Joseph's "Just My Thoughts"

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”

When I take out a loan from the bank, the bank lends me money, and when I repay the loan, I owe that money back to the bank, plus interest, on the repayment date. However, when I sell my used car, a debt arises in which the buyer must pay me cash equivalent to the price of the used car, and I incur a performance debt in which I have to hand over the used car to the buyer. When these two different debts are exchanged, a transaction is completed. The goal of business is to make debt well and pay it back well over and over again. A transaction must create debt without exception, but a transaction that generates debt on only one side is an absolutely unfavorable contract for someone. That’s the essence of a loan agreement. There are good debts and bad debts depending on the type of debt I have to pay (or fulfill). If you do not make this distinction clearly, you are more likely to fall behind in the social system. - Joseph’s “just my thoughts”

The identity of the messenger is more important than the message itself. In other words, it’s crucial to consider whether the messenger’s identity is reliable. It matters more to others that they know who I am and recognize me than how well I have built relationships and interacted with them. Identity begins with my proclamation, and credibility only emerges when others acknowledge that proclamation. If there is a significant gap between my declaration and how others perceive me, I will need to invest considerable time and money to bridge that gap. Similarly, if there is a significant discrepancy between the message I intend to convey and my declared identity, it also requires a substantial amount of time and money. Consumers are acutely aware of these differences, yet they often remain silent about them. Asking others to share their inner self-assessment is as burdensome as expecting them to reveal their true selves. - Joseph’s “just my thoughts”

The case of solving complex problems with surprising ideas and new perspectives is exemplified by Alexander the Great’s ‘Gordian Knot’ or the ‘Egg of Columbus.’ If you have tried using the same perspective and approach but have not achieved your goal, you must tackle it from a completely different perspective and method. Nevertheless, the reason we continue to cling to our previous perspective and direction is that we focus too much on the method. If you get caught up in the method, you lose sight of your purpose. If you lose your purpose, you may end up trying the same method again. If the will is strong and misguided, it is possible to repeat this. - Joseph’s “just my thoughts”

Most people study in school, yet the education system does not provide financial education. Even though it doesn’t take long for us to realize that finance is an essential element of survival, isn’t it strange that schools don’t offer financial education? Economic activity is a power game where someone wins and someone loses. One person’s loss is another’s gain, and my sacrifice is someone else’s fortune. In other words, economic activity embodies the harsh reality of deciding between discomfort and the uncertain odds of a game that determines who occupies a position, even though that position has already been predetermined. This issue is further exacerbated by the fact that people have different productive capacities and society mandates that the means of value exchange is cash (fiat currency). To survive, you must first understand how social systems function. - Joseph’s “just my thoughts”

A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”

“I can live well alone!” is not correct. If I live alone, I can survive to some extent, but ultimately, it is hard to survive, and “living well” is even more challenging. This is because the economic principle is established not by ‘alone’ but by ‘many people.’ If I live well, it means that someone has become poor because of me or is living well with me. The fact that through value exchange, or transaction, we can meet each other’s needs and store the surplus from that production is both true and real. Trading is not done in isolation. - Joseph’s “just my thoughts”

The key to writing well is to write frequently and revise consistently. No matter how complex an idea is, even a very short sentence often reflects our thoughts in a strangely organized manner. A good article is not defined by being well-written, but by undergoing extensive edits. Great passages are not simply written because they contain exceptional ideas; rather, they are often rewritten and crafted. Even the best ideas require multiple revisions and refinements in order to effectively share and influence others. Great ideas and quality writing are created, not bestowed. The ripple effect of well-constructed sentences on the world is beyond our imagination. - Joseph’s “just my thoughts”

Other people’s brains exist within our own. The ability to replicate others’ brains is one of the most crucial functions of our brains. We copy other people’s brains into our own to better understand them. In fact, our brains operate through this mechanism. The more diverse people’s brains we replicate, the less we suffer from communication issues. Our brains act like mirrors, reflecting others. When another person’s brain is mirrored in mine, it triggers empathy, and when that stimulus produces a hormone, our bodies respond accordingly. Since this response is communicated back to the brain, we mistakenly believe we are experiencing emotions in our bodies. What you represent in my brain is the emotion. - Joseph’s “just my thoughts”

I don’t write because I know something. The more I write, the more I discover. Our brain’s thinking circuits and our writing circuits operate differently, and when we write, our various perspectives start to process things we previously only thought about. When we write, the action that remains as a graphic and continues to stimulate our eyes also influences our thinking. Training to think and understand a concept requires using several thought tools. Write every day without exception. It’s perfectly fine if you don’t do it stylishly, and it’s okay if you don’t write a lot. Write because the act of writing itself provides a fresh perspective on your thoughts. - Joseph’s “just my thoughts”

Remembering something is not the same as knowing it. Just because you remember a lot doesn’t mean you know a lot. To ‘know’ means to grasp things and phenomena in relation to one another by separating and removing unnecessary or unimportant details, which allows the essence and core to be easily discerned. Furthermore, by embodying that knowledge and information through experience, the essence and core can be freely applied in any situation, providing a perspective that can be easily explained to others. Knowing in relationships and situations is called ‘understanding,’ while realizing the essence and core of yourself is referred to as ‘awakening.’ - Joseph’s “just my thoughts”

If you don’t know your identity, you also don’t recognize the power given to you, nor do you know when to use it. It is only because of who I am that I understand where I stand and what power I possess. Identity determines what I should do. If you don’t understand what to do, you don’t know when and what power to apply. Identity is not fixed; it develops or evolves according to circumstances and times. Therefore, identity is an attribute that one should constantly examine. - Joseph’s “just my thoughts”

A willingness to work less and play more is often reviled more than an attitude of passion and hard work. Implicitly, the stereotypes that “live passionately is cool” and “you must succeed as much as you try” are ingrained in our consciousness. However, this perspective overlooks another significant, less visible aspect: efficiency. The issue lies not in laziness but in settling for reality; instead, we should focus on making life more efficient to uncover the benefits of laziness, which has indeed changed the world in revolutionary ways. I am very interested in laziness. Revolutionary opportunities often lurk among lazy people. Nonetheless, that doesn’t mean I dislike hardworking individuals. - Joseph’s “just my thoughts”

People understand that a brand is established when it is named. However, a brand requires a named entity, and that entity must be cherished by consumers. This means there must be prior production, followed by a name. The essence of branding lies in manufacturing. Capital is necessary to produce goods that meet consumer needs. Individuals can create a brand simply by distributing products made by others, but they will eventually face limitations. Manufacturing capacity is crucial to branding, and most of the world’s renowned brands emerge from this productivity. Don’t confuse this with branding by merely assigning a name. They will soon find themselves in trouble if they mistakenly think they are branding without securing manufacturing capacity. Even if you don’t own a manufacturing facility, branding becomes simpler if you establish the ability and framework to control those facilities and raw materials. - Joseph’s “just my thoughts”

‘Capital’ means ‘Principal.’ What does ‘Principal’ mean in business? The ultimate goal of any business is to create wealth. Wealth serves as the foundation for creating value, and that value must be generated solely through production. To produce, the cost must be invested first; the source of that cost is referred to as ‘Principal.’ In other words, the result of a transaction through trading is ‘revenues,’ and if costs and expenses are subtracted from sales, what remains is ‘profit.’ If costs and expenses exceed revenues, it results in a losing trade; if they are lower, it results in a profitable trade. Therefore, principal serves as the benchmark for profitability; in other words, it is referred to as capital. Whether a business is good or bad is determined by its profitability. If the principal is insufficient, borrowing capital becomes necessary, which is termed “debt.” Just as the number of principals capable of producing tankers differs from those that can create bicycles, the si...

Most successful wealthy people consistently say that “wealth comes from the mind.” In a way, this notion seems like a luxury that only accomplished individuals can afford. However, it is true. The essence of money is merely a representation of the idea of credit. In other words, money is philosophical, and wealth is nothing more than the application of ideas. Wealth originates in the mind because it results from engaging with philosophies and ideas. Therefore, to achieve wealth, you must first learn to control your mind. Developing money-making skills follows next. - Joseph’s “just my thoughts”

Recording and storing purposes include reloading, confirming, and recalling memories and data when needed later. There is nothing more foolish than when recording and storage become ends in themselves. The same applies to money. When frugality and saving become ends in themselves, the function of generating profit through investing money and creating surplus by spending turns into foolish storage that fails to achieve a positive function. Such a person will engage in activities that neither they nor others can benefit from. We should always examine whether the ends and means have been interchanged. - Joseph’s “just my thoughts”

Power is often granted rather than generated. In other words, it derives from the consensual approval of others. The dilemma lies in whether to use the power conferred to the organization. If power is not utilized when it should be, it leads to neglect and a breach of trust. Conversely, if it is used when it should not be, it constitutes interference and violence. So, how do we distinguish between these situations? It should be exercised decisively when disagreements need resolution, when injustice or crime is anticipated or has occurred, or when harm is expected to be, or has been, inflicted on someone. In these instances, the use of power must be accompanied by accountability. Power should be deployed only if no one else is accountable for the choices and decisions made. Otherwise, it is better left to the organization’s discretion. Consequently, power, leadership, and benefits are healthy only when proportional to the level of responsibility. - Joseph’s “just my thoughts”

One of the misconceptions people have is that they believe they ‘buy (get)’ things with money. However, in reality, it is an exchange of money for goods. You might question whether these two concepts are similar, but there is a significant difference between them. In other words, it leads people to forget that money is also a ‘good’ whose value fluctuates based on the amount available in the market. This creates an overconfidence in money. In terms of value, money is only as valuable as its role and mission in exchange. If the role of food is to ‘eat,’ then the role and mission of money is that it is endowed with ‘the power to exchange anything.’ If money can’t be exchanged for food, can you eat money instead of food? The standard that allows goods to exchange roles and missions with each other is called ‘price.’ - Joseph’s “just my thoughts”

If you don’t examine your mind occasionally, you may find yourself dominated by it. The issue is that our minds are far from perfect. The mind is not directed or influenced by your life; rather, it feels satisfied when it achieves a sense of balance. However, achieving balance doesn’t always equate to perfection. - Joseph’s “just my thoughts”