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Why Should You Save Money For The Future? - Small Business And Startup Strategy Saturday Video

I discuss why it’s important to save money for the future. It seems counterintuitive because you’re robbing the present to provide for the future. Most people very much view saving money in this way. Why is it important to save money for the future? From a business perspective, this is about having retained earnings. It seems strange because your profits will be taxed every year.

There are 3 major reasons:

1. To take advantage of opportunities. Many opportunities pass over us because we are cash strapped. Many opportunities require a significant investment, however they pay off substantially in the long run.

2. To have flexibility and smooth cashflow. Many times throughout business operations, or within your personal life, you will experience natural downturns. You should save money to smooth out these natural downturns and cyclical trends.

3. To be generous. There are often moments where you want to be very generous, but you can’t because you have very little money to fall back on to. Saving money and accumulating wealth allows you to be generous in moments where it makes sense.

Check out:

How To Gain Views On YouTube: An Polya Urn Explanation - Small Business & Startup Strategy Saturday
https://youtu.be/fvW055KsjUY

Understanding Your Stakeholder Relationships - Startup and Small Business Strategy Saturdays
https://youtu.be/xP5R_VSe_RA

How Peer Feedback Helped Me Improve My Writing & Why I Am Building a Sharing Economy Editing App
https://youtu.be/AHRKjojTJCc

How To Figure Out Your Company Culture? Focus On Identity - Small Business And Startup Saturdays
https://youtu.be/D08dVpWRkX8


What You Can Learn From Jimmy Buffett’s Career - Startup & Small Business Strategy
https://youtu.be/3aYsJ5lZqLs

How To Get Discounted Luxury Disney Vacations And More: The Power Of “Meh” And Dave Ramsey
https://youtu.be/bRmcoZD2m8s


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David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.

r3ciprocity.com: Peer proofreading and editing platform

A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.

The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.

Check out https://www.r3ciprocity.com

Please subscribe to the Youtube channel:
https://www.youtube.com/channel/UC5spxk7bNDMGPSHjW_8ndZA

About the Site 🌐

This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥

Origins of the Idea 🌱

The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠

Challenges Faced 🤔

Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.

Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍

Creating Truly Random Links 🛠️

The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.

About YouTube 📺

YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟

Content and Users 🎵

Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.

While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.

Monetization and Impact 🤑

YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.

As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈

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