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”
Some businesses, such as education or fitness, can succeed if only the number of aspirants increases steadily. In a business that provides a service that acquires and develops, making new customers continue without giving up determines the business’s success or failure. No matter how hard you promote, if you do not create the persistence of the aspirants, passion, and effort will lead to damage. - Joseph’s “just my thoughts”