This is one of the most important lessons you can learn in business: Every business must have customers. If you take away the customers from your local dry cleaner, or the car dealership, or General Motors, then they have no business. If you can only have one skill in business, learning how to effectively work Read More
Of the many valuable ideas I learned in business school, many years ago, few have served me better over my career than the “Sunk Cost Theory.” For those who need a refresher, the theory goes like this: Yesterday you installed a new machine on your factory floor. It cost a million dollars. It will produce Read More
I am working at my desk. I hear a soft chime, and up pops an e-mail from one of my investors. He’s asking the same question he has already asked me three times in the last two months ago. It would take me an hour to research and answer his question, just as it would Read More
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