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Poor Performance Financial Penalties
Between 16:07:13 and 17:36:13 AEST our internet link was down. The cause is currently unknown and reflects the reality that ADSL is still not production-ready in Australia. If I were running a business that absolutely demanded internet access or 99.999% uptime for email and web, I’d be looking at ISDN or Telstra’s business-ready solutions. ADSL…
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On Partnerships
Generally people who have had business partners don’t recommend them. You can never both be exactly 100% committed and do exactly 50% of the work. Like a marriage, they only work if there is tremendous flexibility on both sides. But when is the best time to learn to work with partners? Entrepreneurs with skills to…
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Survival of the Smartest?
I’ve posted before that being smart is not always a good thing. I believe an enthusiastic bias-to-action coupled with sensible risk taking will outperform a risk-averse solution under most measures. I’m talking about business and investment here not space exploration or surgery. Ben Hyde at Ascription is an anathema to any enthusiasm pointed out this…
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Picking great advisors
I got this question from an unknown reader: how much is a high net worth individual? I remember Paul when you said that part of the reason that you went bust during the last property boom was that you should of upgraded your advisors. When should one go to a guy like Batten or his…
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Character and Principles
I don’t think think anybody is interesting until they’ve had the shit kicked out of them — Jim Carey This quote has been bouncing around my head for a month since I heard it on a doco about Jim Carey. It says something about a persons character. Can I go through nasty times and retain…
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Guru critique
Tony Robbins and Unleash the Power Within is upon Sydney. There is a huge amount of search engine traffic through WealthEsteem.org looking for comment and critique. NigelW, another very smart person I know, made this comment on Personal Development Industry guru’s. I’m becoming more and more convinced that the whole “personal development” industry is just…
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Go into business
I read this post over at the Somersoft Property Investors Forum. I found it very hard when I realised I was working hard to build someone else’s dream. Starting or buying a business often appeals as a perfect solution. But getting into business may not be the best approach. We’ve all had friends unhappy in…
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Structured Giving
In a recent post at Michael Simmons – Young Entrepreneur Journey: To Give or Not to Give wrote: Living in the big city, I’m asked for money about 10 times a day. I probably give money about 2 out of the 10 times depending on how much money I have, how bad I feel, and…
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Laughter
I subscribe to the Bothwell Group Management Thought of the Week e-mail. I can’t find last week’s thought on their website or I’d post a link. So here it is in full… My grandfather always said that if I laughed before I cried and sang before I spoke I was a happy guy. Laughter was…
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Free Favours
On occassion I’ve bought lunch for an entrepreneur or investor for in return for the opportunity to pick their brain. It is a fascinating and rewarding passtime. So when I read Philis Rockower’s latest Real Estate Investors Club of Los Angeles newsletter, I got a short sharp shock. Many newbies always expect they can take…