Unless you are self-sufficient, you must trade your products for those of others to survive. An exchange economy was established for the efficient survival of humanity. Economic activity leads to wealth accumulation, so for wealth to exist, there must be a counterparty. This means you cannot thrive on your own. However, having many counterparties also means that some of them could compete with your business. Exchange becomes straightforward only through the establishment of a price, which acts as an indicator of competition. Trading at a high price could generate significant wealth, but competition can hinder success. In other words, I survive because of others, while my survival is also threatened by them. Business inherently involves competition. This is why any business plan must include a strategy that considers competition. - Joseph’s “just my thoughts”
Knowing and doing are two very different things. Zhuge Liang, an incomparable genius who was a Chinese prime minister of the Three Kingdoms, knew the deep secret of nature. However, he suffered a great defeat in the most important battle because he wrongly appointed Ma Su as his subordinate general, even though he knew him well and had received a warning about his appointment from the late king. Personnel management is the most difficult thing in the world, and to manage it well is the key to success. - Joseph's "just my thoughts"