The relativity of values causes us to use money irrationally. I go to the supermarket to buy a $15 pen, and the clerk smiles and says, “You can buy this pen for $7 if you walk 5 minutes from here.” Then, most people walk five minutes and buy a $15 pen for $7. But if you want to buy a $1,000 jacket and the clerk smiles and says, “You can get a $992 jacket in five minutes from here,” most people simply buy the $1,000 jacket. Reasonably, walking for 5 minutes equals the effort, and the profit of $8 is the same. However, people might go to a store that sells pens cheaper, but not for the jacket, because the discount rate is too low. In other words, the relativity of comparing values makes us act irrationally. The pen’s discount rate is 55%, and the jacket’s is only 0.8%. Yet, the total amount is the same for all $8, and the effort to gain that profit is identical. Attitudes and misconceptions about consumption influence how we build wealth. - Joseph’s “just my thoughts”
Online marketing and social media involve more than just showcasing personal content or creating a distinct identity; it’s about attracting online visitors to my side. To establish this identity, it’s crucial to clearly define who you are. Without gaining others’ understanding of your actions, beliefs, and preferences, you cannot create a meaningful personal brand. Once you express your identity and interests, the next step is to communicate effectively. Communication is vital for earning the trust and support of others. Through communication, you reveal your personality and character, which can either foster closeness or create distance. This highlights why personality and character play a crucial role in my business; they are essential for forming meaningful connections online. - Joseph’s “just my thoughts”