you must sell out and cash it in."
Hard
to believe, isn't it? Well, successful businessmen sometimes think
the most unconventional thought. In "The
Million Dollar Observation", we wrote about how a person
can evolve from being a 'square' to a 'rounder'. In fact, this
line of evolution is similar to Robert Kiyosaki's trademark EBSI
Cashflow Quadrant.
E → S: When an employee runs the risk of not getting paid by someone
else, s/he must quickly build a business through
which the world pays him/her (S stands for "small business
owner").
S → B: To grow a small business into a big business, something like
a better input must improve the business into a self-functioning
and self-financing system. It can be better technology
or extra hands. In any case, the originator of
the business stands to earn more through LEVERAGE.
B → I: Robert has always stressed that the
rich make their money work for them, primarily through
gaining consistent returns with interest from investments. The
'spare' cash for investing would come from the business system
which no longer requires more capital to feed itself.
However,
suppose someone comes along and recognizes your system to be an
excellent income generator, and s/he wants it. Usually, the
asking price is for a good lifetime value of the system (which
means it can be very high), and with this money you can
have when the generator is sold, you can pump more into your current
investment instruments for bigger returns. Alternatively, like
what MM Lee said, you use the money to buy something of urgency,
e.g. a home. If you had not sold your business system, how long
more do you think you can wait to amass the capital to buy a home?
The
transition from E to S is building a business. The transition
from S to B is leveraging a business. The shortcut from B to I
is selling out the business.
You
see, the 'trick' about successful and shred businessmen is that
with the experience they gained from creating income generating
business systems, they know they can always think up another
new idea. Who's afraid of losing a business system?
The
moral of the story is this: Do not fall in love with your
business! When someone wants to buy it, consider the
occasion a GREAT opportunity.
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Your
Inner Strength Info-chest |
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Articles
by Iris J Chapman
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Articles
by Iris J Chapman
5
Ways To Get Exactly What You Want From Life
11
Ways To Achieving Your Goals
This
is quite interesting. It's about the dynamics of how a society
or civilization sustains itself according to supply and demand:
Internet
Marketing Saturated? by Jerry Lunsford
Best regards,
Nelson Tan
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