Being wealthy means your assets grow larger, and their value increases too. The purpose of all economic activity is to secure assets. The more assets you have, the more opportunities you create. Assets represent the total of what one owns and borrows from others. In other words, it is the complete amount of resources available for earning time. Resources serve as the foundation for acquiring additional resources. It’s like using small earthworms as bait to catch fish. Thus, it is said that money makes money. This is referred to as financial income. Income is primarily categorized into earned income and financial income. If you have a substantial earned income but lack financial income, you are more likely to face poverty in the future. - Joseph’s “just my thoughts”
A venture company president established an environment that encouraged open dialogue to foster an honest organizational culture, yet soon after, the company’s structure fell apart. Honesty can often be painful. To minimize the hurt caused by honesty, it is crucial to consider who delivers the message. In other words, if a respected individual speaks candidly, people are likely to feel less discomfort. Organizations can falter if honesty is prioritized over a culture of respect. - Joseph’s “just my thoughts”