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Fancy business terms that'll help you spend money consciously: 1. Return on ROI: will I use this enough to get my money back 2. BATNA: is there something I ca
by jfzoid 5y ago
Fancy business terms that'll help you spend money consciously:
1. Return on ROI: will I use this enough to get my money back
2. BATNA: is there something I can use that is an alternative (yes, I know not exact definition)
3. Opportunity Cost: what else can I buy with this. As I am writing this comment I am thinking to myself "a croissant and latte every morning, or sushi once a week"
4. Time value of money: is this saving me enough time to be worth it
- LudwigNagasena 5y agoThe opportunity cost is something that should be taught to all people, it is a powerful concept that can help people think straight. Everything else in your list is actually just a particular application of it.
- pjmorris 5y ago"Best alternative to a negotiated agreement" (BATNA) is from 'Getting to Yes: Negotiating Agreement Without Giving In', Fisher, et al. The idea is that you want to be aware of what your options before entering a negotiation.