Lesson - 1 Your business is a monster, consuming your cash “Most people start a business with grand dreams of becoming millionaires and a desire to be their own boss, and not answer to anyone else. They want to grow that business over a relatively short amount of time. That’s the dream, but the reality is often far different. Most entrepreneurs put growth before profits; this means they’re constantly chasing their tails, becoming stressed, and never really seeing any gain. We believe that if we work a little harder, we’ll achieve more growth, more money, but it never works that way. Half of all businesses fall into failure within the first five years of being established — that’s a considerable amount, enough to put you off starting your own business! The businesses that do survive are often struggling to stay afloat, fighting debt constantly. If this is your business, it has turned into a monster; it is eating your cash, causing you to become stressed, sucking the life right out of yo...

Oakland Athletics was willing to let go of the traditional method and look for better ways to win games Michael Lewis was fascinated by how some players and executives undervalued by big leagues became one of the most successful individuals in Major League Baseball. He also pondered on how the Oakland Athletics (Oakland A’s), who were not financially buoyant, kept winning games. For example, during the 2002 season New York Yankees had a payroll of $126 million while the Oakland A’s had apayroll of about $40 million, but Oakland A won. It was also assumed that only the wealthiest teams could get the best players, so there is a tendency that they will always win. However, on a closer look, rich teams like the Rangers, the Orioles, the Dodgers, and the Met were failing. On the other end was the Oakland A’s, who had one of the lowest payrolls in the game but had won more regular–season games than any other team — except the Atlanta Braves. For instance, in 2000, Oakland A’s spent $26 milli...