Rejection Cost. From the perspective that my profit is someone else’s loss, and someone else’s profit is my loss, the fact that I have to reject an opportunity to make money for my circumstances is a loss for me and an act of giving someone else a profit. In other words, my added value is not determined solely by productivity but also by the marginal utility generated by the law of supply and demand. Therefore, my labor price should reflect the value that I have given up—the profit I could have gained. If the rejection cost is not included in my profit, I will be at a loss to that extent. Failing to account for rejection costs in production expenses is not wise, but foolish, because it risks my survival. There is no absolute value in this world. All economic values are relative. - Joseph’s “just my thoughts”
If our daily diligence is repeated and accumulated, there is a huge difference between doing and not doing. If 0.99% of my effort and 0.01% of luck, achievement by the effort will be prominent, but also we cannot ignore the result with the achievement taken from luck. There are so many reasons that we must be modest after achieving our goals. Even so small and trivial, continuously repeating our diligence day by day, our lives should be changed. - Joseph’s “just my thoughts”