Now You Know!

Hello friends, so where to start from 😅. Every new day we came across some people who says that there is financial problem in our home or there is no money with me or something like that. (Actually i was also like that). Okay, so the real problem is not that we havent got plenty of money, the problem is how we utilise that money ,the money which we got! The problem is that people got much money but when it comes to utilise it, they dont bother how to use it and they fails to make much from that money. Firstly they want to get such things that are very costly ,which makes them look like they are rich. Like they want to buy branded clothes, they want to buy luxurious cars,bikes etc. These all things are liabilties which suck most of your money and in the end all you got is regret. For example, if you buy a luxurious car (from your regular income source), that car first of all will be costlier than the normal car than its maintenance cost is also more than the normal car and if by bad lu...

So, I was just going through this book called "The Lean Startup" by "Eric Ries" where I came across this term. Also, this term was mentioned before in my platform business class. I was eager to know more about this term.  Basically, this term means that if there are a lot of people in your business and they like your product, they will ultimately ask their friends and colleague to use that product. We can take the example of social media. As you know, way back "Orkut" was very famous. And most of the crowd was like, hey! do you have an Orkut account?  After that, there came the era of "Facebook", starting from the college people, everyone came on this platform. Till now, many people are still using Facebook due to its network effect.  Do you know what? Most of the platforms work on the concept of the network effect.  Share your thoughts✌