Recently I launched a new business. It allows people to find their favorite Kindle books at a big discount.
Why bother launching a new business? One day, suddenly the idea came to me. When shopping on Amazon, I noticed that the price of a book can fluctuate wildly from one day to the next. The price could be $12.99 one day, and free the next.
Who has time to check the price every day? Wouldn’t it be great if there were a way to be notified when the book is on sale? That was the idea. And then I created the site.
If you are interested, you can check it out at Librosso.com. I would love to hear your feedback about how the service can be improved.
After launching the site, I began thinking about the different steps to business success. And that there is only one way to get from one step to the next: Action.
The Value of Action
It always amuses me when people talk about their bright idea like it is a valuable asset. Everybody has great ideas. But 99.99% of the time they don’t do anything about it.
So I came up with the 6 Stages for Business Success Read more…
Business Strategy, Dreams Come True, Internet, Money, Success
Recently I played a game called Big Pharma. It seemed interesting because it is a business simulation. It was so interesting that I stayed up until 4AM playing. If you are interested in business simulations and you have extra time or on an airplane, I suggest you give it a try.
Big Pharma Game
As I played, I started wondering if this experience is similar to what it is really like to being the CEO of a real pharmaceutical company. I imagined that much of it is quite similar…perhaps if you removed all the boring meetings and time wasted dealing with lawyers.
Business Strategy, Success
After analyzing the traffic for the Online Investing AI blog, I became curious about the most popular post of all time. It turns out to be Rich Dad’s Cashflow Game is Now Free!. This got me thinking: why is this post so popular? Of all the Rich Dad posts, why do people love this one?
Rich Dad’s Cashflow Game
Perhaps it is because of the high price of the board game. When I last checked it cost over $100, compared to perhaps $20 for most board games. Does the Rich Dad game cost more to produce? No, it costs more because it is worth more.
Business Strategy, Dreams Come True, Great Books, Money, Online Investing AI, Success
Recently I ordered from an up-and-coming online food delivery service. It was the first time using their service, and although doubtful about their value prop, I thought “Let’s see how it goes.”
Well, to put is nicely, the food sucked. It was cold and unappealing.
I contacted their customer service and expected a prompt refund and a note saying, “Sorry you didn’t like it. Please give us another chance.”
But no. They said, “No, you can’t have a refund.” So they would rather have my $26 than a happy customer.
Business Strategy, Dreams Come True, Money, Success
A wise man once wrote:
Markets top slowly and bottom quickly.
When I read this and anlyzed some of the major market tops over the last 100 years, I was surprised by the accuracy of this statement. (One major exception was the 2000 Tech Bubble, which was quite different from other market dynamics.)
S&P 500 Jan 2011 – 2016
The theory behind this is that the “smart money” figures out that a market is topping long before the average Joe. I’m not sure if I agree with the theory, but it does seem to me that the “stupid money” gets out way too late, after the market has dropped significantly.
Investing, Money, Success, US Economy
Since today is Jan. 1st, I started thinking about New Years Resolutions. And what better way to start the new year than by creating a blog post?
One thing that is funny about New Years Resolutions is that most people have them. And 99% of the time they have completely forgotten all about them by spring. This useless goal setting system is completely broken. Yes nearly all people use it. Then they lament that they “failed” in following through.
The #1 New Years Resolution is going to the gym. I wish I owned some gyms. Perhaps 95% to 98% of the members never go. And those that do go only use it a few times per month. Ever wonder my gym membership is so cheap? Because the cheaper it is the easier it is to lie to ourselves.
I don’t want to cancel it because I am going to try to start going.
I wonder why people think it is such a great idea to get drunk and party on New Years Eve. Why? What’s so great about it? It’s just another year that went by. Did you achieve your goals? Did you get rich? Did you even go to the gym? If I answered no to those questions, then I wouldn’t be partying. I would be pondering.
Dreams Come True, Success
One of the biggest hurdles that the individual investor faces in trying to create a nimble, smart portfolio is the competition.
Investment bankers, quants, mutual fund companies, and big Wall Street firms are employing Ph.D. researchers with degrees in everything from finance to physics to create model portfolios. They use the latest and most powerful technology to guide their buys and sells.
The little guy doesn’t have a chance.
That’s what I thought, until last week. George and I had a chance to see a demonstration of Chaikin Analytics, probably one of the most complete set of investment tools and stock market model-building technology that’s available for the money. Or at least I’ve ever seen.
The Chaikin Analytics Dashboard
How does Chaikin level the playing field?
Business Strategy, Internet, Investing, Money, US Economy
Given the state of current affairs, you may be a bit skeptical to invest your money in a new business that may or may not succeed. Essentially, you are putting money that could be used towards your own improvements to help improve the business affairs of someone else. It can be intimidating if you don’t have a lot of money. However, the rewards could be great if the venture succeeds.
Image courtesy NKNS
After an individual invests money into a business, this goes towards various expenses in order to help it succeed. This could be anything from paper for invoices and receipts to hiring local graphic designers for logos and signs. Landlords, utility companies, office equipment stores and more will receive additional sales due to the fact that the new company needs specific supplies and equipment. As long as the new establishment can maintain itself, this income could become residual for other companies in the area that need the income.
Business Strategy, Investing, Money, Success
Bitcoin has started to rise again, and it looks like it might be the start of the next Bitcoin bubble. Although many people have known about Bitcoin for years, most people have not purchased any coins and do not understand it.
Image courtesy bitcoincharts.com
How is this bubble different?
Accelerating Technology, Dreams Come True, Internet, Money, Success, US Economy
Many people think that this is a great time to buy gold. However, the same people who are saying that now were saying it when gold was at $1,800 per oz.
The price of gold has fluctuated over the last 5 years.
Personally, I think it is better to hold gold than dollars. The dollar is collapsing, and I think it will continue to collapse over the next decades. However, that does not mean that everyone should go out and buy gold.
Internet, Investing, Money, Success, US Economy