Return On Investment (ROI)
One of the most important practices in business is to gauge the efficiency of investments. The ROI calculation allows management to measure this performance. The formula is easy to remember:
ROI=(Gains of Investment-Cost of Investment)/Cost of Investment
If that wasn't basic enough, then there are also ROI best practices to follow for almost all types of investments. When considering new mergers or acquisitions, management will typically pay three to five times earnings. In an ideal scenario the rate of return would be approximately 35% per year.
As young business professionals and CEO's of your own careers, managing the ROI on your personal spend is equally as important. This exercise should have already been performed when comparing the costs of your undergraduate degree against your estimated future earnings (despite the fact that only 27% of graduates work in the field of their major). For a little more on the basic concept of ROI, check out this embedded YouTube video.
When writing Welcome to the Big Leagues, I thought of the books costs to the consumer and compared it to the value that it will bring to your career and life. In short the costs were negligible and the wisdom gained, priceless. 🙂
In its rawest form, I designed the blueprint of Welcome to the Big Leagues to consist of 9 innings. Where each would contain five key tips to help new entrants of the business world follow a path of sustained success. The original intent was to have a grand total of 45 key business tips; which would essentially cap the cost of each to roughly 50 cents. Similar to the price of one of those stale, brightly colored and hard as a rock gumballs you find in vending machines at shopping malls.
Welcome to the Big Leagues transformed into something greater than what I had initially intended. Yes, it is still packed with essential tips. The Top 25 Corporate Dos and Don'ts take this intent one step further, but the heightened value comes from the stories. The subject matter is addressed in a way that is digestible to everyone. Real world examples and life experiences make the material very easy and enjoyable to read. Chapter 7: The Stretch, focuses on wellbeing where limiting these tips to only new entrants of the corporate world is truly a disservice. That's fine, as you are the ones putting your best foot forward each day to make a difference. You deserve the insight and awareness on how to proactively avoid the obstacles and pitfalls of the journey ahead.
After reading Welcome to the Big Leagues, I encourage you to utilize this site's Forum to share your story and/or to post questions. Also, know that I view your feedback as a gift and ask that you provide yours on the Contacts Page. Encouraging testimony may be posted for all to see.
Welcome to the Big Leagues releases on 4/12/14. Be sure to support the launch and capitalize on the value of your personal copy.
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