Comments on: Helping Individual People Can’t Make You Rich

By: for information click

for information click — Sun, 24 Aug 2008 12:05:26 +0000

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By: Brian Armstrong

Brian Armstrong — Sat, 31 May 2008 18:26:17 +0000

Thanks Adam!

By: Adam

Adam — Wed, 28 May 2008 23:38:17 +0000

You are one of the very few who reveal business secrets at no costs!
I find your post extremely helpful
Thanks

By: 8 Great Business Ideas You Can Steal

8 Great Business Ideas You Can Steal — Wed, 28 May 2008 05:02:02 +0000

[…] well and don’t require your personal time for each person you […]

By: Inspiration To Quit For The Week

Inspiration To Quit For The Week — Sun, 04 May 2008 01:34:01 +0000

[…] Sivers discusses the exact point I made a few weeks ago (with a much better example than mine) If you sell pens for a living and someone […]

By: mr.sanchez88@hotmail.com

mr.sanchez88@hotmail.com — Mon, 21 Apr 2008 18:55:49 +0000

Great Post Brian,

May I add that by reading this post dont just go home and spent countless hours being frustrated in thinking up ideas. The best Ideas are thought of mistakenly. Take your time and keep a very open mind of everything around you. Seek solutions to everyday life problems we face. Once you do this you will be very surprised at the ideas your brilliant mind coughs up. Good Luck!

By: Anthony Kuhn

Anthony Kuhn — Tue, 15 Apr 2008 20:01:06 +0000

Brian: Wealth creation ought to be taught in high school right beside Checkbook 101 or Credit Card Debt. Why is it that savings accounts are no longer the way to financial freedom in old age, and why can’t a wage earner be expert enough to be in high demand and draw in the big bucks? Small thoughts, those, when compared to passive income streams and return on investments. Thanks for shaking up the bee’s nest a bit.

By: Brian Armstrong

Brian Armstrong — Thu, 10 Apr 2008 03:54:07 +0000

You’re right about “variable cost”. Others might want to read up on fixed cost vs. variable cost. Your most precious asset is your time.

By: Tom Volkar / Delightful Work

Tom Volkar / Delightful Work — Wed, 09 Apr 2008 20:49:54 +0000

Excellent post Brian, serving one at a time can be fulfilling but it is still trading time for money. True freedom is found by creating income streams that do not require your physical presence. It’s the leverage in such systems that create the wealth and the freedom.

By: Quotes

Quotes — Wed, 09 Apr 2008 16:44:00 +0000

Hey Brian.
Good post. I don’t think it’s a coincidence that the biggest fortunes are made in businesses that scale well. The Walton fortune was made in retail. Warren Buffett made his by investing (largely in insurance). Gates, Paul Allen, Larry Ellison all made theirs in software.

It’s worth noticing that the thing that makes all these businesses scalable is the low variable cost. The cost of the ‘next’ copy of Windows or the ‘next’ bottle of Coke is negligible. All the expense is in product development and marketing.

Contrast that with Ford, GM, Boeing, etc. The next car that rolls off the assembly line is going to cost a lot to build. The variable costs are higher.

So when evaluating business ideas, consider the scalability of your time as well as the variable capital cost. And remember what Warren Buffett said: “When a management team with a reputation for brilliance joins a business with poor fundamental economics, it is the reputation of the business that remains intact.”

For more quotes like this on business, you might like to check my site: http://www.quotationcollection.com/tag/business/quotes