Founders often start a business without understanding their profit model. People are more likely to fail because they only think, “I have to work!” and don’t truly grasp how and why they can make money from it. They don’t understand the concept of capital, meaning the basic funds, nor do they understand the founder’s equity. They have heard the terms often but don’t really know their meaning or importance. They don’t recognize it, although they may have heard of it a lot. You start a business and partner with others without knowing whether your return is the reward for taking risks, giving up current interests, or sacrificing competitors. Understanding this is a fundamental part of entrepreneurship. Yet, in reality, they run their business without considering these issues simply because they need to work and can do so at the moment. - Joseph’s “just my thoughts”
Remembering something is not the same as knowing it. Just because you remember a lot doesn’t mean you know a lot. To ‘know’ means to grasp things and phenomena in relation to one another by separating and removing unnecessary or unimportant details, which allows the essence and core to be easily discerned. Furthermore, by embodying that knowledge and information through experience, the essence and core can be freely applied in any situation, providing a perspective that can be easily explained to others. Knowing in relationships and situations is called ‘ understanding ,’ while realizing the essence and core of yourself is referred to as ‘ awakening .’ - Joseph’s “just my thoughts”