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The Art of the deal: smart purchasing, selling and bargaining for business success

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At the heart of every business transaction are three core activities: purchasing, selling, and bargaining. These are the essential mechanisms of trade, all facilitated by finance. Mastering each one is critical for maximizing profits and ensuring long-term success. This guide breaks down the key principles for each stage of the deal. Part 1: The Smart Purchaser's Checklist Before buying anything for your business, a careful evaluation is necessary to protect your capital. · Assess Necessity vs. Luxury: First, ask a critical question: Is this item essential for growth? Is it a necessary tool, a piece of equipment, or simply a luxury? Prioritize purchases that directly contribute to your business operations or revenue generation. · Evaluate Quality vs. Cost: Scrutinize the product's materials and construction. Does the quality justify the price tag? A cheap item that breaks quickly is more expensive in the long run than a durable, fairly-priced one. · Consider Value Addition: Thi...

What it really takes to build billion-dollar wealth

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The Unspoken Blueprint: What It Really Takes to Build Billion-Dollar Wealth We’ve all heard the interviews. A billionaire is asked about their secret to success, and they offer deceptively simple answers: "persistence," "consistency," "patience." It’s unsatisfying, to say the least. As if decades of world-changing work can be boiled down to a few platitudes. We’re left wondering, "What are the real ingredients? What separates them from the millions of other hardworking, persistent people?" After studying the paths of today's most successful individuals, a clearer pattern emerges. The truth isn't a single secret; it's a specific blueprint involving a unique mindset and a powerful strategy. The One Strategy to Rule Them All: Market Creation and Domination At the heart of every great fortune is a simple concept: solving a universal problem at a global scale. Let’s take your example of WhatsApp. The founders didn't just create another...