Best strategies and worst strategies ?

[bangjoe]

Reading this thread, it seems like the strategies, whether good or bad, still take effort. Whether you do your best or not, there's a factor that plays a role in this; it's luck as well.

Sometimes, everything aligns so you can get a good outcome from good/bad decisions. I think this applies to it as well. There might be compounding effects as well.

I've also read this book even though I didn't finish it, but the main factor is definitely effort, from the stories in the book as a form of learning, luck cannot be separated from great success in this world, such as moment, ownership of money and decisions taken, everything can be interpreted like that.
Regardless of whether Luck will come or not, depending on how much effort we make, of course there is always luck for those who have more effort than not at all, meaning that the chance of getting greater luck is obtained for those who move or do efforts.

[MonitorDear]

On the business side, I’d be interested in what brings customers back after the first purchase. A discount can attract an order, but why would someone return at the normal price? That question seems more useful than looking only at the initial sales numbers.

[Freeveto]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

These questions looks tricky, and all of them have similar answers which can all be related to how you view it and how you approach it, but it is surely related to your understanding and not what people will think about it.

Any investment strategy that worded for you by given you profit of your investment and help you minimize risk and help you avoid losses is a good strategy. But any strategy that doesn’t work for you is not a good strategy for you even if it works for other people.

Getting rich is related to how you succeed in your business; if you are making good profits from your business, and you are able to strategize and make money, you can get rich, and even if you are not completely rich, you will not be poor because you are working towards avoiding poverty.

[Awaisjanizz11]

On the business side, I’d be interested in what brings customers back after the first purchase. A discount can attract an order, but why would someone return at the normal price? That question seems more useful than looking only at the initial sales numbers.

I really your words and I can't just answer without appreciating. As your answer I may tell you short story or you may say a video that I saw on internet some while ago. So basically there was a waiter and was offering a pizza for 4$ and a coke for 1$, then a customer comes and said that why isn't there any offer then the waiter calls the manager and then told the whole scene to the manager, then the manager for quite for a while and responded with an offer the offer was quite impressive 1 Pizza with 1 free coke on 5 $.  
From this short scene I thought that many things seems good from our POV or seems bad from our POV, our POV doesn't matter in bussiness, the main thing that matters is to make our customers happy and brings something new every next time so that the old customer will continue coming straight at you.

[JoyMarsha]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

People will give different answers to the question, since many haven't read about the psychology of money.

1) It depends on the type of investment the person has in mind because there are many investments someone can dive into, the uncertainty of the investment can have them on losses. No investment is a guaranteed one.

2)When it comes to money and business ideas. Not every strategy that is thought of can work for everyone because people have different strategies they learn in doing things in their own way, and it may work for them, but for you, it may not work because you don't have charisma and not give-up spirit

3)DYOR before committing yourself to any business/investment idea, and don't spend recklessly to impress people

[Obim34]

On the business side, I’d be interested in what brings customers back after the first purchase. A discount can attract an order, but why would someone return at the normal price? That question seems more useful than looking only at the initial sales numbers.

Two at the top of my list.

1. Quality of purchase or goods.
2. Customer Service.

I would rather go back home with my money than buy from another seller when it's not urgent. There are qualities a good business should have, I won't keep the patronage if I'm getting inferior service, or I have to deal with a certain cranky and unpleasant attitude.

[Individual-Site]

Your point about customer service makes me think of how a seller handles a faulty item. What would count as good service for you: a quick replacement, a refund, or clear updates while the issue is being resolved? That gives a more concrete example of what could bring a customer back.

[Loyang]

In terms of investment, those strategies are most effective which are designed in coordination with your financial situation. For example, many times it is seen that a person uses all the strategies without depending on his financial situation which will not be effective for him at all. So choose the investment strategy based on your financial situation and continue investing.

Hard work and taking risks are the key to success in business. To grow from small to big, a person has to take risks and not just take risks based on luck but also take risks based on everything like correct information and how much success there is.

[programmer3666]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

In this our own era, we need to understand one key ingredient about getting rich and building wealth, for a person to get rich, you have to learn how to manage your psychology and also that internal greed that comes with every human, it does not necessary has something to do with financial calculations because sometimes maths is the last part of wealth accumulation and the worse strategy a person can take in the process of getting rich is to allow yourself to be swayed by a total stranger showing off his fake lifestyle on social media and you instantly jump to also find any means necessary to get rich overnight, just because of social pressure!! Having that kind of mindset can force you to take unwarranted risks that can eventually lose you a whole lot of your savings. But the best strategy is to note that, in as much as making money requires you to take certain risks, it also requires you to have some patience and at the end of it, even when you make the money, you also need to have very high level of humility to be able to keep the money.

[Makus]

3) How do you get rich? How do you avoid being poor?

I will start out to say that I'm someone that loves reading but I don't read every book, I'm selective about the ones I pick to read because a lot of these authors are just writing these books to make money and nothing they write about is applicable in the real world. I'm curious to know these questions asked were the answers not given in the book? I think if you continue reading you'd get the answers that you seek. I highlighted the third question because I believe that getting rich isn't something that you would have to study in a book, there are principles that would make you rich and they are acquiring a skill, being disciplined financially, make investments you researched on and one thing you can do to avoid being poor is to get started on what you planned on doing without procrastinating.

[Rabata]

1) What investing strategies work? Which ones don't?

In my opinion, those who control risk in investing, make long-term investment plans and are patient until they succeed will be successful in investing. There are some investors who cannot control their emotions, that is, they take excessive risks and make decisions in any market situation when they are too excited. Those investors are more likely to lose.

3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

It is not possible to become rich by following the rules when it comes to becoming rich. However, if someone tries to increase his income regularly and also increases his savings. Then at some point he will be able to make big investments. The possibility of becoming rich will also increase rapidly by the one who has the ability to make big investments. Those who want to become rich must try to invest their saved money properly. And those who have a higher propensity to spend are more likely to be poor.

[ZAINmalik75]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

I don't think these questions can be correctly answered by people who don't have enough experience in all these things. A person would only know which investment strategies work and which ones don't if they have tried multiple strategies and realized which ones worked and which ones didn't for them. The same thing goes for business strategies, and only someone who has started and managed multiple businesses can answer this question since they will have experience of trying multiple strategies.

When it comes to the last question, that can also be answered by someone who was poor at first, managed to make their way through richness, and then managed their wealth and never failed and became poor again, because they will know how one can become rich, what strategies and patterns one can use, and once they have achieved it, how they can protect it and avoid failure. Even though every strategy and pattern might not work for every person, but mostly the patterns can have some similarities.

[Gozie51]

I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

I have not read the book actually but for me, what comes to my mind is how many people got rich reading these books? Like Rich Dad Poor Dad sold about 40 million and it is not verified how many people became rich from it. What I think is that for you to be rich, you must follow principle of savings and diversification. If you save then you reinvest it into profitable business and it grows gradually before you begin to have other networks. Being extravagant kills savings. So you have to be a top notch prudent person that is capable to learn the area of business with acquisition of knowledge and expert skill that will make you very much extraordinary. However, one thing important is that business people are those who are rich not salary owners earners, this is one principle of being rich.

[Zigabel]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

In that book you will definitely find the answers to theses  questions except you want to hear from us our opinions from our personal point of view, and if that be the case, here's my taughts. For investment,  I want to believe it depends on quite a number of factors,  it is not binding that a particular strategy gets to works for everyone. Quite a number of factors does affect your investment decisions, here are a few; your country or residence,  available funds and resources,  opportunities available to you to invest in and others which I may not have mentioned.  All of this when considered will affect which investment strategy you will take that will be considered the best strategy at the time to be taken and on what asset you should make such investment on.

For businesses,  i think similar things applies,  your available capital,  location, choice of business,  customer base,  regional policies,  economic form and security. These are some factors you will consider that gets to influence the strategy you employ to start up a business in a place.  So my point personally is that there's no exact strategy that is binding to succeed in business as different environment does influence your strategy,  so try to understand and know what works best for a particular place and apply it for the best of results.

[SUPERSAIAN]

Every country has a unique culture, history, and approach to trade; people’s mindsets differ vastly from one place to another. Therefore, rather than simply memorizing recommendations from a book, it is better to listen to and discuss the ideas and experiences of others especially here, where people from all over the world share their insights.

Regardless of the specifics, the best approach is to invest a portion of your funds in solid assets like Bitcoin, gold, and silver through regular purchases.

[Oasisman]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

In that book you will definitely find the answers to theses  questions except you want to hear from us our opinions from our personal point of view.

Not really. The book did not have a "definite", one size fits all answer answer. Instead it will give the readers a guiding idea how to apply it to themselves based on their field of expertise, financial behaviour, risk tolerance, etc.
So, our answers and opinion in this matter is more than just our own personal point of view, because what works for you may not work for the others. And again, that is the reason why books like this existed, as a guiding material.

[abaeze]

Due to lack of opportunity and time, I could not read every page of the book, but I know that the book is a very popular and widely read personal finance book and many of the motivational speeches I have heard about investing have recommended this book. So if you could finish the book, then surely the inertia that is working in your mind would have been fixed or you would have got the answer to your question.

However, if you are interested in learning about long-term investment, savings and financial security in Bitcoin, then reading the book can be beneficial for you. Because the book discusses investment, savings, wealth creation and human behavior with money. The book not only focuses on financial calculations, but also on psychological issues such as greed, fear, patience and risk management.

So I think that the book should be read by new investors as well as experienced people to gain knowledge about investing.

[goldkingcoiner]

Today I was reading the of Morgan Housel ' The psychology of Money'. In the page no 28 there are 3 questions asked
1) What investing strategies work? Which ones don't?
2) What business strategies work? Which ones don't?
3) How do you get rich? How do you avoid being poor?
I would love seeing your answers of these questions because nothing comes to my mind whenever I see these questions.

I think it depends on the person. Some strategies that work for one person does not work for another. But what matters more is your expertise in investing/business rather than following some strategy. Everyone begins at the bottom and they make the same mistakes. You have to be willing to put in the effort and the time.

That's it.

Oh and getting rich is more a matter of perspective. How much do you need before you consider all your needs met? For humans, we are unfortunately too greedy and will always want more.