Partnership: We can’t operate alone. Transactions involve counterparties. Ultimately, business is about establishing and managing relationships with others. Without mutual benefit, trade falters and conducting business becomes difficult. When starting a business, keep a partnership in mind. The key to a partnership is “how to share,” not “how much to earn.” If the distribution isn’t rational, distortions will occur within the organization, which can harm the bottom line. Failing to distribute fairly or according to the situation increases the risk of business failure. Breaking up with a partner might seem better sometimes, but the core conflict remains; only it shifts from internal to external. To succeed in business, focus on distributing profits effectively rather than solely increasing them. Learning to distribute well is essential. - Joseph’s “just my thoughts”
It also means that if I have been fortunate in the way I have lived up to now, misfortune may come one day. Management involves looking at both sides of this coin. When business conditions are good, we need to prepare for tough times , and when business conditions are bad, we need to prepare for better times. If you have experienced misfortunes so far, you should hope that the opposite can also occur. Nothing lasts forever. The universe also changes from time to time, and we must abandon the notion that the society we live in will remain the same. Management is the act of converting uncertainty into certainty. - Joseph’s “just my thoughts”