Vilfredo Pareto was a known economist in the 1800s who observed that 20% of the Italian populace owned 80% of the country’s wealth. From that, it came to be known that 20% of a source was responsible for 80% of the result. This 80/20 concept, dubbed as Pareto’s Principle, is applicable to most other areas of expertise and can be used in your business and in your life.
So, you’re the big-shot (or medium-shot) college entrepreneur. Your friends notice your success and suddenly… they want to borrow money from you. What do you do?
Let’s get this straight at the onset. First, the money you lend to anybody should always be disposable income; something you’d likely spend on something you don’t need. Second, it is always a bad idea to lend money to friends particularly if you can’t pay for your own expenses yourself.
The line between graduates and non-graduates are gradually blurring. It’s been long perceived that a degree will pave the way for a better future. But if you suddenly decide to avoid the status quo, you’ll find that there are other, creative ways to getting what you want.
I’ve been told by a successful businessman that in order to earn a million bucks you’d have lost more than a million in the process. Creating your own business at a young and impressionable age can and will prepare you for life. It’s a time for growth, learning, and for making mistakes that you probably can’t afford to make when you’re older. These same mistakes will pave the way for your success.
To fail miserably means that you didn’t think of what you were doing – not before and certainly not during the endeavor, that you have money rolling out instead of in, and that you’ve lost your entire customer base.
If you didn’t plan in the beginning, you’re …
NFIB (National Federation for Independent Business) is one of the leading small business organizations in the nation, and they’re offering a new money making opportunity to all interested video producers / Entrepreneurs / viral YouTubers. They’re holding a contest awarding $5,000 cash and a free trip to the 20008 National Small Business Summit in Washington DC for the best 30 second YouTube clip answering the question “Why does small business work for America?”
The contest judges will weight these videos by the following criteria:
50% Originality
25% Creativity
25% Answering the question
So really, the key is the creativity part, since it covers 75% of the grading criteria. This seems like a great opportunity for college students, because of the cash, the free time, …
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