The new niche of NOW Economics will be to help online business and start-ups establish proper financial management to become more profitable, grow and make better strategic decisions based on financial data. Approximately 40% of business make profit, 30% break even and 30% lose money and a huge reason many businesses are not in that top 40% is due to a lack of financial management. A lack of financial planning, analysis, internal controls and cash management are one of the leading causes of business failure.
Jeff Bezos, the founder and CEO of Amazon has built one of the most valuable and impactful companies. He became the wealthiest man in the world in July 2017 passing Bill Gates with a net worth of $100 billion. With this level of success, it would be disrespectful to not do a case study on Jeff Bezos. There is a lot to learn from his career journey and principles, which we could adopt in our personal lives to increase our chances of success.
A lot of people that want to be entrepreneurs end up getting in their own way and keep doing things that prevent them from ever accomplishing their dream of becoming a business owner. After doing some research listening to various podcasts, reading business books and speaking with entrepreneurs, I have a list of things wantrepreneurs can do to set themselves up for success.
Tesla’s aggressive product creation and capital expenditure could be a disaster. Tesla is burning through almost half a million dollars every hour. According to Bloomberg’s calculation, Tesla would use all their available cash by August 6th. However, the company says that it will have enough money to meet their production targets.
Rav’s story is truly inspiring and I have been watching him build The Market Mogul over the last two years. Learning about his journey has allowed me to learn more about what it takes to make it in the world of business and I hope to emulate his success one day.