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“Anybody could have done we did,” an IBM spokesman told us candidly. “Part of the reason we went this route was speed. We wanted to enter the marketplace in a hurry, and it was quicker to buy off the shelf than for us to make it. The other reason was there was no compelling reason for us to do it ourselves. There were good components out there.”
Think about that for a minute. Here is one of the most successful companies in American history saying, in essence, it didn’t have to reinvent the wheel. There were good parts already out there; all we had to do was put them together. “We didn’t have to do everything ourselves.”
Put in italics, the statement looks so obvious as to be absurd. Yet, if you look at the thousands of small companies that fail each year, you’ll find there is at least one common thread: They spent money needlessly. Yes, if you are going to be in business, you have to produce a product. But that doesn’t mean you have to manufacture it. Yes, your product will have to be packaged somewhere, but you don’t have to package it.
Simply put, you don’t have to spend money to make money. In fact, you shouldn’t.
Financial advisers are always thinking of new and different ways to save money. They counsel clients and apply the same principles to their businesses. After all, if expenses can be cut, profit increases, right?At the most basic level, yes. Unfortunately, this kind of thinking has been proven counterproductive.In reality, boosting revenue drives profitability better than decreasing expenses. This concept, once internalized, can make a huge impact on a firm's bottom line.In short, generating10% in additional revenue in a profitable business will prove more beneficial than cutting expenses by10%.If focusing on revenue is key, why are advisers still concerned about controlling overhead? In fact, rather than reducing expenses, spending more in the right places has shown to be successful in producing exponentially greater net earnings.
Spending money is a skill. You can spend with intelligence or stupidity. You can use your money to increase your financial worth or you can just waste it.Businesses that spend money intelligently make more profit. Their employees earn higher salaries and their customers get better service. Businesses that spend money foolishly cannot afford top employees who produce high-quality services or products.Your personal spending habits can make you rich or poor. For example, a married couple accumulates over $2 million during their working years with intelligent spending. Another married couple, with a similar income, have no savings when they reach their60's because they never knew the principle that is covered in this article.
Its50:50 .............. It is not the case always.................. YOU actually needs BRAIN to earn money ................... BRAIN to invest the earned money wisely and BRAIN to earn profits from the invested money.
yes i am agree with that off course
Exactly! It is the same case like Higher the Risk, Higher will be the Returns.
Yes i agree but those who are extra ordinary talent, they don't need to spend. Because they are hired for their assignment.
I agree with all the experts good answers. Thank you.
I fully agree with the answers been added by EXPERTS....................Thanks.
Its New era . You don't need money to make money. Invest your time and skills to make money . Having no money doesn't mean you have no resources.
