One of the greatest challenges in business is that you must take decisions based on incomplete information while being distracted by your emotions. Opportunity costs and the sunk cost fallacy are essential to master to navigate such a challenging decision-making...
Imagine a skill so great that Sir Isaac Newton, the father of modern physics and the discoverer of the concept of gravity, attributed his success to it. In his own words, he stated, “If I have made any improvements in the sciences, it is owing more to patient...
Entrepreneurship is often pitched as this far-off dream that requires lots of knowledge and years of study. I can’t blame business schools for emphasizing the value of their entrepreneurship programs – it is their business to teach as many students as possible....
“Money, money, money Must be funny In the rich man’s world […] All the things I could do If I had a little money” (“Money, Money, Money” by ABBA) Start-up capital is the fuel that transforms your idea into a full-blown business. Start-ups typically...
Selling products with unlimited sales margins (the profit percentage on sold items) should violate the rules of economics. Except there is a way to do it by selling products that cost you nothing. This sounds impossible, but it isn’t. The trick is to focus on...
