Business Archives - Page 5 of 7

Permutations, Combinations, and Probability

Permutations, Combinations & Probability (16 Word Problems)

“And the great useful model, after compound interest, is the elementary math of permutations and combinations.” – Charlie Munger. What did Munger mean by this quote? Permutations and Combinations Charlie Munger, the long-term business partner of Warren Buffett at Berkshire Hathaway, is known for his emphasis on mental models—frameworks for understanding and interpreting the world. […]

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10 Best Blue Collar Millionaire Businesses to Start in 2023

Business / Holly Burns

The concept of a blue-collar millionaire refers to individuals who achieve financial success by starting and growing businesses in trades or industries traditionally classified as blue-collar. These businesses often involve manual labor and specialized skills. The allure of starting a blue-collar business lies in the potential for high demand, the opportunity to build a solid

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50 Entrepreneurs Share Priceless Advice

Business / Steve Burns

As a life-long entrepreneur, I can’t help but admire the individuals who transformed their dreams into reality. They’ve inspired countless others to pursue their passions and build successful businesses. These are the most educational quotes from the entrepreneurs who built the best products, services, and businesses over the past 50 years. This blog post will

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Why 50% Of Businesses Fail: Decoding Business Failure

Business / Holly Burns

Imagine investing your time, money, and effort into building a business, only to watch it crumble within a few years. Unfortunately, this harsh reality affects approximately 50% of new businesses. Understanding the reasons behind these failures is crucial to increase the odds of success. This article aims to help entrepreneurs recognize and address the factors

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10 Businesses That Will Never Fail

Business / Holly Burns

The business world moves at a breakneck pace, with some industries experiencing rapid growth and others struggling to stay afloat. Amidst the chaos, some businesses withstand the test of time and continue to thrive despite changing market conditions. This article delves into the world of evergreen businesses that maintain their relevance and profitability through thick

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Turning Products Into Companies

Business / Steve Burns

Have you ever encountered a fantastic product and thought, “This could be the next big thing”? Sometimes, a product idea has the potential to become so much more. That’s where the concept of turning products into companies comes in. In this blog post, we’ll explore identifying a product’s potential and transforming it into a successful

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The Most Important Skill In Business

Business / Holly Burns

In the business world, professionals must develop various skills to succeed. These skills can make or break a career, from effective communication and strategic thinking to adaptability and leadership. However, among these many competencies, one skill reigns supreme: sales. In this blog post, we will delve into why sales are the most crucial skill in

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The Rise of Nike: How One Man Built a Billion-Dollar Brand

Billionaires, Business / Steve Burns

Since its inception, Nike has grown into a global powerhouse, dominating the athletic apparel and footwear markets. With a valuation well into the billions, the brand stands as a testament to the vision and determination of one man: Phil Knight. This article delves into the fascinating story of how Knight built Nike from the ground

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How Rockefeller Built His Trillion Dollar Oil Empire

Business / Holly Burns

John D. Rockefeller, a formidable industry titan, revolutionized the global economic landscape by constructing his astonishing trillion-dollar oil empire. This pivotal figure, whose influence remains evident today, set the stage for the development of the modern petroleum industry. This article delves into the remarkable journey of Rockefeller, exploring the intricate strategies and bold decisions that

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Opportunity Cost Definition and Real World Examples

Business, Success / Steve Burns

Opportunity cost is a fundamental economic concept that plays a significant role in our daily decision-making process. Warren Buffett, one of the world’s most successful investors, has often stressed the importance of understanding opportunity cost when making investment decisions. By grasping the concept of opportunity cost, we can make better choices regarding our time, money,

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