Does Reading Equate to Profit?
Does Reading Equate to Profit?
In honor of national reading month, let’s talk about an exercise that we often take advantage of, undervalue, and rush through when we do participate, reading. We’ll also break down two different types we identified, offensive and defensive reading.
Ponder on this statistic, “54% of adults have a literacy below a sixth grade level while 20% are below 5th. 21% of adults in the US are illiterate” (National Literacy Institute, 2024).
In a world where we reward laziness and get mad at coworkers when they hold us accountable for not doing our job, it can be tempting to slack off in areas to grow ourselves as well. We’re here to give you a wakeup call and say, don’t! The statistic above shares that just about a third of Americans can’t read well. How much do you want to bet that the 26% that can, have a direct correlation to their healthy income, informed decision making, and successful businesses?
Read from the Offense
When you have free time, even if it's just ten to fifteen minutes, what are you doing with it? As a solopreneur or business owner, it is even more important to be intentional. Your knowledge and capacity to absorb more is relative to a bullet in a pistol as it relates to business. It can be the defining difference between you gaining a new customer and/or not getting sued. Say you need a new tool because you are in the trades industry or you need a new chair because you are a barber or the owner of the shop. We think reading from the offense looks like comparing different brands, reading reviews, reading about the savage good and/or depreciation value, and the like. As you equip yourself with knowledge, you gain power and will make a more informed and educated decision. Offensive reading helps you make money and maximize your dollars.
Read from the Defense
Have you ever needed to sign a bunch of paperwork at the doctor’s office and then when you actually needed the service, it wasn’t covered or it cost more than you initially thought? What happened? You skimmed through the paperwork, didn’t you? They knew the odds weren’t in your favor and that they could more than likely make a profit off of you. Read the fine print. This is where defensive reading comes in, to not just educate yet to protect yourself too. Thoroughly reading warranties, insurance policies, and terms and conditions may be a bit time consuming yet worth it for you and your business decisions! Defensive reading is crucial because it can save you and give you back money that you have already spent.
We want you to succeed and be intentional in everything you do so if you’ve made it this far, you just invested in yourself a little more. Hopefully you remember this blog post when you are tempted to scroll mindlessly or take a salesperson’s opinion at their word without confirming the facts. If there is something you are reading relating to business, entrepreneurship, or finances, and you need help understanding it, reach out to us and we’ll be sure to guide you to the best of our ability!