Storytelling is the foundation and framework of communication. It’s essential to convey values in an easy, engaging, and emotional way. The world is filled with stories, many of which are reborn with different values depending on how they are processed. Investment, management, and love are all forms of storytelling. This world craves stories. Myths in ancient times, religion in the Middle Ages, and media today all process and share stories. Entrepreneurs are storytellers. However, most people in business tend to overlook telling stories and only focus on presenting products and services. No product or service enters the world without a story. - Joseph’s “just my thoughts”
Victoria’s Secret once created underwear worth 1.9 million USD, adorned with diamonds and jewels. Of course, wearing such underwear in real life is impractical and may not sell, but once Victoria’s Secret produces it, media outlets worldwide will promote this underwear. When considering the promotional impact, 1.9 million USD is not wasted as a publicity expense ; the cash may be gone, but the jewelry-adorned underwear remains an asset, and brand promotion occurs globally, making it a genuinely profitable venture. Moreover, the existence of 1.9 million USD in underwear means that even if Victoria’s Secret products carry a higher price than competing brands , consumers may feel less price resistance . Spending money wisely is just as crucial as earning money. To understand the relationship between costs and assets , one must learn accounting . - Joseph’s “just my thoughts”