Tag: Finance

The best advice that you’ve probably never taken is to hire people to do the work for you. I’m guilty of it too, for two reasons.

One, having people work in your business is like hiring a nanny to raise your kid. It’s hard to find people you can trust to do a good job. Two, employees are way more expensive than you think.

To figure out the real cost of an employee, I took a look at 20 of the world’s largest companies to see how much they’re spending per employee.

[click to continue…]

7 comments

Young entrepreneurs don’t charge enough for their time. And clients are shocked when they hear anything over $30 an hour.

I bid out freelance jobs at $80 per hour. That seems like a lot, but it’s really half as much as I should be charging. My friend’s dad told me that big companies contract out to developers and designers for $165-$245 per hour.

When we take a closer look at where that $80 per hour goes, you’ll realize it’s nowhere near how much you should be charging.

[click to continue…]

23 comments

So far this week I’ve worn 19 of the 23 hats and it’s only Wednesday.

When you’re starting out, you have to do everything for your business. You have to wear many hats. Each of these 23 hats is a job or an entire department in a typical corporation.

I want to list all the hats that entrepreneurs juggle, or should be juggling, so you can get a better idea for what it’s like to be an entrepreneur.

[click to continue…]

10 comments

Last summer, I was watching Dragon Ball Z with a high school dropout who had made millions by 21 when he asked, “What do they teach in business school?”

Here’s a 22-year-old kid who has made more money than most people will ever make, yet he asked as though he missed out on something. I graduated from a top 100 business school but I didn’t really know how to answer his question. So I made this list.

After scrounging through my $40,000 college education, I managed to come up with 101 things I learned in business school.

[click to continue…]

3 comments