If you’re running multiple businesses within a single business entity or a business that generates sales by connecting with different businesses, I recommend managing the accounting for each separately. For example, if a car rental company also engages in car leasing, try to maintain distinct accounts for the rental and leasing sectors. This approach increases the chances of uncovering hidden costs or mistakes in resource allocation. In business, specific attributes necessitate this separation, leading to independent costs and improved profit structures. Neglecting this reality can result in bankruptcy without fully understanding the reasons behind it. The foundation of success is to avoid failure. - Joseph’s “just my thoughts”
Famous for his book "The Gun, the Germs and Steel," the great scholar "Jared Diamond" speaks 13 foreign languages. Once he made the wrong decision to change his job. He wanted to leave the field of science behind and become a "simultaneous interpreter." In the United States, however, speaking 13 languages seemed competitive, but being able to speak many languages in other parts of the world could not be competitive. Before doing a preferred occupation or doing something better than others, you should calmly be able to figure out your field of action first. - Joseph’s "just my thoughts"