What if you could fulfill your transaction benefits (considerations) in various ways, including fiat money? Have you ever wondered what the consequences for your business would be if you could fulfill your benefits in ways other than cash? For instance, let’s say you are a shoe manufacturer. To make shoes, you must purchase raw materials like leather and process them into finished products known as shoes. At this time, if you can pay for raw materials with the finished shoes you made instead of fiat currency, you wouldn’t need to take out a loan with interest from the bank. However, the world’s economic system has limited the standard of value exchange to ‘cash,’ commonly referred to as fiat money. We need to understand precisely why banking is so important to entrepreneurs. This is one of the reasons the industry does not surpass finance. After all, money is among the goods whose value is determined by supply and demand. - Joseph’s “just my thoughts”
One of the most important essentials of business is cognitive dissonance resolution. When researching who watches the Ford Motor Company commercials the most, the results are not potential customers but purchased customers. They want to confirm that their decisions were right or to receive continuous support after their purchases. Because we can never go back to the past, getting confirmation and support from someone makes us easy and comfortable beyond our regrets. So the company's strategy should focus on repurchasing the existing customers, not the new ones. In many business cases, businessmen should avoid assumptions or predictions. We shouldn't run a business depending on our thoughts only. - Joseph's "just my thoughts