“Life itches you but teaches you”
Thinking like Costing..
1. Relevant Costing:
If I was not here I was better somewhere else.
(Opportunity cost is the key- It does the work of profit and loss.)
2. Marginal Costing:
Trying to be like others is useless unless you shape yourself according to circumstances.
(Absorption method is useless when you understand concepts of Marginal)
3. Budgetory Control:
Always compare yourself with opponents through ‘their’ skills and ‘your’ weaknesses.
(Make estimates based on others costs and your profits.)
4. ABC Costing:
There are always people around who will prove to be a catalyst for your worth.
(Based on the cost drivers)
5. Pareto Analysis:
Analyze the worth of the work to be done before starting it.
6. Learning Curve:
Consistency favours a graph to hedge your life portfolio.
(Learning with Time)
7. Business Ethics:
A great man without ethics is worth a cup without a saucer.
(No Ethics= No Business)
Implementing through Strategic Management
If you comprehend the statistics surrounding you, be ready to turn Yens into Dollars.
(Invest in futures if you get the hang of it, it is more promising than Equity)
Games without risk makes no sense of winning
(Options market is an opportunity to multiply your credit ratings.)
10. Zero Coupon Bonds:
To be secured in life follow those who promise more by risking less.
The greatest profits in life are made by exchanging words be it strong or weak.
(Although a strong or a weak currency it requires to be exchanged.)
12. Risk Management:
Destiny is a hurdle. Its upto you how big a jump you want to take.
(Greater the risk more the profits.)