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#746 - Morgan Housel - 12 Unexpected Laws Of Human Psychology
Modern Wisdom
Balance Boldness with Prudence for Success
Successful individuals and businesses thrive by balancing optimism with a grounded approach. This duality allows entrepreneurs to formulate bold visions while simultaneously employing conservative management practices. Having a clear vision, like the ambition of placing a computer on every desk worldwide, is essential, but so is maintaining financial stability and preparedness. Strategic financial planning includes having ample cash reserves and minimizing debt, which can safeguard a business against unforeseen challenges. This equilibrium between audacious goals and pragmatic operations is crucial for long-term success.
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