Profits and Rewards: While profit and reward may seem similar at first glance, they are distinct concepts. Profit is more practical than reward and has a genetic basis. Reward, in contrast, offers comprehensive benefits and is aligned with life. For example, if a company promises to give stock options to its employees, that is a reward; however, if the stock option is officially recorded by a resolution of the shareholders’ general meeting, that is a profit. Profit reflects the realization of rewards. Our genes seek profit more than rewards. Nevertheless, rewards also help sustain life. An example illustrating the difference between profit and reward is seen in loss. Gambling and drugs may offer us emotional rewards, but they also show how we can experience diminishing returns by wasting our resources. Profits and rewards are clearly different. Many people confuse the two, which can harm relationships. - Joseph’s “just my thoughts”
We all know that seeing your business through the eyes of your customers increases your chances of success. But most of us mistakenly think we're seeing it from the customer's perspective while we see it as a supplier rather than a customer. Uber and Airbnb executives regularly use their services as customers. Try getting your family to buy your product or service. The more non-face-to-face the transaction, the more detailed the information the customers have about the sellers. If not about the product information, at least about the purchasing information. It doesn't matter how good your product is if they don't buy it, that's it! - Joseph’s "just my thoughts"