One of the key principles of money is ‘opportunity cost.’ It means that when I buy something, I have to give up something else in return. We think we buy because we need something, but we often forget that we could buy something else instead. We rarely consider ‘opportunity cost’ when making a purchase. We do not compare other values against our needs. Buying something means giving up something else, but we often don’t realize it. When we spend money, we should also consider the ‘opportunity cost’; yet, in reality, we aren’t trained to do so. By making a purchase, we bypass the value comparison that may not offer any additional benefits. Maybe it’s because we lack knowledge, or perhaps the idea isn’t appealing. - Joseph’s “just my thoughts”
The representatives do not produce the results; instead, they establish the system that generates those results. Failing to grasp this distinction can lead to significant consequences. The system defines a goal, organizes a structure that aligns with that goal, designates a person responsible for each point of connection within the structure, assigns appropriate roles, and delegates authority and responsibility. Ultimately, the representatives are responsible for the system. - Joseph’s “just my thoughts”