Best Business and Money Advice You Can Get

Some smart words from a one time a poor laborer - and who latter rose to become the CEO of a Multi-Million Dollar Organization (which he acquired) that turned over more than $12,000,000 annually. They are just simple and easy advice you do not learn in formal school
　　1. Cut you coat according to your size or better still extend your legs only as far as your bed is - in other words - do not spend beyond your means.
　　2. Avoid using a credit card and never take loan. If you must have a credit card make sure it is paid off completely at the end of each month. Debit cards are so much better and help to keep you within your means.
　　3. Never start a business on borrowed money. If it goes south you still have to repay the source, so why not save up and use your own funds to get started? You may how ever borrow to expand an ongoing business that allows you to earn more by the expansion. How ever the increased earnings must justify the borrowed sum when ratio-ed against each other.
　　4. Earn 100%, Save 20%, Re-invest 20%, Give 10% to Charity and live on 50%. The order is deliberate, you should only send what you have left after the deductions ie expenses come in last.
　　Live on a budget, always know where you money is going or you will wonder where it went.
　5. Always negotiate with your Suppliers. And after you get their best price - let them know you will pay 100% and then re-negotiate the price for liquid cash. You will be amazed at how much money you can make by this.
　　6. NEVER EVER EVER believe a project is successful as long as your cash is not in your bank. The cycle must be complete. Until full payment has been received for the products or services rendered, the transaction is still open and there could be surprises! Would you believe Enron was booking profits for projects that were to deliver in 4 years and even developed a name for that kind of accounting?
　　7. Do not increase your expenditure as soon as you get a raise or make some money, nothing gets you in trouble faster! Why do you think must lottery winners go broke and are worse off within a very small time frame. Unbelievably, some folks go out and buy a new car or get another mortgage just on the hopes of a raise that may turn out a ruse and not materialize. If you can keep things the same for at least another six months, you would most likely make much better buying decisions after the euphoria of "too much money" has worn off.
　　8. Never forget your roots. Live exactly how you lived when you started your career. The only change should be in your education, your business, your health and your family’s future. The rest - keep them simple.

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