Come closer to the story and share your Business fire🔥.

A place where we promote business education among teenagers.

As the fire was bringing together the people and it was a place of sharing stories and ideas.

Takka it’s a virtual place where we join and debate business concepts.

Takka = your business fire🔥

My taxi driver.

The taxi driver takes me from the office to one of my biggest customers. As I was working until the last minute, I hurry, and the traffic is steady.

-In which domain you work, Mr?

-In advertising

-Advertising? I'm not too fond of all the annoying advertising and not even look at them.

-What phone are you using?

-Apple, of course. It's the most stable and safe in the world.

-Where did you order the product?

-On Amazon, I found the best prices there.

-How did you know that they have the best price?

-I search on google! I'm telling you advertising doesn't work for me.

What is the added value of one potato?

A portion of french fries. Yammy

A portion of baked potatoes. Yammy.

A portion of chips. Yammy

A stream of 0.8 watts of electricity. Zzzzz

Circular economy.

An amazing concept that put the entrepreneurs to develop products that will become rubbish in 2,3,4 5 years.
We suppose to concept the product so that it will be easier for us to be reused later.

One great example is the producer of Timberland, who is making the bottom of the shoes using rubber from car wheels.

How we can reduce the waste.

We have examples from chicken farms that use the waste from the chicken as fertiliser and even as a source of gas for heating systems.

What else we can do?

Can the producer of a washing machine create one amazing piece of machinery that could last for a longer period of time and when is not efficient anymore to replace the main component in the same structure?.

Yes, it could be expensive as long as we want to own one. But what if you can just rent it?

Big companies are using this system for printers. They don't own the printers (non-current assets that depreciates) and have current liabilities, which could be easier covered monthly. No stress with repayments at the supplier is coming to repair them.

What else can we do in the development stage to be able to eliminate waste?

Jim’s need.

A man named Jim was dying in the desert.

Water, water, I need some water. But, unfortunately, the sun was up, and the temperature was too high for him.
The mouth was sour; something is passing by—help, help, help.

A traveler was passing on the back of the camels.

The stranger asks: what do you need?

Jim: I want ice cream.

Stranger: Wrong answer. There is a difference between a need and a want. A need is something essential for living and wants non-essential for living.

Jim: I needed water.

Stranger: That's the correct answer.

What are you doing for a living?.

Mr. Takka met one day in an airplane with a passenger on the flight from London to New York. It was cold inside, and you could feel the smell of the food from the cabin.

Eager to break the ice, Mr. asked:

Mr. Takka: What are you doing for a living?

Passenger: Guess. I'm responsible for creating and checking the accounts.

Mr. Takka: You are an accountant.

Passenger: Yes. After a while. What are you doing for a living?

Mr. Takka: Guess. I'm educating teenagers to learn about accounts.

Passenger: Most probably, you are a magician!

Mr. Boston.

We as individual encounter crucial decision moments in our life. As you move to primary, secondary, 6th form, uni and taking different jobs.

As a company, we face different cycles, series, from the idea of the business, startup capital, and creating the first product.

One of the most fantastic tools that business use when deciding about the new turn in terms of marketing strategy is the Boston matrix.

The tool gives us the chance to see what is the potential of our product. Is our product still in demand from the actual customers? Can, we expand the look-alike audience among the same target market. If yes, let's squizz the lemon; that will be called market penetration.

If no. Hmm. We have two options: find a new market and a segment interested in our product. For example, if we sell cereal bars and the product declines in phase in our county, we could start selling the product in a different area, market development.

Or we could try to make a different product, chocolate bar to sell to our current customers, that will be product development.

We had market penetration, market development and product development. The fourth and most risky one is to create the chocolate bar and sell it in a different count, a new product in a new market. It is the most dangerous because you do not know the outcome and even the market very well.

Richard Branson is a genius entrepreneur who can develop and sell products using this strategy. Just look at the company's portfolio that he is operating: Virgin cola ( Soft drinks), Virgin Radio, Virgin Airlines, Virgin mobiles, Virgin trains, Virgin records.

Training by example.

I am learning by watching a more experienced worker.

If we have to lead by example, we should have trained by example?

The oldest way to know it's still the most potent and efficient as give a chance to the trainee to model the trainer in the process of acquisition of new skills and knowledge

The transfer could be the level of behaviour, values and even identity.

In the process, we should identify the four stages:

  • front, autocratic, when we explain what, when and why we are doing

  • next, democratic, when we do the task together and reinforce what, when and why

  • back, monitor, we evaluate the progress of the trainee and put leading questions to acquire the skill

  • closed, perspective, we watch the trainee and give feedback as the trainee teach another trainee

Stages could be used in any learning process, from education to delegation.

The goalkeeper.

It happens from time to time in businesses to have a key person who saves the team and the company. He/ she is rewarded and receive respect from the teammates. However, after a certain period, the goalkeeper starts to lose track, and the performance is going down. First, it was a great goalkeeper, but now it pulls back the team.

What should I do?

Should we connect with the person and see the situation from his own eyes. Indeed, he/she wants to be recognised, and if it is necessary, it will do it again to prove.

Do we still need a goalkeeper?

Most probably not if we sort out the problem and implement the proper process.

How do you ignite the fire in a goalkeeper?

Does he/ she need a change of identity?

Miss Price.

She is amazing, and she's a very good friend to Miss Profi. If we can charge higher prices, we have a higher chance for profit at the end of the month and year.

Miss Price, it's adjusting her strategy based on the costs of the company ( cost-plus pricing), competition ( competitive pricing), the moment in the product life cycle ( beginning: penetration pricing, end: promotional pricing), demand for the product ( dynamic pricing) and some times try to seduce the customers creating a better perception about product ( psychological pricing).

The main mission for her is to provide value for the money she is asking. We need to have a win-win relationship with the customer. Miss Price makes sure that business is sustainable and have a high chance to expand and serve more customers.

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No pressure.

Pressure appears the moment we have a need or a desire. The need it’s the best teacher as it takes you in a learning process.

What it's the proper pressure that could take you closer to your goal.

How well are you coping with over pressure or no pressure?

We avoid pressure by switching from what we need to do to what we wish to do.

This is most obvious in school when we prefer one subject to others, and even though we are committed to a subject, something g kicks in and push us on another trajectory or avoidance. We call this procrastination.

We are disconnected from ourselves, and we push artificially toward a superficial target.

Are you crazy?

I do not have any needs that could motivate me!

When students start business studies, they can be split into four categories:
-students that have a difficult financial position and want to increase wealth

-students that have somone challenged by business and want to help

-students that fancy to be independent, chasing status and fame

-lost students; they didn't have anything else to do.

Don't mess with Mr Cash.

We had the chance to discuss about Mr Cash, Miss Profi and Mr Equity.

Mr Cash is making sure you can pay for your dinner at the end of the days.

Miss Profi tells you how you can generate revenue, sales revenue and transform that into profit.

Mr Equity is telling you how wealthy you are and what is the evolution of your network.

You and other stakeholders suppose to have a direct interest in our three friends.

The challenge is that you suppose to be able to juggle all three relationships. You have to keep them as close as possible. You may drop the company's profit ball and even equity from time to time but never mess around with Mr Cash.

You can have a fantastic business with high profits, and even your equity increased. Still, if you have a prolonged period when you cannot repay your suppliers, employees, or taxes, the stakeholders could ask for insolvency to recover their money.

You will need to rush in selling some assets, leading to lower profits and even selling products at a loss. Some companies are selling essential assets affecting the long term development of the company.

Worker's appraisal.

Worker's appraisal is easy. Hard is to convince the managers that they are not perfect.

Business online learning.

Online learning is easy. Hard is when you are at the lesson, you have to pick up the delivery from the door, and you are eating a sandwich at the same time..

Comfort zone.

Christian doesn't want to come to school anymore. After a lengthy discussion with him, we find out that.

As a student, he encounters different challenges during the school week. One day he went to school and fall on the stairs in front of all his colleagues.

Could you imagine the embracement?

From that moment, he never used the front stairs. Two weeks later, as he was coming up from History, his backpack open and all the belongings, books, notebooks, iPad, favourite sandwich with salmon was all over the place. He is sure to himself that he will not use the back stairs anymore. The only way to go to the lessons was to use the elevator. But this was only for people who have special needs.

After the stairs, he found a way to trick the teachers that he is injured and started to use only the elevator—Upgrade—music and effortless.

After four days, we had a power cut for electricity and surprise, whom do you think spending 45 minutes in the elevator to be rescued Christian.

From that moment, he could not participate in the lesson as all the entries have attached bad memories.

As he realises the process, he said: If I continue like this, I will not get out of my room. From that moment, he started to challenge himself and started to have a normal life.

We were challenging our comfort in life, and business could make us discover ourselves and the world greatness..

I don't like cars anymore.

Mr Equith told me that if you buy a 30 000$ brand new car the moment you open the car door, you lose 20% of the vehicle's value, -6000 $. Say what?

Is it's becoming a second-hand car.
And this is not all. What?

You have an around 200$ monthly cost with the petrol, service at least once a year 250$, insurance around 1200 $, tyres needs to change every four years, and if you have also winter tires let say 250$ year, cleaning of the car 12months x4weeks x10$ per cleaning=480$, window cleaning, 50$, car tax depends on the country, let's say 100$/ year. Road fees: 100 $ month

We pay cash 30 000$ at the end of the year. The value of the car (Netbook value) is 24 000$ and is generating another 2530 $ costs ( current liabilities)

This is a perfect example of an asset that takes money from your pocket; unless you use the car to generate revenue, like a taxi or Uber driver.

Cars tend to lose most of the value in the first year. Be aware of what assets take money out of your pocket and which generate revenue.

Thank you, Mr Equity.

Meet Jim.

Jim looks like a great business partner, funny, full of friendly jokes and entrepreneurial. And rich.

He has a fantastic house with a swimming pool in a cool area he has even a basketball net in the swimming pool. He drives the latest BMW car. Cool enough?

The value of his all belongings is 2 million USD. Promising?

Let's check the liabilities. Surprise: 2,5 million. In other words, his net worth is -0,5millions $. Not so glamorous anymore.

We are not judging people from their financial accounts as long as they are our friends. The moment that they are becoming our partners, we need to see their financials. This is what also a bank will do. The bank doesn't ask you what uni did you finish, not even your business grades.

Mr Equity will tell you how rich you are what is the net worth of your partners.

He is giving a more significant image of the value of the company.

Things you own, phone, notebook, pen, tablet are your belongings, and we call them Assets. The ones you own use and consume in less than one year (pen, notebooks) are called current assets. It mainly represents the money in your pocket or bank (cash), the value of stocks/ inventories, and the money you expect for products sold from customers (debtors).

The phone and the tablet we suppose to use and "consume" in less than one year and are considered non-current assets (fixed assets)

Miss Profi.

Use Mr Cash is making sure that you are not left without money in your pocket. Miss Profi it's looking on a longer-term it is making sure that you transform your sales revenue into profit which further will go as tax to the Government, to your pocket as owner and the rest remaining within the business.

Miss Profi is calculating all the costs within the business, for example. If you started your business with your lemonade stand, she would tell you that you have expenses with sugar, water, lemons, cups, equipment to squeeze the fruits, the stand and, of course, your time.

She is fantastic as she is splitting these costs into two categories to make you aware of some of the price you will have even though you are not selling any lemonade. Mainly that will be the expenses, which tend not to change with the number of lemonade sold. They are cold also overheads.

Mainly we have the cost withstand, equipment and wage for yourself.

Why is that amazing? Because you need to be able to sustain these expenses as you go.

The second category will be the costs of the goods sold, which tend to move as you sell more lemonades: sugar, lemon, water and cups.

Sales revenue minus the cost of goods sold give us the Gross profit

Gross profit minus the expenses give us the Net profit before interest and tax

You guest taking out the interest that you have to pay if you did an overdraft to pay for the lemonade stand you will deduct from here.

After you paid the interest rate and after-tax (16-20%) depends on the country, you will have Net profit after interest and tax; )

Now what is left will be split between the owner as dividends and Retain profit, the profit that will stay further within the business

A Sales revenue: 100 cups of lemonade sold x 2$ (selling price)= 200$

B Cost of goodssold: for each cup sold 0,5$( sugar, cups, water, lemons) x 100 cups=50$

C Gross profit : A-B= 200-50= 150$

D Expenses: 100$(5-$ the rent for stand and equipment+ 50$ my cousin wage per day )

E Net profit before interest and tax: C-D= 150-100= 50$

F Interest paid to my Dad for the money borrowed 5 $

G Net profit after interest: E-F= 50$-5=45

H Tax 20%x 45= 9$

I Net profit after interest and tax: G-H= 45-9=36$

J Dividends (for my lollypop) my reward as an entrepreneur for the time and risk invested: 6$

K Retained profit for my next business adventure: J-I= 36-6= 30$

Respect Miss Profi for my lollypop.

Mr. Equity - Liabilities.

We have different liabilities, obligations as individuals: electricity bill, water bill, gas bill, rent, taxes, bank loans for car study, mortgage.

Mr. Equity split them also into two main categories. We have to pay in less than one year like taxes, rent, utilities, and we call them current liabilities.

The other obligations that we have for more than one year like long term loan and mortgage.

If you want to have something certain in life, you need to take a loan as it constantly, and you are not allowed to miss any terms.[ suppose to be a joke]

Liabilities are not harmful in their form as a business uses long-term loans to expand the business and buy assets that bring revenue to them.

Make sure at the individual level that the assets that you buy are not taking money out of your pocket, like a car for personal use.

Mr. Need.

Why we should learn business, Why we should know in general. Could learning be painful?

Learning is like feeding. As long as you like the food, you will eat with great pleasure, but if you don't like it, it is hard to chew and swallow.

What makes some food delicious? Is delicious food healthy for us?

Where is a need, there is a will.

One of the most outstanding teachers is Mr. Need. When you are in need and feel the pressure, you will learn how to do it.

If you are hungry and there is none to cook. What will you do? Starve?

The comfort of the space and the fact that food, water, people are easy to find, make us lazy, inactive.

To create the significant change, we should generate a great need?

We will find the resources to solve almost any problem and even make an omelette if we didn't cook one before.

"Need" push us into the experience with existing resources, problem-solving mode, leading to learning.

The skills acquired are through experience (70%), networking (20%) and formal education (10%).

The most challenging one will be through experience as it takes out from the comfort zone.

Mr. Cash 1.

One of the most important documents that the financial department is producing is the cash flow forecast.
Just imagine you go to the perfect dinner with your girlfriend/ boyfriend. You had a fantastic dinner, and the dessert was delicious. It's time to move on, and you are waiting to pay the bill. Impatiently you used the card when the waiter finally arrives. The POS( Point of sale) message is INSUFFICIENT FUNDS. You are blushing and feel occurred as you are trying the second card and Transaction APPROVED.

Amazing how embarrassed we feel when this is happening and how easily it could affect your evening.

Become friends with Mr. Cash. He is the only one that can help you to avoid these situations.

Mr. Cash2.

Everyone loves Mr. Cash. Giving a chance for you not to look like a fool next time when you go shopping. oops

Mainly, he is taking care that the money coming to your pocket (inflow) is greater than the money going out (CASH OUTFLOW). The difference between inflow and outflow will give you the net, the net cash flow. If you want to make Mr cash happier start your day with a considerable amount of money in your pocket/ bank account

The money you have in the pocket is called an open, opening bank balance.

Mr. Cash is taking care of you to end your day with some money in your pocket, which will be called the closing bank balance. Adding up the net cash flow with the opening bank balance will give us the money at the end of the day, which surprise; this is the money you have when you wake up the next day. The closing bank balance for today will become the opening bank balance for tomorrow.

Mr Cash is a fantastic friend as it keeps you afloat. The question is it the most reliable person to evaluate your financial position?

I know he can borrow money short term from the bank, overdraft, to make your life easier. I wonder if this is a good long term plan? Probably not. Have a chat with Mr Equity about that.

Respect Mr Cash for what you are doing for us.

[26.05.2021]

Is digital the new real?.

Are digital products more real than tangible ones?

If we look at the money, they are digital now. We cannot touch most of your money. Software products are intangible and are becoming more valuable than physical goods.

A business that provides software and digital products have the highest increase, leverage. Look at Microsoft, Apple.

Even company like Uber and Airbnb are mainly software-driven. Even banks look at Revolut.

The big question there is a place for NFT, digital products, mainly artist to consumer products.

What is more valuable a painting on a wall that needs to be protected keep safe because it can be stolen or depreciate in due time or a non-fungible token.

If it's digital, it has value as long as you give it weight and others think the same.

Brand identity.

Generic names vs unique names? Brands that start with A, B, C, or you might pick XYZ?

Whom you become when you are using my product or just TOOL that you have in a pocket. Or maybe a challenge that you have to pass.

What is the fundamental objective of business education? Is it similar to what is the aim of money?

Money is a tool to reach our aspirations and goals. But how ethical are our aspirations as manager, owners, employees?

Where do we validate ourselves? For who and why we are doing what we are doing.

You don't need 1mil $ to help someone, and it's not about money; I believe it is more about caring for others.

What it's your mission will define what your identity is.

And what's your mission?

It is more than the environment where you live, behaviour, values and roles.

It's your identity and your business identity.

Fast or slow change.

Companies are faced today by one constant: change : )

Due to business environment changes, cost of raw materials, labour, utilities. An increase in global competition makes companies vulnerable.

Suppose our mission is to serve the customers. We should adjust our strategy according to customer requirements. Please keep a close rapport with them and develop a more extensive customer database.

Running a business is like driving a car. The wheels could be the central departments: Marketing, Finance, Operations, Human resources.

If any of the department has a flow, the car will stop eventually.

Gears could be the stages of development for the vehicles:

1.new establish a business which has survival as primary goal survival,

2. capitalise the business and maximising the profit,

3. expand the business to achieve a higher level

4. provide more service to society

5. returns to shareholders and community

Backwords will be the moment we need to readjust our goals; usually, we reorganise

Looking at financial data only when we make decisions is like deciding about the company's future looking in the mirror.

How fast and how slow it takes the decision depends on traffic your time goal to reach your destination. You might take some risks on the way and push harder the acceleration. [22.05.2021]

Bad customer loyalty.

We want our customers to become loyal. First, we grab the attention. We make them interested, create the desire, and take action. Once they have our product, we want them to be satisfied and follow us. If we are selling water, that will be fine. My customer is drinking the water every time he/ she needs it, and nothing is wrong with having a loyal customer.

However, what if you are selling ice cream?
How often should you have ice cream? Or Cola or alcohol or cigarettes,

What is the responsibility of the company toward its customers?

Yes, we are a successful company. However, how healthy I am making my customers or even the environment when you sell billions of products daily.

I am sure that business education should consider the external costs, obesity, diabetes, and tooth problems created by sugar consumption.

Hmmm.

How do you calculate the cost of obesity when you calculate your next breakeven level of output.?

We became SMARTer in creating and facilitating bad habits for our customer, but they are killing them softly. [21.052021]

Compound mission.

It’s amazing how we grow as individuals and how a project is moving through stages.

A mission a goal that I want, or we want to achieve?

A mission gives directions, hope and team spirit.

If the primary mission of the artists is to show as the light in the mess that we are living in and give hope. A business is something that works towards the light. Business format is essential for the consistency and sustainability of the project.

The project becomes unbalance when we lose our mission in favour of the winning position. I can resist everything but temptation. Just try to stop the rain if you want.

Takka mission is to promote continuous improvement in business education.

I challenge you to improve your skills by 2% every day for 1 year.

We have 365 days in a year, and if we take out 52 days, one day per week to rest, we have 313 days.

If we calculate a compound interest at 2% for this day and we start with 1 dollar, the result is 491,87 USD

100 goes to 49 187 USD

Amazing. [20.05.2021]

What does the government do during cycles? [part 1].

The government is organised in different departments: education, agriculture, defence, energy, health, economy

It's usually elected by the party with the most votes in parliament and has to be approved by most of them.

In our context, the government is interested in achieving: economic's growth, low unemployment, low inflation, and balance between imports and exports.

The government have mainly this tools to achieve their objectives: fiscal policy and monetary policy

The growth of the economy is related to the economic cycles. As we have different moods every day across the week, month, and years, the economy is passing different stages. Growth is related to a period when we are building, constructing, developing business. As we have more resources involved and some are limited, we begin to pay more for them. Higher salaries, higher costs with raw materials leads to a heated economy. It's the boom period. It's a great moment to sell shares, building as you have a high chance to gain more capital.

Companies now start to reduce production as the costs increase, and the customers feel that the prices are too high. As the demand is lowering, companies tend to decline more and more the output and cut some of the cost even with salaries.

When people are made redundant, there will start to spend less on products, lowering the demand for other products. We will have a multiplier effect downward as the available money for the population decreases (disposable income). We are facing a new stage now called recession. The economy is adjusting. A very healthy process for the business environment as we can optimise costs and reconnect with the customer needs and wants.

The most affected products will be common goods, branded products. We should see an increase in the demand for economical products, non branded products and a stable evolution for luxury products.

The demand for products will stabilise at one point according to the needs of the population. This prolonged period when there a no significant changes up or down will be considered the slump period. This will be a considerable period to use your capital to buy shares or different enterprise.

As the population started to buy slightly more products, the demand for products increased, and some of the jobs are recovered, pushing us on the growth period once again.

The main criteria for the Economic cycles are time and real GDP evolution. Real GDP takes into consideration yearly inflation. [19.05.2021]

Mr. Bank.

It's an external stakeholder who wants you to pay your loan with interest. You make him happy if you provide some warranty and collateral before giving you the loan.

They borrow you money short term less than one year, medium-term (1to 3 years) or long (3+ years).

If you borrow 100 000 USD for 1 year and the bank charge 5% interest by the end of the year, you are supposed to pay 105 000 USD plus some administrative costs that could cost you another 1000 USD. You will pay 106 000USD in monthly instalments.

Similarly, you can save some money, provision, for unexpected events like van breaks down. If you keep 100 000 USD with the bank, you will receive after 1st year an interest rate of 2%, 102 000 USD.

The difference, 5% -2% it's usually the value-added of the bank. [18.05.2021]

Anyone in favour of the owners?

We look at owners being the selfish person who is putting money into the business and exploits the resources: people and raw material.

In reality, they are taking the risk together by themself or together with other owners. They are risking their own money and name in the enterprise.

Return to owners will be the dividends taken at the financial year, potentially increasing the value when they are their shares.

What is in the mind of these people when they are putting forward their money and sometimes other people money.

Suppose we define money as a tool to achieve a goal to have more. What on earth do owners want? Fame, power to achieve, they want to prove themselves.

Owners could be directly involved in the business or have a limited rapport with the company. They are looking forward to seeing the financial numbers and be involved in strategic decisions. Respect for all the amazing owners in the world. [17.05.2021]

Manager.

Managers main role is to serve their internal customers, employees. They are aware of and execute the companies objectives. They are planning, organising, commanding and controlling.

For example, if they received a new project to develop a new line of ice cream.

Suppose the company is taking an approach of product market-oriented. The company will make the product and push it into the market.

Stan is the manager in charge of the ice cream. He is working in the company for seven years. Stan was promoted to the position of supervisor 4 years ago and after 2 years; he was in the position of project manager. He is a tall guy, 188 cm, blonde and with a great sense of humour. He loves ice cream and wants to launch one type of ice cream, cinnamon and dark chocolate.

For that, he needs the support of other employees in his team and the heads of other departments. He is keen for the company to expand and have more opportunity to develop to become an operations manager.

He likes to involve in the process and has more of a democratic leadership approach.

He is concerned to have the safety of the job but do want to have the chance to become co owner as the company provide sharing scheme benefits.

Internal Stakeholders

Defined as groups of people that have a direct interest in the business organisation.

We split these groups into two main categories, internal and external.

In order for the entrepreneur to accomplish a win-win relationship with the customer, he/she needs employees. Yes, we can have a company with no employees when we outsource tasks to external companies. I can be based in France and I can hire a company in China to make my products based on a prototype provided. I might hire another company to make me de design and prototype. You might hire a research company to do research and give you the insights for your prototype.
True, you still need to be skillful and be able to provide the specifications for the services requested.

As the business grows we need to hire more employees which they need to be organised in departments. We create different levels of hierarchy as the responsibilities will be split among departments led by managers.

We might consider employees, managers and owners who have an active role inside of the company as internal stakeholders.

Employees role is to support the win-win relationship with customers individually and also as a team with other employees.
They need to be compensated financially with salary/ wage. They need to feel appreciated for the work they are doing, have a feeling that they belong to a group. At the basic level besides financial benefits, they need to have a sense of safety and job security.
Depends on which motivational theorists are you referring to Maslow, Taylor and Herzberg.
[15.05.2021]

Anxiety.

The business starts to grow to shrink and dies. Having a vision helps build the expectations we have for the road ahead. As entrepreneurs, we are sometimes blinded by feelings and avoid doing proper Investigation and planning. The mighty process investigation preparation action reflection action.

[14.05.2021]

Entrepreneur identity.

There are three levels of change, according to James Clear in Atomic changes. Objectives/ goal changes, process changes, and identity changes.

We had many discussions on process vs results. Are results more important than results?

I feel that generating 1mil USD every year is more important than winning 1mil $ at the lottery.

The explosion of programs selling the process behind ideas is amazing; see Russell Brunson, Success Resources, Robert Kiyosaki.

Even though they are providing the process and the support, only a few people manage to succeed.

Why?

Anticipation of success is greater than success itself, it's mesmerize us. It will new entrepreneur vision but will not sticks if you don't get constant results.

We go to this kind of events, and you are already wired to your own habits even though your own habits are not effective.

The big question is how you integrate entrepreneur identity to your already established habits.

[13.05.2021]

What is a business?

An obvious question for students when they are joining or plan to join for a business lesson.

Business it’s an ice cream that you enjoy.

We start our life as consumers and which have different needs and wants. A need is something essential for our living. Something that will no be able to survive. I’m considering water, food, oxygen, shelter. Certainly, my ice cream is not a need, it's something that is not essential for my living. In other words, it's a want.

A business is defined by the relation between an entrepreneur and a customer. The entrepreneur’s our hero. It’s taking the initiative, risking time, money and sometimes his/ her reputation for serving his/ her customers in a win-win proposition.

Could business be defined as the win-win relationship between an entrepreneur and a customer?

[12.05.2021]

Why do students fail to focus when learning online?

There many times when we fail to achieve our goals. There is no excuse as we now work from home.

One of the biggest challenges you face is that you are doing multiple activities from the same place.

What’s wrong with that?

When we develop habits of gaming, they are becoming unconscious. The moment we use the same desk for learning/ school, socialising, eating, and video games. There is no wonder that the unconscious habit of gaming are kicking the moment we are supposed to learn online. They are unconscious and sabotage our current activities.

One good piece of advice that I can give to you is to separate the main activities. Create a profile for school on your PC or other devices, empty the desk for other distraction. You could change the lighting in your room and even clothing. Do small changes, incremental that you could easily accomplish.

You might keep your phone only for your social life, phone WhatsApp, Instagram and keep them there.

Gaming supposed to be fun and without any regrets and thoughts that you have to finalise your homework.

Make a distinction between spaces and activities that you are doing. [11.05.2021]

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