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”
A truly great leader does not believe he is perfect, nor does he need to be. In fact, recognizing his imperfections allows him to connect with others and fosters humility, which helps him collaborate effectively with colleagues. Rather than achieving remarkable successes alone within the organization, a leader who strives to thrive alongside his team— even if progress is slower— cultivates a more cohesive organization. Ultimately, this approach strengthens the organizational culture, empowering it to withstand crises. People cannot excel at everything, nor do they need to. Recognizing this reality is a key aspect of effective leadership. - Joseph’s “just my thoughts”