10 unwealthy habits and how you fix them
Just read a fantastic article I have to recommend. It is written by
Thoughts on making money
Recently I’ve been reading a little bit about knowledge intensive work. Mostly because it’s part of my economics education but also because of my own interest. Knowledge intensive work got me thinking a bit on how much easier it has to be making money from technical products instead of consulting services. And how technical products are much more stable to start a business on and harder to fail on, once you have created a good product. There are many reasons for this:
1. You involve the customer in your technical product. When your customer has chosen your product they will educate their staff to handle and use your product. Because of this it would be much harder for the buyer to change product because of the cost it will bring for the company. The more employees the company have involved with the product the harder it would be. In consulting the customer has no binding to you what so ever and can chose to do business with a competitor next time, without the same costs related to the customer.
2. Once you have created the product you “just” have to develop it and update it to different customer needs. You don’t have to prove yourself, from the beginning, all the time as you have to do in a consulting business. In technical products the power is not only in the people, as in consulting, but also in the product you have created.
3. Since you don’t have the whole business in the people, as you have in consulting, you don’t have to worry to much about people leaving your business. You still have the unique product. In consulting, the people you have is the uniqueness. More unstable business if you ask me. The risk of employees starting a competitive business in consulting is much higher.
There are probably more benefits with technical products than the ones mentioned above. If you know, let me know. Negative aspects on developing technical products are welcomed as well.
As I mentioned before I am studying economics. How do you develop a technical product from knowledge in economics when you don’t know programming for example? Seems like computer engineers have a great advantage. I have to meet a computer-engineer/technician to help me put my knowledge in a product. 
Reading books by e-mail
As you probably already know, I believe in reading books for personal development. Today, I discovered Dailylit.com. They give you the opportunity to read entire books thru e-mail and send you small parts of the book, that only takes about 5 minutes to read, each time. You can choose to get e-mails daily, on weekdays or three times a week. Great choice for those who have to check their inbox on a regular basis. The service is pretty new and right now the have 165 books to choose from. I’ve started to read “How to speak and write correctly” by Joseph Devlin.
