Undoubtedly, one cannot but agree with the opinion of Rockefeller. Indeed, the risk and money invested in a certain business are aimed at a systematic profit, the value of which depends on the invested forces and materials. Invest more - get even more.
The investment of capital in order to make a profit, as everyone knows, is called an investment. A successful investment leads to great profits, so it is worth taking risks for the sake of your business. In the case of small investments, the profit will be just as small and will not cause either material or moral satisfaction. If the demand for a company's product or service decreases, together with small investments, this will lead to a crisis and bankruptcy.
You can also cite the Pontiac car, the car of American youth, as an example. After reducing the cost of manufacturing a car, the company went bankrupt.
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Thus, we can conclude that John Davison Rockefeller was absolutely right. Indeed, costs are an indispensable factor in any entrepreneurial activity and the future of the whole company depends on it
In this statement, the author raises a problem related to entrepreneurial activity. J. Rockefeller also argues that large expenses should not cause concern, but only small incomes should be feared - it is because of them that the entrepreneur loses profits.
As you know, entrepreneurial activity is one of the factors of production, and the factors of production are the resources that people use to produce economic goods. Income is the sum of cash and in-kind resources certain period time. If an entrepreneur has small incomes, as John Rockefeller says, then the entrepreneur will “burn out”, because he will not be able to recoup his products. The goal of any entrepreneur is profit - the positive difference between the entrepreneur's income and expenses.
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Cost-size of resources Money used over a certain period of time. Rockefeller's words that one should not be afraid of large expenses can be translated as follows: the more resources you spend on the production of your own products, the more products you will produce, therefore, the more profit you will receive.
The received incomes are divided into two parts - real and nominal. Real income is the amount of goods and services that can be purchased with earned income. Nominal income is the amount of money a person receives in a given period of time. Expenses, in turn, are divided into fixed and variable. There are also ways to calculate the profitability of an enterprise headed by an entrepreneur. If the income of the enterprise exceeds the expenses, then the enterprise is profitable, if vice versa, it is not. The case when incomes are equal to expenses also does not suit the entrepreneur, because in this case he turns out to be without profit.
Thus, the sole motive of the entrepreneur is to make a profit, and the more income, the better for him.
Let's take an example from the literature. In Margaret Mitchell's novel Gone with the Wind, the main character, Scarlett, vowed to herself that she would never go hungry. Scarlett bought the sawmills, and began to make money as an entrepreneur - she traveled to clients herself, plotted intrigues against competitors. Scarlett understood well the meaning of the words "beware of small incomes." She sold her forest at any cost, if only the demand of buyers
passed to her, and she was able to earn a fixed profit. Thus, in most cases, entrepreneurs will stop at nothing to make their profit.
Let's take an example from cinema. In David Fincher's film Social network” tells how an ordinary teenager Mark Zuckerberg managed to found the most famous network in the world, which brings him billions of dollars in annual income. Mark skillfully used his entrepreneurial abilities in order to receive the maximum income. Thus, entrepreneurial activity is risky, as it can be associated with either a successful investment of funds or complete burnout.
Updated: 2018-03-06
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The author of this statement argues that one should not be afraid of large investments, one should be afraid of small profits. J. Rockefeller, the famous banker and entrepreneur, raises an important problem - the development of entrepreneurship and the rational distribution of costs and income in this field of activity. This problem is relevant both for our country and for all modern world. I agree with the author's statement.
As you know, entrepreneurial activity is an activity aimed at making a profit from the production and sale of goods, the provision of services. Moreover, profit is the positive difference between expenses and income. Of course, investing large amounts of money in your business is a huge risk, the entrepreneur must “work them out” as best as possible so that there is no negative profit. It is the low income from the enterprise that can become an indicator of unprofitability and lead to its bankruptcy.
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There are many examples in history when large expenses led to the prosperity of the entrepreneur, and subsequently to the prosperity of the country as a whole. In the 17th century, the famous Russian businessman A. Demidov lived in Russia, who was not afraid to invest huge funds in the development mining industry in the Urals. The correct distribution of finances allowed him to raise the mining industry in Russia to a new level.
In conditions modern economy Russia also finds confirmation of the words of J. Rockefeller. According to media reports, in the 1990s, the number of bankrupt enterprises in Russia increased sharply. One of the reasons for this process was a catastrophic reduction in the cost of modernization and development of enterprises, which led to a decrease in profits.
Summing up, I would like to note that the famous banker and billionaire J. Rockefeller is right.
Updated: 2018-02-20
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Motivating quotes from John D. Rockefeller - the first billionaire in history "> Motivating quotes from John D. Rockefeller - the first billionaire in history" alt=" Don't be afraid of big expenses, you should be afraid of small incomes. Motivational quotes by John D. Rockefeller - the first billionaire in history!}">
On September 29, 1916, John Rockefeller, founder of the Standard Oil Company, was named the world's first dollar billionaire. An entrepreneur whose name is strongly associated with wealth and success is still considered richest man who ever lived on earth, because in terms of today's exchange rate, his fortune exceeds 300 billion dollars. Today Babr shares with his readers some rules and life principles that allowed Rockefeller to achieve such results. These quotes are very motivating, especially if you are reading this post on a Monday.
I have always tried to turn any disaster into new opportunity.
Do not be afraid of big expenses, you should be afraid of small incomes.
Whoever works all day has no time to earn money.
Your well-being depends on your own decisions.
My duty is to earn a lot of money, and even more money, in order to use the money I have earned for the benefit of my compatriots according to the dictates of my conscience.
If your only goal is to become rich, you will never achieve it.
I don't know anything more despicable and pathetic than a man who devotes all his time to making money for the sake of money itself.
Friendship based on business is better than business based on friendship.
Do you know what gives me the greatest pleasure? See how dividends come from my efforts.
It's not enough to just do the right thing, the most important thing is to let people know that you're doing the right thing.
I'd rather hire someone with enthusiasm than someone who knows everything.
Good management is about showing ordinary people how to do the work of excellent people.
The ability to deal with people is a commodity that can be bought in the same way that we buy sugar or coffee. And I'll pay more for that skill than anything else in the world.
I don't think there is another quality that is so necessary for success of any kind as perseverance. Perseverance can overcome everything, even the laws of nature.
Through perseverance, anything, whether right or wrong, good or bad, will be achieved.
I never guessed who I would be in this life, but I always knew that I was born for something more.
Oil tycoon John Rockefeller shared the secrets of success
The name of the American entrepreneur, philanthropist, the first dollar billionaire in the history of mankind and oil tycoon John Rockefeller is known to everyone and is still considered a symbol of wealth.
See also: NBU amends accounting rules for income and expenses of Ukrainian banks
KYIV. November 30th. UNN. The National Bank of Ukraine adopted Resolution No. 827 dated November 26, 2015, according to which the procedure for reflecting information on income and expenses of banks in accounting is changed in accordance with the requirements international standards financial reporting, reports UNN with reference to the press service of the NBU. Regulation No. 827 allows banks to independently determine the procedure for adjusting the accounting value of financial instruments.
John earned his billions himself, starting from scratch, and achieved unprecedented success.
Today.ua has collected 20 rules that John Rockefeller followed to achieve such results.
1. Always try to turn any disaster into an opportunity.
2. Your well-being depends on your own decisions.
3. Don't be afraid of big expenses, be afraid of small incomes.
4. Whoever works all day has no time to earn money.
5. Do you know what gives you the greatest pleasure? See how dividends come from the invested efforts.
6. Don't be afraid to give up the good for the great.
7. Good management is about showing ordinary people how to do the work of excellent people.
8. The ability to deal with people is a commodity that can be bought in the same way that we buy sugar or coffee. And they will pay for this skill more than for anything else in the world.
9. If your only goal is to become rich, you will never achieve it.
10. There is no other quality so necessary for success of any kind as perseverance. Perseverance can overcome everything, even the laws of nature.
11. Through perseverance, anything - whether right or wrong, good or bad - will be achieved.
12. Friendship based on business is better than business based on friendship.
13. They would rather hire a person with enthusiasm than someone who knows everything.
14. Build a reputation and it will work for you.
15. It's not enough to just do the right thing, the main thing is to let people know that you are doing the right thing.
Photo: instagram/john.d.rockefeller
17. No one ever guesses who they will be in this life, but you should always know that you were born for something more.
18. I would rather earn income from 1% of the efforts of a hundred people than from 100% of my own efforts.
19. The first and foremost prerequisite for success in business is patience.
20. I have always tried to turn every failure into an opportunity.
Meanwhile, Mother Teresa believes that people lack love much more than bread. TOP 15 quotes of a great woman.
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The NBU amended the rules for accounting for income and expenses of Ukrainian banks
KYIV. November 30th. UNN. The National Bank of Ukraine adopted Decree No. 827 dated November 26, 2015, according to which the procedure for reflecting information on income and expenses of banks in accounting is changed in accordance with the requirements of international financial reporting standards. Regulation No. 827 allows banks to independently determine the procedure for adjusting the accounting value of financial instruments.
Mexico loses almost 40% of oil revenues due to low prices
In January-October 2015, Mexico's oil revenues fell by 38% compared to the same period last year, the Latin American country's Ministry of Finance said in a statement. According to the agency, 654 billion pesos (about $39.4 billion) of oil and gas revenues were received during this period.
BPP issued an ultimatum on the budget for 2016
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Where does the money go: Ukrainians spend more than half of their income on food
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In Russia, the son of a billionaire arrested on suspicion of murdering his mother
19-year-old Yegor Sosin, son of well-known Russian billionaire, businessman Igor Sosin, was detained in Kazan on suspicion of killing his own mother Today, the son of billionaire Igor Sosin was arrested in Russian Kazan on suspicion of murdering his mother. Yegor, 19, was taken into custody until February 10, 2016, according to the Russian TASS news agency. "19-year-old Yegor Sosin was taken into custody by the Vakhitovsky court of Kazan for a period of 2 months until February 10, 2016 on suspicion of murder," the spokeswoman said Supreme Court Tatarstan.
Saakashvili accused Avakov of financing illegal armed formations
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