A friend once told me that losing weight is easy: Make sure more (calories) are going out than coming in.
Business is easy too: Make sure more (money) is coming in than going out.
Of course, understanding how to lose weight is not the problem for most people. Similarly, understanding business is not difficult either. The problem is in the execution, not the concept. Business and dieting both require discipline.
Before you make any business decision, ask yourself these two simple questions: 1) Will this decision increase the amount of money coming into my business? and 2) Will this decision decrease the amount of money going out of my business? If the answer to both of these questions is “No,” it is a bad decision. Don’t do it.
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