Making money is exactly like war.
It is a very competitive environment. The winner of a war is the side with the best information, knowledge and understanding of the terrain they’re on and the opposition they’re facing.
Just as in a war, your business needs “intel” in order to succeed and make money. You need to know everything you can about:
The Supply Chain
The Distribution Channel
The Methods others used to win
The Methods others used that failed
The financial methods used as leverage to grow faster
The most efficient ways to buy, sell, create, outsource and network
We will all have failures along the way. It’s failing fast, learning from that failure, and getting back in the game that makes the difference between winners and losers.
Get Rich Click! by Marc Ostrofsky
“We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.
— Charles T. Munger”
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Disclosure of Material Connection:
Some of the links in the post above are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”