Opportunity Cost: Making a choice means sacrificing something else at the same time because we can’t have everything. If the value of what is given up is significant, then the choice incurs a relative loss, and it is up to the CEO to recognize this as a cost. In reality, whether I am aware of the opportunity cost or not, it still impacts my current financial situation. However, to calculate profit or loss as an opportunity cost, there must be a future opportunity to forgo the current choice and select an alternative. No one should keep repeating the cycle of giving up and choosing without knowing whether the next decision will be beneficial or not. Giving up is worthwhile only when the next option is good. - Joseph’s “just my thoughts”
I often say that the small things you consistently practice each day will change your life. People may think it is difficult to do so. However, this doesn’t mean that the practice itself is easy or hard; rather, it’s challenging to prioritize that little task every day. Why? Small things happen daily, and results take time to manifest, while small changes don’t significantly influence our profits. However, if these practices are regular and steady, it presents a different story. - Joseph’s “just my thoughts”