Pay Less, Reduce Expenses – Get Deals
Want to build more wealth than others? The fastest way to do this is by spending less on the same things. Ironically, this will make it easier to sell too, which is essential to making money.
At the foundation of all wealth building is getting exceptional value for your money. If all things are equal and you get better value for your dollar than someone else you’ll end up further ahead. This is the #1 secret of the typical millionaire next door.
THE TOTAL COST MATRIX
Getting great deals is all about getting more out compared to what you put in. Unfortunately, the nature of financial accounting and how people tend to view money as well as bad habits mean they generally have an incomplete picture of their real long term financial health. Here we explore how to truly understand your real and complete inputs and outputs in order to maximize them. These are concepts we build on for all the other areas of building wealth and becoming rich.
3 DIMENSIONS OF VALUE
A lot of people when pursuing great deals fixate on price and price is certainly one component we can adjust to increase the value for our money but it turns out there are 3 universal dimensions to all value and by knowing them you can have many more tools available to maximize the dollar for your money and get ahead.
The Cost Halo
In order to increase value on an ever growing basis you need to look beyond your direct expenses and understand the cost halo. Not only does this give you a whole new set of tools for evaluating value and improving the value for your dollar it also facilitates entering new businesses, creating joint ventures and win wins.
THE 5 ways to get great deals
The concepts expressed in the 3 dimensions of value as well as the cost halo come together in the 5 ways to get great deals starting with competitive advantages for small investors and businesses and evolving to strategies for companies and investors as they grow ever larger.
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