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”
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”