You Should Be Getting Paid Twice

Adam Smith wrote in his book the Wealth of Nations, “The value which the workmen add to the materials, therefore, resolves itself in this case into two parts, of which the one pays their wages, the other the profits of the employer upon the whole stock of materials and wages which he advanced.”  As an entrepreneur, you didn't [...]

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Industry Knowledge Is Overrated

When it comes to owning and operating a business, industry knowledge is often not required.  In fact, in the case of many franchise-type opportunities, being an expert is considered grounds for non-acceptance.  Jeff Bezos, the founder of Amazon.com, never sold a book.  Henry Ford was a farmer.  When it comes to starting a business, industry knowledge is often [...]

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Awaken Your Inner Animal

Upon securing the beach, Cortez ordered his ships destroyed.  This removed his army's retreat option, forcing his men to conquer the enemy or die.  Having nothing to lose awakens a cornered animal's survival instinct.   The history of successful businesses is full of “go for broke” examples.  A study by the SBA into business success among veterans [...]

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Taxes Are The Currency Of Politics

To get elected Politicians need both money to campaign and, ultimately, votes.  Massaging the tax code is a favored way of getting both money and votes.   Offering tax credits to an industry gets you money from lobbyists to fund your campaign.  Providing tax credits related to mortgages, childcare, or education to the voting public buys you [...]

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