"...the loss of potential gain from other alternatives when one alternative is chosen."
Running a business comes with an never ending series of trade offs and there are times when critical decisions need to be made that seem to have greater trade offs than what you may be accustom to. This can be particularly agonizing when a decision involves needing expertise that you may not have access to - like financing. When given an opportunity to profit from a decision that involves needing to find capital, often times entrepreneurs and business owners will either lean in and commit or miss the opportunity as a result of their lack of knowledge. Opportunity cost is a real concept that impacts many businesses but here are some things that might help you if you find yourself in a position where a gain to your business will involve being creative with how you find the capital to take advantage of it.
Watch this episode on YouTube: https://youtu.be/icc0b2sLqqw
Facebook: http://bit.ly/2ntaWI7
LinkedIn: www.linkedin.com/in/gallagherdylan
How to buy a business - Part 1 of 3
Growing a business for the sake of growing a business
What is the difference between profit and revenue?
Building wealth as a small business owner
How money works for small business owners
How to unlock cash in your business by investing in yourself
What should business owners invest in?
Who is your perfect customer?
Entrepreneurs! Cash is NOT Profit
Coinbase, Netflix and the 80/20 rule for business owners
Why own a business
Creating value versus consuming value
Cash Flow Quadrant, multiple sources of revenue and burying your head in the sand
dylan’s updates May 17, 2022
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dylan’s updates April 26, 2022
dylan’s updates April 19, 2022
dylan’s updates April 12, 2022
dylan’s updates April 5, 2022
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