What if you could fulfill your transaction benefits (considerations) in various ways, including fiat money? Have you ever wondered what the consequences for your business would be if you could fulfill your benefits in ways other than cash? For instance, let’s say you are a shoe manufacturer. To make shoes, you must purchase raw materials like leather and process them into finished products known as shoes. At this time, if you can pay for raw materials with the finished shoes you made instead of fiat currency, you wouldn’t need to take out a loan with interest from the bank. However, the world’s economic system has limited the standard of value exchange to ‘cash,’ commonly referred to as fiat money. We need to understand precisely why banking is so important to entrepreneurs. This is one of the reasons the industry does not surpass finance. After all, money is among the goods whose value is determined by supply and demand. - Joseph’s “just my thoughts”
Even if you gamble, you can’t do it alone. A partner must exist to exchange well-produced products and services, as added value is created only through such exchanges. Without a connection, realizing added value becomes difficult. Wealth is generated solely through transactions, which must precede consolidation. Networking has always been and remains crucial for creating wealth. Metcalfe’s Law states that when connected to a network, the effect is proportional to the square of the number of connections. This results in an exponential effect rather than an arithmetic series . While the number of connections is significant, the level of trust built, even with a few personal connections, is even more critical. To effectively utilize social media, strive to connect with as many networks as possible and build trust in those relationships once connected. Only then can you experience the exponential effect. - Joseph’s “just my thoughts”