One of the key principles of money is ‘opportunity cost.’ It means that when I buy something, I have to give up something else in return. We think we buy because we need something, but we often forget that we could buy something else instead. We rarely consider ‘opportunity cost’ when making a purchase. We do not compare other values against our needs. Buying something means giving up something else, but we often don’t realize it. When we spend money, we should also consider the ‘opportunity cost’; yet, in reality, we aren’t trained to do so. By making a purchase, we bypass the value comparison that may not offer any additional benefits. Maybe it’s because we lack knowledge, or perhaps the idea isn’t appealing. - Joseph’s “just my thoughts”
Video creators often face bankruptcy due to “editing.” Profit is essential for revenue generation; profit is realized only when revenue surpasses costs. “Editing” constitutes a significant “cost” to boost sales. There’s a belief that quality editing enhances the likelihood of sales. While this is somewhat true, survival until a sales surge depends primarily on minimizing costs (editing). It’s not filming, but “editing” that often leads video productions to financial failure. Nonetheless, many production companies fail to adequately factor in editing costs into their overall production expenses. The reality is that a substantial amount of money is tied up in “editing.” - Joseph’s “just my thoughts”