At the beginning of this week we learned an skill I thought was interesting. How to quantitatively compare. One sets up an excel spreadsheet to compare two options. First you set up your parameters. What are the factors affecting your decision? You list them, probably 3-5 factors. Then you assign each of them a weight. Say the first factor is the most important factor, so you give it 45% of the weight in your decision. Then you rate each options on a scale of 1-10, 10 being the easiest or most desirable. You can then quantify your options, helping to identify which option best fits your criteria. I think it can be a useful tool when making many types of decisions.
I've also enjoyed learning about drop shipping and affiliate marketing. The two do have similarities, but some important differences as well. Neither have a very high barrier to entry, which in my mind likely makes it more competitive. Almost anybody can do it, which means there's probably lots of people trying. Neither have to deal with inventory, and both require little more than a website to get started.
All in all I've learned some very interesting things about both of these business models.
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