Business Idea Center

Business ConceptsThe book is divided into two parts—text and cases—to provide professors with maximum flexibility in organizing their courses. If you like this article, then you might be tempted to share it on one of the many social networking websites that you use, and that shows the sort of power social media holds in the age of electronic communication. It is an industry that is valued at hundreds of billions of dollars since it is the primary platform for content sharing, marketing, communication, and entertainment for billions of people all over the world. Facebook, Twitter, and LinkedIn might be the biggest social media networks as of 2015, but the idea of a social network first came into existence in 1997 when was established by Andrew Weinreich. The website might not exist today but it was the website that set in motion the creation of perhaps one of the biggest online industries ever created.

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Perhaps the most important characteristic of success for a young person is the ability to wait for gratification – to save money and plan ahead in order to control future time. Aside from goal setting, this can be taught best by a standard wholesale-to-retail lesson. Before you go to the wholesaler, draw a chart and think about how this event will take place. Much of success in life is thinking about what to do now to make your goals come true in the future. Entrepreneurship, and all of business, is about investing ideas, money, and time in the present to get benefits in the future. I would argue that working on lengthening time preference is one of the most important skills you could develop.