by Nicolette Mashile
Join Nicolette Mashile aka The Financial Bunny talk all things money management.
Language
🇺🇲
Publishing Since
1/19/2023
Email Addresses
1 available
Phone Numbers
0 available
January 22, 2024
<p>in this episode I respond to a question around saving in or using your home loan </p>
December 24, 2023
September 6, 2023
<p>This weeks book is the Personal MBA by Josh Kaufman<br/><br/>I really enjoy this book and only read 10 pages at a time. <br/><br/>Here below is a useful summary I found on: https://readingraphics.com/book-summary-the-personal-mba/#:~:text=Kaufman%20explains%20several%20key%20financial,time%20value%20of%20money%20etc.<br/><br/><b><br/>Value Creation<br/></b><br/></p><p>This is about assessing the <em>attractiveness of markets </em>(e.g. using the 10 Market Evaluation Questions), understanding <em>what people want</em> and how they evaluate value (e.g. knowing the 4 core human drives, and 12 forms of economic value), how to translate an idea into a <em>viable offer</em> (e.g. testing critical assumptions, creating prototypes and a minimum viable offer, and improving using “iteration cycles”).</p><p><b><br/>Marketing<br/></b><br/></p><p>To get your prospects’ limited attention, you need to present your offer in a way that connects it with an <em>existing desire.</em> This aspect of business is about <em>framing your offer</em>, triggering prospects’ <em>interest</em> (e.g. through visuals, hooks, free gifts) and sustaining it, and <em>focusing</em> your limited resources in the right areas (e.g. the most-profitable customers).</p><p><b><br/>Sales<br/></b><br/></p><p>A transaction is essentially an exchange of value. This part of business involves knowing how to build <em>mutual trust</em> and <em>common ground</em>, setting the right <em>prices</em>, structuring the right <em>proposals</em> and fallback options, and addressing <em>barriers to purchase</em>.</p><p><b><br/>Value Delivery<br/></b><br/></p><p>Happy customers are more likely to buy again and refer you to others. This aspect of business is about increasing <em>satisfaction</em>, and mapping out your <em>value-stream</em> so you can identify ways to improve your throughput, duplicate and multiply your value delivery.</p><p><b><br/>Finance<br/></b><br/></p><p>Finance is about knowing how the money flows in and out of a business, so you can decide how to <em>allocate</em> it, and assess if it’s producing the desired results. Kaufman explains several key financial concepts, including what it means to achieve <em>sufficiency</em>, how to increase profits, how to look at Customer Lifetime Value (CLV), ways to finance your business, understanding opportunity costs/ sunk costs/ time value of money etc.</p>
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