Israeli Kindergarten. Dual-income couples often arrived late to pick up their children. As a result, the kindergarten implemented a rule that parents would face a fine if they were late; however, even though this introduced a penalty system, it also led to more delays in pickup times. By replacing feelings of guilt with money, paying a fee for being late became the new norm. After recognizing the mistake and removing the fine system, what happened? More parents started arriving late. When money becomes involved, the exchange of value fundamentally changes the nature of the relationship. And once that change occurs, it doesn’t revert. - Joseph’s “just my thoughts”
Only a few founders genuinely grasp the essence of their businesses from the start. After launching, they often start to grasp the core of their ventures as their customer bases expand. If startups had a clearer insight into their businesses from the outset, they could significantly lower their chances of failure. The sooner you identify your business’s essence, the greater your chances for success will be. Furthermore, if you can quickly pivot your business direction—even if you realize it later—the likelihood of failure diminishes. - Joseph’s “just my thoughts”