In this podcast, Richie shares his knowledge on COST vs INVESTMENT. Knowing their difference can make a huge impact in collapsing the time frame so you can achieve growth, success and wealth in business and sales in a shorter span of time.
Cost VS Investment is something that has been a constant argument in the business world.
Start ups and even established businesses begin to fail when the people in the background do not know the difference of cost vs investment. I have learned from my own experience as an entrepreneur that having this knowledge can make a huge impact in the growth of a business.
The difference between a Cost vs Investment.
A cost is simply spending money, time or resources to attain something without expecting any future gains. A common example of cost is R & D. It is not wrong to unwind from time to time, but all the same, it is a cost. It will not give you profit in the future. An investment, on the other hand, is an expense of money, time or resources with an expectation of returns. Some examples of investments are advertisements, marketing materials and personal development training.
Collapse Time Frame Through Investments.
If you have connections, skills and resources, success is almost always guaranteed. And of course, that is a good thing. However, the question that separates a good entrepreneur from a great one, is “HOW SOON?”. When you master the trick of knowing how to use your income and where to put your hard earned money, you will definitely be able to get to the top in much lesser time
If you are starting your own business or is someone who wants to increase your sales revenue, then this video is definitely for you.
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