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”
Recording and storing purposes include reloading, confirming, and recalling memories and data when needed later. There is nothing more foolish than when recording and storage become ends in themselves. The same applies to money. When frugality and saving become ends in themselves, the function of generating profit through investing money and creating surplus by spending turns into foolish storage that fails to achieve a positive function. Such a person will engage in activities that neither they nor others can benefit from. We should always examine whether the ends and means have been interchanged. - Joseph’s “just my thoughts”