A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”
Steve Jobs envisioned integrating a computer chip into existing wireless phones. He seldom pursued new technology development; rather, he aimed to combine existing technologies to achieve his goals. Innovation means creating significant change through the right blend of what already exists. Often, even one’s own business or profession remains underappreciated. If you grasp that well, your chances of business failure will significantly decrease. Unfortunately, this is often not the case in reality. Focus on the essence. - Joseph’s “just my thoughts”