Founders often start a business without understanding their profit model. People are more likely to fail because they only think, “I have to work!” and don’t truly grasp how and why they can make money from it. They don’t understand the concept of capital, meaning the basic funds, nor do they understand the founder’s equity. They have heard the terms often but don’t really know their meaning or importance. They don’t recognize it, although they may have heard of it a lot. You start a business and partner with others without knowing whether your return is the reward for taking risks, giving up current interests, or sacrificing competitors. Understanding this is a fundamental part of entrepreneurship. Yet, in reality, they run their business without considering these issues simply because they need to work and can do so at the moment. - Joseph’s “just my thoughts”
The Roman alphabet constructs words in a single direction by using ordered combinations of 26 distinct letters. DNA also reveals life by altering the sequence of the four bases in one direction: A, G, T, and C. The West has developed novel concepts by combining basic units, while the East has refined them based on relative relationships. For instance, in Asian scripts, Chinese characters can convey different meanings by altering the length or position of a single stroke within a character. These two approaches account for most methods of creating something new. - Joseph’s “just my thoughts”