A Quote by Sergio Ermotti
Wealth management businesses are capital light businesses.
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CEOs are also chief capital allocators. This is a point Warren Buffett has repeatedly made: that the role management plays in allocating capital across businesses and boosting returns on that capital is a critical yet poorly recognized one.
Because I work with entrepreneurs who own businesses, I have found Doug Tatum's No Man's Land to be a really helpful body of working knowledge. It's very applicable to most businesses that have the usual problems of growing businesses - managing people, capital, markets, etc.
I spend most of my career as a management consultant, a businessman working with family-owned small and medium-sized businesses. The businesses that make up the core of our economy.
Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
There are only two kinds of businesses in this world: Businesses in crazy competition, and businesses that are one of a kind.
If you look at America, one of the great strengths of America is its university towns and the way a lot of their businesses and a lot of their innovation and enormous economic growth have come from reducing that gap, getting those universities directly involved in start-up businesses, green field businesses, new development businesses.
Many small businesses rely on small financial institutions, like credit unions and community banks, to meet their capital requirements. Without them, these small businesses would have to close their doors.
Our established businesses of hydrocarbons, energy, and petrochemicals pretty much run on their own, with their own proven leaders. This has helped me focus almost exclusively on two things: Firstly, new businesses. And secondly, institutionalising what I call the Reliance Management System.
Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.
We have talented people, great businesses, and an unparalleled entrepreneurial spirit in Montana. By raising capital, Montanans can leverage those assets to start new businesses, expand existing ones, and create more good-paying jobs in Missoula and every other community under the Big Sky.
I think if you look at the commonalities between eBay, PayPal and OpenTable, all three are businesses that built a network in a vertical. Network effect businesses are very attractive businesses.
All businesses require capital, management and labor, and business executives, wanting to grow and maintain profitable enterprises, have a strong incentive to keep costs, including labor, as low as possible.
I have a wealth of experience, not only as a senior executive in different departments in the city, but I've also, in my private practice life, helped small businesses, middle-market businesses really try to navigate the sometimes difficult world of city government.
Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
At the end of the day local authorities are responsible for economic growth in their area. They don't buy and sell businesses, they don't build businesses, what they do is work to attract businesses their area, through a combination of things.
I don't have a lot of time for managing [my businesses], so I put a lot of trust in people I hire to manage my businesses. I can't necessarily attend to [the businesses] while I'm in season. We swap ideas on how we can improve and deliver a better product.
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