Connection Trap: Derivation differs from the original. Let’s say you’ve uncovered the secrets to investing in stocks and made a fortune. The secret you hold is valuable, but if you publish a book about those secrets and spend time giving lectures and counseling to teach others, it becomes difficult to concentrate on your main job—investing in stocks. Investments, publications, lectures, and consultations all revolve around the theme of “stocks” and are linked by a single story; however, each has its own distinct features. Expanding your work isn’t easy. Adding another item to a restaurant menu creates additional problems. We think that time is limited, but often we fail to use it wisely. It’s a miracle we don’t fail while spending time as if consuming water. - Joseph’s “just my thoughts”
Numbers and Management: Without numbers, a business can’t grow beyond a certain point. Here’s a simple example: imagine you go to the bank to get a loan because you don’t have enough cash for your operations. To qualify for a business loan , you need financial statements like balance sheets . Banks don’t lend based on looks or abilities but decide if your current financial situation is promising for the future. It’s hard to get a loan if you don’t tell a story with numbers. If you rely solely on bank deposits , you’ll spend what you have or borrow if you run out. That keeps your business running as it is, but without verifying your creditworthiness with numbers, don’t even consider borrowing from the bank. Good debt can create leverage, but bad debt can wipe out even your past gains. - Joseph’s “just my thoughts”