“If you run a bakery, you need a baker, a shop assistant to sell the cakes, and someone to oversee the finances. Would you employ the same person to do all three jobs? Of course not. Your financial wizard may know nothing about baking, but he will keep your accounts in perfect order. Your shop assistant may know nothing about finances, but he understands how to treat his customers. Each brings a unique skill to his job. In the same way, you may know enough about each set of skills to be able to manage a team of people, but you aren’t necessarily the best person to actually do the baking, even if you have a rough knowledge of it.”
― Sources of Wealth
― Sources of Wealth
“Each system may have a specific purpose but it links with others to achieve a common goal. Systems ensure a solid working approach across the board to make sure your company runs as efficiently as possible. Typical systems include operations, product development, billing and accounting, customer service, marketing, HR, and resource management.”
― Sources of Wealth
― Sources of Wealth
“Cash flow is the life blood of your business. It allows you to develop a product, undertake research, cover overhead costs, and invest in future projects. You should review your financial situation regularly to anticipate future expenses and allocate your budget appropriately to ensure they are covered.”
― Sources of Wealth
― Sources of Wealth
“Don’t be generic or abstract. Highlight the benefits for your customers: If you’re selling a phone, don’t sell the phone itself, sell the ideals that the phone brings (conversations, connection, games, music).”
― Sources of Wealth
― Sources of Wealth
“Leadership is a skill you will need to learn to be successful in business. Good leaders are able to inspire their teams and achieve more than those who are overly forceful or too weak. The best business leaders have a mix of formal education and street smarts, stay focused on the mission, welcome feedback, and listen to their teams. They seek to bring out the best in people. Sometimes being a leader means making tough decisions—you have to be prepared to take the rap for whatever choices you make.”
― Sources of Wealth
― Sources of Wealth
vasin’s 2025 Year in Books
Take a look at vasin’s Year in Books, including some fun facts about their reading.
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