What if you could fulfill your transaction benefits (considerations) in various ways, including fiat money? Have you ever wondered what the consequences for your business would be if you could fulfill your benefits in ways other than cash? For instance, let’s say you are a shoe manufacturer. To make shoes, you must purchase raw materials like leather and process them into finished products known as shoes. At this time, if you can pay for raw materials with the finished shoes you made instead of fiat currency, you wouldn’t need to take out a loan with interest from the bank. However, the world’s economic system has limited the standard of value exchange to ‘cash,’ commonly referred to as fiat money. We need to understand precisely why banking is so important to entrepreneurs. This is one of the reasons the industry does not surpass finance. After all, money is among the goods whose value is determined by supply and demand. - Joseph’s “just my thoughts”
The value of one piece of bread is greater when you have only two pieces than when you have ten. The same principle applies to how we use our time. Age serves as a significant measure of how we perceive the quality of time. As people approach death, they tend to place a higher value on time. In other words, the quality of time spent varies with age. While mistakes made in your twenties can be overlooked, tolerating the same mistakes in your fifties or sixties indicates a different quality, despite the same amount of time passing. Growing older means gaining a deeper understanding of responsibility and acceptance. - Joseph’s “just my thoughts”