I just had an interesting discussion this morning with a younger gentleman who was interested in doing business, (who isn't?)... He shared that has done several types of business before, ranging from being a vendor to a telco, to various multi level businesses and is currently into real estate and insurance.
Interesting... then I asked him on what he knows about 'systems' and that got him to be in a thinking process. When we further discussed on the importance of having 'systems' in place our conversation got deeper and more interesting, and he started to realized that his previous business ventures would have faced less obstacles if he understood more on systems.
I did not want to continue my discussion beyond 1 hour so I lend him some materials to get him into deeper thought process on the importance of Systems and what does it mean.
However what dawned on me is this... He does understand the 'logic' of doing business, and with that understanding alone, he actually went into several businesses. But he faced many challenges, such as people challenges, market forces and many more.
While driving back home, one of the things I realized was, basic concepts such as 'cash flow', assets, systems, active cash flow, passive cash flow are something he is not that aware of. In fact most people I met aren't really aware of it, but once these concepts are explained, I can normally see some thought process happening...which makes me feel happy.
Here's a simple video that I find easily explains these concepts :).. Have fun...
*my Friday evening ramblings
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