Yes – another week simply zoomed past. Welcome once again to this fast growing blog.
Straight to the subject of today – laws of money. First and foremost, I know some people do not like the expression ‘Laws’. Whatever you would like to refer to these ‘laws’ – whether rules, guidelines or whatever, just feel free to do what you like. That should not cloud your opinion. In whatever perspective you would like to view these, be it for practical entrepreneurship (I call these lessons from the streets), or for academic purposes (lessons from the classroom), the fundamentals remain pretty much the same. You might also ask me who created and passed these laws. That will be for another day’s discussion.
So, why the laws anyway, Mr. Entrepreneur? We all know that laws, rules, guidelines help us do the right or most suitable thing and also avoid getting into problems. The laws of money obviously relate to issues of management of money, both personal money and business money. Today I simply desire to briefly look at some of the top laws of money, in an effort to ensure that those entrepreneurs who don’t know and practice these laws, possibly adapt them in the interest of their enterprises or investments, and personal lives too. Let’s have a look.
Now, you might rubbish the above laws as minor, and document your own laws. There could be hundreds of laws of money but I think the above are critical for you to watch if you want to be wealthy. On the other hand, there could be some entrepreneurs who hardly have the foggiest idea about the above laws, hence this could be an eye opener. So, never underrate anything.
The man from Omaha, I mean Warren Buffet, tells his executives not to lose shareholders money, and secondly in case of doubt they should refer to the same rule. This is terrifically interesting. You can’t ignore the kind of money that guy has by the way. It means that his summary law about money works pretty well. So you might also choose to shorten your laws to this one, or even craft your laws, Mr Entrepreneur – but be smart!
The Wise Entrepreneur