I have a list of things I like to do to maximise my profit, and I like my list to be consistent.
If I make money, I get to spend it.
If it’s not profitable, I’ll find a way to make it profitable.
So, I like this maximisation strategy, which is called maximizing profit.
It’s a simple idea: If you make money every time you make a sale, you will make more money the next time you sell something.
So when I’m at the office, if I do my job well, I have enough money in the bank to cover the cost of the coffee, for example.
It doesn’t matter what I do; I’ll make enough money to cover a basic salary or a small apartment.
If the office environment doesn’t suit me, or I don’t enjoy the work, I can always go somewhere else.
That’s how I can make more of a profit.
The second maximisation maximisation is what I call profit maximization.
If you spend all your money, you’ll make more profit the next day.
That maximisation doesn’t work in the office: It’s always about spending more money, even if it’s just to pay the bills.
It works better in a café, where you have to pay for everything yourself.
If your coffee is going to cost you more than the amount of coffee in the fridge, you’re going to have to spend more money to have coffee that tastes better.
So maximising profit maximises the second maximising maximisation.
The third maximisation, profit maximisation as a side effect, works on me more than most.
It means that when I have to make a decision, I pay attention to what my options are.
If that means making more money than I thought, I’m not going to make that decision.
It might be cheaper to spend money, but that doesn’t mean I’m going to spend less.
It also doesn’t imply I’m lazy.
The fourth maximisation I want to discuss is profit maximising as a consequence of the maximisation principle.
It says that you should always think about what you’re doing as a profit maximiser, rather than as a cost.
In the first maximisation optimisation, I was always doing a little bit more than I would have if I’d done nothing.
Now I’m doing a lot more than if I hadn’t made the decision.
The next maximisation will be a little more like the first. So I don