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”
There are many reasons why a business is challenging. Still, the most general and essential mistake is the inability to distinguish between “good and bad revenues” and “good and bad debts.” Competitors take away good revenues if you are not competitive, and relatively inadequate revenues are selected. If the financial situation is terrible, choosing a lousy debt rather than a good one will be possible. Sometimes, your situation makes a bad choice, but somebody stands up to the problem and endures a chance. In other words, emotion and patience are more important than the situation. - Joseph’s “just my thoughts”