Finance

First, why is personal budget discipline necessary?  It's necessary because without it, you're going spend more than you earn and end up living the rest of your life in debt. Spending one's entire life in debt doesn't produce growth. Personal finance growth is founded on having substantial savings, which could form a significant portion of initial investment capital.  Investments drive personal growth.  So to grow financially, personal budget discipline is necessary. However personal budget discipline can't be obtained in the absence of effective spending habits. What are the effective spending habits that guarantee personal budget discipline? 1. Having the habit of preparing a personal budget regualrly. Having a personal budget is the starting point and the driver of effective spending habits. A personal budget is a financial plan that clearly defines your expected revenue and expected expenses. For a personal budget to be effective, it must be realistic. That is, ...

  There's no one magic wand. Business survival and success depend on managing a combination of factors successfully.  Pause! This combination must be driven by a clearly thought out selling point matched by a singularity of focus. This selling point, a summary of  the primary reason customers should choose you to do business with instead of competition, is the driver of business survival and success  After you have clearly defined your selling point, shift your focus to situate it with needs and expectations of your target market, investors, suppliers and the public.  While at it, don't forget to be flexible and adaptable to changes. Don't also forget that the customer is king. Therefore, customer satisfaction should be regarded as a very important consideration for the sake of business survival and success.  Another point to keep in mind is that business success takes time. At the early stages of the business, expect expenses to exceed revenue. But with ti...